Karen Finerman admits she owns Bitcoin.
Less than 1 week later; a flash crash in Bitcoin.
It flashcrashed nearly 10% overnight, and nothing reported on it.
What a great contrarian indicator CNBC Fast Money is!
I don't know what any serious money manager would be buying Bitcoin, and then admitting it on television, but apparently this isn't the first time...
Interviewing Karen Finerman on her opinion of bitcoin and where it's headed is more useless than an ejection seat on a helicopter. Literally all she knows is buying shitty value traps and holding them for years, literally zero idea of how to trade. #FAIL
— CR (@CashRocket) November 17, 2020
The Truth about Bitcoin
The truth is Bitcoin has been trading in a sideways range - like most everything else - for going on 5 years now! Is a worthless thing, which is backed by nothingness, and to compare it to gold is utter idiocy.
Homework
Chart Bitcoin
Find where Bitcoin was trading in Oct 2021, and see what happened next
CNBC Fast Money Final Trades:
— Trakfeed (@trakfeed) October 18, 2021
Tim Seymour: Schlumberger $SLB $34.82
Jeff Mills: Prudential $PRU $110.99
Karen Finerman: Bitcoin $BTC $61,758.53
Guy Adami: Biogen $BIIB $269.50@timseymour @jeffmills_bmt @karenfinerman @GuyAdami @CNBCFastMoney @CNBCFastMoney
The broader market?
Don't even get me started...
Yes, I'm still Net Long in the 401k account, but I'm unimpressed with yesterday's Monday morning surprise to the upside, in the same sector - the only sector - that's been pumped for the past several years, Tech.
$PSE - NYSE Arca Tech 100 Index - Trading at all time highs
The SPX?
Key support on $SPX market futures 4662. I question if yesterday's breakout will last... pic.twitter.com/tONa7WqepA
— Veteran Market Timer (@3Xtraders) December 12, 2023
Take Care, AA
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