"The main purpose of the stock market is to make fools of as many men as possible."
Monday, February 5, 2018
The good news about the crytpo bubble bursting
It's clearly game over for crypto. I said before that the sooner the crypto bubble pops the better. News about crypto ETFs being pulled and credit card companies beginning to ban it is a GOOD thing (although I was hoping for an ETF rollout so that I could buy puts on it). The longer this crypto mania would have continued the greater it would have infected the general economy when the inevitable collapse happened. Hopefully the fallout to the economy will be minimal although it's tough to say at this point how much unwinding of leverage and capital destruction this will result in. I for one will NOT take this fallout lightly. I really need to find out what kind of damage this has resulted in.
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