Oh my god the woke crowd is banning crypto ads, daddy musk will show us the way, time to put it all in crypto baby! To the moon!
Crypto is such an obvious scam that even Musk only really joked about it. Although, could you imagine if he'd dumped even more in prior to all these and held. But then, Musk is at least smart enough to realize the scam and clearly knows his base/demo well enough that he could play them on the crypto and in general. Problem is the fluffing might've gotten him to drink his own Kool-Aid.
I've seen an uptick in women claiming to be investors (and talking about crypto) on dating sites. Its always the same ones that either are clearly from rich families (where I seriously question if they're doing anything other than told their family makes money via investments), or seem to have serious penis envy judging by how they do all the normal guy desperately compensating to try and proclaim their manliness (they do all the stereotypical dudebro stuff, loves Call of Duty, golf, shooting, cigars/whiskey, has a Jeep/Tacoma/jacked up pickup, etc).
That's not to say there aren't women getting into investing but being smart about it. But they don't talk about it on dating sites and don't try to proclaim how crypto is so amazing but can't actually tell you jack fucking shit about it, other than "line goes up".
Since FTX didn't do it (in fact it's up about 30% since that happened) it's going to other macro forces to get it that low.
- Recession: stocks dump another 25-30%, and Bitcoin being the volatility multiplier maybe drops to ~12-13K.
- US Government ban: highly unlikely. And no one cares if some other country bans it for the umpteenth time.
- Tether Bomb. The only thing bigger than FTX. This is about as apocalyptic as it can get for crypto. But even then, USDC has grown to over $40B itself so it wouldn't be a total collapse.
You'd pretty need all three of these to happen to kill crypto. Otherwise, Ethereum fees continuing to rise (having days now where the minimum fees no longer fall below 20gwei) showing people
are getting back into it.
Well yeah, because there are idiots that still believe crypto isn't a scam and people that desperately need others to invest so they can get their money back out.
Apparently it won't matter. How many times have these influencers been slapped for such behavior? I think Coffeezilla has an ongoing thing showing Paul perpetually pushing scams (might not just be his channel, I know there were ones pointing out the scams he was running with the Pokemon cards, which came after I think multiple other times he's been called out for the exact same behavior concerning other products/promotion). Guess it pays to be diversified, but its clear the fines aren't enough to put a stop to this behavior. Don't these guys know that you gotta get in the stock market proper, find a fall guy to setup a Ponzi scheme for you to dupe others and then cash out before it crashes?