/biz/ - Business & Finance

[Anonymous No.7326658]

Crypto is 100% pure greater fool investing.

The problem with greater fool investing is that it depends on constant hype about past price growth. Once you have a 60% downward drop, that hype is gone and the losses accumulate rapidly.

Except for the few early adopters driven by political ideology, nobody who bought into actually cares about anything excepting getting back MORE REAL MONEY when they sell it to a greater fool.

Just a month ago nobody cared about what utility any of this shit has, or why anybody would ever want to use crypto over all the other transactional methods that have been around and worked forever.

People will dump hard and move onto the next greater fool hypetrain.

In the next few months we have promises of increased regulations and tether collapse to look forward to. Don't delude yourself with the notion that you're gonna hold and it will eventually go back up. There is no reason for it to go back up, as the underlying asset has no actual real life use.

Get out now if you're still over your initial investment. All the smart money left in January already, don't be left holding someone else's bags.