Seriously? Fuck XRP! We gotta start talking about Cannabis Stocks here more!
I wanna start this post out by saying FUCK XRP! After getting just completely decimated the past couple of months, to fall to a low 92.7% below the high, it has had a nice dead cat bounce and crypto morons everywhere have gotten incredibly bullish on it for idiotic reasons. Price was rejected hard off of the 200 day moving average, which is pointed firmly downward. This move could keep going a bit, but I think we've got seriously limited upside on XRP due to all the bag holders from the last bull run. People have had plenty of time to think about taking profits rather than holding to their own demise. XRP has no real history of supporting any level of price like bitcoin, it just pumps, and dumps.
Meanwhile bitcoin is showing incredible resilience here. Bitcoin has shown price support above the lows for a considerable length of time, and it is known that markets correct through price or through time, or a combination of both. Sideways action can serve as a correction to increased price activity.
I am starting to think I could be wrong about my prediction for STEEM to go lower. It's showing some strength here, and I'll be happy to see whatever move it makes here. I will take advantage of lows, and I'm a hodler for highs. I'm so torn these days between bitcoin, litecoin, steem, and the Cannabis Stocks.
Cannabis stocks are super hot right now, we've seen Tilray rise to a price of $300 a share and a market cap over 20 billion, which is truly insane for a company pulling in under 10 million in quarterly revenue. It has passed canopy growth to become the biggest Cannabis Stock on the market. I feel like we're about to see a repeat of what we saw in crypto in 2017, in Cannabis Stocks going into 2019.
My theory is that wealthy whales who just don't feel they can assess the crypto space just bought everything, pumping it all, then dumping at least down to their initial investments to give themselves time to figure out what is what. I feel we will see the same thing in Cannabis. Whales do not know who is going to be the winners, so they will likely pump it all, and then dump it down. I'm currently liking GTBIF, TRTC, MMNFF, and MPXEF. Let me know what you guys are liking in Cannabis!
Be careful with Tilray. Get your investment out as quickly as possible then let the profits ride. There is some sketchy numbers going on and some of it doesn't make sense. But hey profits are profits. Riding those profits now. But I don't think it is sustainable in the long run and I think it is being pumped for a dump.
I am not in Tilray, wish I was. I am thinking about shorting it :)
The numbers don't make any sense. It is all the talk on the pot stock fb page I belong to.
O ya i can see tilray sticks dropping fast.. it is going up like bitcoin did so i see it going day fast. Plus they are a government grower so they are gonna be shit thc capped weed
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The dip started today, talk about calling it.
O ya that's a big drop... might just be dip for someone to buy more
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The climb didn't make sense at all it was a pump and dump Now waiting for it to return to what it should be at before buying back in, Shoot I am not gonna miss out on a pump if I am already in it I will take advantage but those numbers didn't make any sense. But people who pump shit like that to dump on those who are not educated are things I do try to stay clear of. But I warned people what it was.... So if they didn't protect themselves that is on them I guess. But I really hate pump and dumps it just hurts the overall markets in the long run. IMO
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I have thought about going in on some the low cap cannabis stocks.. tilray is gonna dump hard.
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I have thought about going in on some the low cap cannabis stocks.. tilray is gonna dump hard.
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