A #MysteryBroker update arrived overnight. Most is a skeptical take on crypto.
But on stocks, he says the rally's reached the upper limit of his recent forecast, he sees excess bullishness as a problem. Isn't calling for an immediate correction yet, but "getting very close."
But on stocks, he says the rally's reached the upper limit of his recent forecast, he sees excess bullishness as a problem. Isn't calling for an immediate correction yet, but "getting very close."
On crypto, #MysteryBroker is a non-believer, says Bitcoin is the one speculative part of the market that hasn't corrected dramatically (as solar, cannabis, pre-profit hypergrowth tech have).
Says the $COIN public listing will "likely mark the top" for cryptocurrencies.
Says the $COIN public listing will "likely mark the top" for cryptocurrencies.
The #MysteryBroker cites lack of intrinsic value in crypto (he also won't own gold, art, collectibles either).
Even if crypto displaces gold as investment asset, sees potential market much lower than total value of gold (~$10T) because half of gold demand is jewelry/industrial.
Even if crypto displaces gold as investment asset, sees potential market much lower than total value of gold (~$10T) because half of gold demand is jewelry/industrial.
That's it. But now more than ever, note how this all works...
https://twitter.com/michaelsantoli/status/1126487466540617728
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