Oh, I haven’t invested in cyrpto - when it was first coming out I was in IT and wanted to see how it worked. There was someplace giving .004 bitcoin free with a new account. I signed up. Then I signed up again. Then I transferred one to the other and ended up with .008 bitcoin (or maybe it was .00008) - I also did some mining, which amounted to squat.
So have a $0 cost basis on my crypto. Pure profit baby!
JimA
Dang I thought it was Ned Flanders. Wrong again.
The full story for those who don’t remember is that Henry Blodget was a stock analyst who got in early on dot.com stocks. He became viewed as sort of a guru, as he would predict some Internet stock would go to some crazy high valuation, which worked because all Internet stocks were pumping. So he had this circle of self-fulfilling prophecies. He recommends a stock, and the price pumps as people jump in hoping to catch the wave. So he recommends another stock and the price pumps for the same reason. Worked last time didn’t it? Line go up! FOMO! Rinse, lather, repeat.
Of course, his price targets were all fugazi. The bubble burst and now he recommends people buy the index.
Tom Lee thinks Bitcoin will go to a million. Why? Line go up! FOMO! Rinse, lather, repeat. I have seen this movie before. I know how it ends.
That is definitely possible, it has had big drops before as you can see on the chart. But it always comes back. With all the ETF’s, Your President and everything going on I can’t see it not doing well for at least the next 3 years. But I could be wrong.
Something must have happened. You have become the consummate long.
I change my mind when the market changes. I became bullish on 4/22 and will change my mind when the market changes. People lose too much money trying to prove they are right.
Look at this.
That is the Nasdaq. How can you be bearish when it has been holding above that green line(21EMA) for so long. If you want to get bearish wait till it drops below the Red line(50sma) That would be around 19752 but maybe you would prefer 20,000 because that was around the top before the last down turn? Until that happens I will stay bullish. You hardly have two drops like we had in April in the same year. But who knows, these are treacherous times and I am just watching what the market is doing.
The economy is not the market.
I am positioned for a different economy on the sidelines—safe and sound.
Peter Lynch’s Market Observation: ‘Far More Money Has Been Lost By Investors Preparing For Corrections, Than Has Been Lost In Corrections Themselves’
I am sure Peter explained that to Warren.
But that does not make me Warren or Peter.
Some things do not need to be said.
Some things do need to be said, you are not peter or Warren
This is an interesting thread to revisit. Tom Lee made a prediction of Bitcoin to $250,000 by the end of 2025 and $1 million in a few years. Similarly, he predicted Etherium would be about $5,000 near term, and $10-20,000 in a few years.
Shortly after he spoke those words, Bitcoin began to crater. A year later, Bitcoin is at ~$60K, down roughly 44%. Etherium is at ~$1,600, down 34%.
The reality is these charlatans have no idea what the price is going to do. They spout nonsense hoping someone will come along and buy their bags.
Disclaimer: I think these currencies are a sham, for the most part. Criminals seem to favor them. I will never accept payment in this form. So, yeah, I have a negative attitude towards this stuff in general.
I am always suspicious of “price targets”. Does the prognosticator have an interest in moving the market? Or does his employer? If so, they can’t be trusted. Whether it’s crypto or a company stock. If they benefit from market movements, I don’t trust them.
It’s a very lucrative business.
When your meme coin does this…
and you pull in $636 million, strange things are afoot at the Circle-K.
https://www.nytimes.com/2026/06/30/us/politics/trump-financial-disclosure-crypto-windfall.html
You gotta admit, after a little initial volatility it’s been quite a smooth and predictable chart. Perfect investment!
