If there’s one thing I consider myself to be pretty good at it’s looking at a particular scenario and assessing its probability of playing out. In fact it’s been my bread and butter activity over the past 15 years, and by all intents and purposes I have it down to a science.
Bear market short squeezes have a deserved reputation for being a brutal affair. Simple reason being that anyone with a firing neuron can clearly see the writing on the wall. But if you happen to fall prey to common sense or logical thinking you’re very likely to have your account taken to the wood shed.
/unpopularopinion: Once again retail buys the top and sells the floor. There – I said it.
Chances are it hasn’t escaped your attention that we are living in pretty volatile and fast moving times. It’s by no means a new phenomenon, in fact I can trace back a gradual but consistent ramp up in general nuttiness all the way back to the 2008 financial crisis.
BlackRock CEO Larry Fink recently pulled what I often refer to as an ‘Adenauer’ **. Previously known as a prolific skeptic on all things crypto, Mr. Fink stated in an interview with Fox Business that Bitcoin had the potential to “revolutionize” the financial system.
With the next Bitcoin halving event less than a year away, we are seeing a sudden explosion in excitement for all things crypto. A major trigger event was the prospect of various spot Bitcoin exchange-traded fund (ETF) filings by several financial giants such as BlackRock, Fidelity, ARK Invest, Valkyrie, and others.