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RE: Hey Mark Cuban, Stick to What You Know!
True... to an extent. However, when people use the word bubble they tend to imply that the asset is in a massively overvalued state which is not likely to be reached again. Would saying Bitcoin is due for a pullback or a correction not be a more accurate statement?
Perhaps, but this isn't how people used the word bubble during the dot-com bubble or the more recent housing bubble, and prices have gone back and were probably expected to back to what they were. Particularly the dot-com bubble I think is a relevant example because it is an example of a market that was valued correctly but a decade too early. We may be there with blockchain technology.
Yes I think you are exactly right. If you look back at a couple of my recent posts you will see I have posted a lot of price cycle graphs. Price tends to follow a similar pattern. The question I guess we have to ask is what stage of the cycle are we currently in?
I would argue we are somewhere near the bear trap phase...
By the "take off/first sell off" seeing mini ups and downs. "New Paradigm" is at least 10 million a bitcoin.
How many times could this chart repeat itself in one stock? We saw this chart the first time bitcoin went to $1 then $100 then $1000. Could this cycle keep repeating?
Feels more like enthusiasm stage for me. The public is about to enter the picture in a big way and then greed and delusion will follow soon after. Top in at christmas maybe?
Media Attn. is my guess. But I am not going near it. Good post. Not a Cuban fan. Posting a screencast on todays market action, I discuss a little on the $ and bitcoin amongst other things. Have a good one :)