The $10,000 Surprise
Tim Knight | Apr 19, 2021 01:45AM ET
Perhaps you’ve heard that crypto is (once again) crashing:
So now that Tesla (NASDAQ:TSLA) has proudly boasted that they would accept Bitcoin for their cars (who CARES??) and someone bought one a few days ago, I guess Tesla gets $10,000 less on the vehicle sale. So is that a benefit?
Let’s just pretend for a moment that we’ve reached the absolute top (just as a thought experiment); what would some of the tell-tale signs be?
- Dogecoin (created in three hours as a JOKE) reaching $52 billion in value;
- Coinbase (NASDAQ:COIN) (symbol COIN) going public within hours of the lifetime high of BTC;
- Me actually offering up some enthusiasm for a few alt-coins
This isn’t the first time crypto has had a tumble. Hell, it lost virtually all its value in the year 2018, only to go up almost TWENTY-FOLD afterward. So there’s no point in saying this is The End.
I will note however, things aren’t looking so great. Bitcoin has clearly lost its momentum, and we’ve got a very clear pattern failure:
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