Well that was a grand experiment. The developers must have packed up and went home. All the users shut down their wallets. Elon has spoken so the market obediently listens.
Crypto is dead.
Or this is the indication we are getting from those who put a lot of stock in the market. The FUD is in high gear with people complaining how Elon killed it all.
For years I espoused the idea of ignoring the market. It tells us little to nothing. Other than looking for buy and sell points, the market is completely useless. This is especially true if the accusation that the market is crashing because of Musk. If that is indeed the case, then the stupidity level among the market participants is legendary. Anyone who buys or sells crypto based upon what Musk says certainly has a screw loose.
In this video I discuss how we need to look at that which is truly important. Since the market does not know, nor care, what is going on, it is vital that we do. This is how fortunes are made. So, if you believe the market, all of his is in peril. However, if you understand what is taking place, then you know that is completely foolish.
▶️ 3Speak