When it comes to the crypto space there has been no shortage of “Experts” and “Gurus” willing to sell you their advice for $Thousands as long as it’s in cold hard cash via your credit card. But I digress.
Some of these so-called “experts” were on “Bubble-Vision” (aka the mainstream business/financial media) so often the drug company commercials were envious. They came on to tell anyone with a pulse that “This is it! The winter in cryptos was over!!” Then, as had been the case prior, as soon as they said “This is it!” It appeared to be over. And their faces were now seen more commonly on milk-cartons, rather than television. Funny how that happens, no?
Suddenly you had people like Tom Lee openly complaining about people continually asking him on his thoughts for where cryptos were heading. Again, when it was going up he seemed to be taking any and every interview call. Then as it fell, again, he seemed to be unavailable. Scheduling conflicts, I’m sure.
Then you had James Altucher opining about how everyone hated him for his plastering of ads across the media. Hint: No Jim, if I may call you that, I have a feeling it was because you sold them what many realized after the fact to be something that made snake-oil look legitimate. But that’s just me. Do I also need to remind anyone of retire rich on “Weed?” And if you bought (literally) into that also? Again, you have my condolences.
Just to make this point: These people (and those like them because they seemed to be everywhere) when it appeared they, once again, had the winds at their backs as cryptos appeared to be rising from the dead. They all seemed to be chanting in unison “Winter is over!” And of course willing to sell you their advice for an additional fee. (credit cards that transfer payments in cold hard cash to their accounts both recommended and preferred I would garner, but again, that’s just me.)
So with the above for context and history now in the books, how did it all work out? Or, more to the point, who made the better of the call? The so-called “Experts,” “Gurus” or yours truly?
Well, let’s just say, all the aforementioned “experts and gurus” weren’t even close.
Using some charts or, as they like to call them in The Valley, “pictures,” the attached “family album” speaks for itself.
I’ll start from the beginning which was in May of 2019 when things first began to move, and when the television replaced the milk carton. The charts were notated at the time of posting and speak for themselves. I’ll link to the latest article that has all the back-links to the previous as it was an ongoing commentary (Here). To wit:
The above covers the period from May through September. Here are the finals as of December 31, 2019. Again, to wit:
And here is how that long projection call performed. Just to reiterate: that channel line was drawn way back in May and the circle in July, all beforehand, meaning – the market had not shown its hand. Now look at how the market twice touched that upper channel line twice and with precision. Think that area wasn’t important? And remember – I drew that line 8 months prior. To wit:
Although my ultimate (i.e., “Lottery Target”) of approximately $4K or so was not hit (we got as low as $6500 twice). Both the direction and path was spot on. Everyone told me that my analysis was “off base.” Everyone told me “You just don’t get it!” and more, a lot more. And many were loaded with profanity and insults that made preschoolers appear erudite in comparison. Just like in 2018 – till it ended right where I said it would.
Now, just like the “experts” and “gurus” they followed and shelled out their money to for “advice.” Let’s just say “milk-carton” comes back to mind.
Where will it go in 2020? I have no idea nor do I care, which I have said ad nauseum during these past two years. But the one thing I do know is this…
I had a little bit more of a clue than not just some, but basically, all of the so-called “experts” and “gurus” that were paraded across the media.
The “pictures,” as they say in The Valley, proves it. Period, end of story.
But then again, what do I know.
© 2020 Mark St.Cyr