There are going to be a lot of stories about “crypto millionaires” in the next few months. Normally, I would think this would indicate a local top. But this time “seems” different. And yes, I am old enough and been through enough to know it’s almost never different.
I guess these millenials and Gen Z kids are finally going to get enough money to buy a house. ha Ha.
Gold was also up crazy money today.
This does not bode well for the future.
I don’t think this time is different but do think that we are nowhere near bubble stage.
IMO It needs everyone and their grandmother involved and we need to see outrageous predictions for the future to reach bubble stage.
My current grasp at trying to figure where we are is that this sort of thing is just incidental to the big push in Bitcoin — by “big push” I mean the “mainstreaming” of it by Blackrock and earlier by CME. They are creating a market, because that is what they do. Why they do it is the question — I certainly don’t think it’s to get the vig. I think they’re cashing out an elephant.