Well, I guess stupid hasn’t left the room yet. One would have thought after the devastating wipeout of 2022, humans would come to their senses, but nope. They all still want free, easy, instant profit. They’re just wired that way.
Take Dogecoin (please!) We all remember back in May 2021 how Elon Musk was scheduled to host Saturday Night Live (which at one point was actually a really funny show). The volume of Dogecoin, and the price, absolutely went crazy in anticipation of his appearance, and the tippity-top of the $DOGE price, about 75 cents, was reached literally when he was onstage. It subsequently fell about 93%.
Did a 93% wipeout cure people? Not a chance. Because today, as you may have heard, the same Elon (who now owns Twitter, which has fallen over 50% in value from the price he paid) decided to change the familiar bluebird logo for the company to a dog. The Dogecoin dog.
As a frequent Twitter user, I can tell you that the logo on the Twitter site is so tiny as to be almost immaterial, but this one event caused $DOGE to explode in value, along with the trading volume. And I’m not even touching on the fact that………..it’s a LOGO………of a COMPANY……….that has NOTHING to do with goddamned Dogecoin! At all!
Want to know when the bear market is truly over? Simple.
You’ll know when a completely stupid event like this happens (like changing a logo) and not a single person on the planet gives a crap. That, my friends, will be the bottom of all asset prices.
