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I get what you are saying. The endless printing of money isn’t going to end well. I have not owned a stock that went 50x in a few years If I owned a stock that did move 50x, I suspect it was based on a booming business or a fantastic real asset. 50 baggers happened all over the place in the dot com boom and that was crazy. I think bitcoin has been phenomenal if you got in early. I would be taking profits even as it kept climbing these days. I think if you are long something this hot you tend to think it has no end. It’s like all raging bull market stocks. It’s intoxicating stuff.
For bitcoin to double now, it needs to reach $120,000. The maths gets harder. If we punt a 1c stock, it only needs to reach 2c for the same return. The leverage is coming right out of bitcoin and that is a problem for the longs. If the volume dries up, she will be interesting. Markets don’t just keep rising like this. I’m not negative on bitcoin, just questioning the moves.
Musk has hurled rocket fuel all over the price now as more of his followers turn up. He has been an easy trade to follow so far. I am not sure bitcoin will ever settle down. It’s not the nature of the beast. Great for traders and early punters. This is something else to watch. I have a free ticket on the ride.
