Strongin believes that crypto will likely trade to nothing due to a lack of intrinsic value. He compared crypto to the dotcom bubble of the late 90s.
DroneShield Limited [ASX:DRO] shares increased by 6.38% this morning.
In 2017 the ability to raise money through an ICO was incredible. You could easily pull in tens of millions worth of fiat money and crypto contributions in a matter of minutes. Inevitably, this left a whole heap of new crypto projects with huge wads of cash. But there was one huge problem.
You’ve probably read all about Chinese tourists fuelling Australia’s tourism boom. But did you know, as more come to enjoy their Aussie holiday, Chinese tourists will change the way you buy everything? While we in the West love our credit cards, Chinese seems to have skipped them altogether.
This is the pathway to mainstream crypto adoption. Making crypto easy, accessible, fun and educating people about it is no easy task. We think that soon you’ll start to see physical locations — shop fronts — open up to give the main street people an ‘on ramp’ to crypto.
CSG Ltd [ASX:CSV] stocks crashed a deathly 31.72%.
Today there’s too much information available. There are too many channels screaming for your attention. So whom do you trust? Who do you believe? Who is credible? Who is accountable? What we can also tell you is that transparency is a tell-tale sign of those you can trust.
Snap Inc [NYSE:SNAP], the owner of Snapchat, continues to surprise us all. Their shares increased by a stunning 47.01% this morning.
Many believe buying bitcoin is equivalent to gambling. But over the weekend you could have actually gambled with bitcoin. Last week, Neds, an online Aussie wagering company, said they will launch a fully functioning cryptocurrency betting site. Customers can deposit, bet and withdraw in bitcoin.
Unfortunately, such quick and easy gains give many investors an unrealistic view of how markets work. This is what changes the psychology of markets and sees money pour into stocks, pushing them higher. This is exactly what happened in crypto markets at the end of last year. This is how bubbles form. Bubbles are a result of belief. Busts are a result of disbelief.