Bitcoin, Crypto and Gleeful DoubtersFunny - with the bitcoin drop Thurs/Fri, suddenly a lot of the "experts" - finanicial folk and many who write for financial papers online etc - were literally gleeful in their sudden rush to say I told you so. Now a bounce back...we shall see if there is a prolonged down period here or not, but I find the response pretty funny. I still believe that most of these authors have still done less research than a goodly number of investors. I have a small investment (9K) in Hive. I cashed out with that bizarrely timed warrant release in November, I think, making a nice bit of money in a short time. I then did a pile of reading, and bought back in with the more recent warrant release. My timing was not the best at 3.60, but I do not care. I hardly watch the stock, as I believe Hive is going to do well by the time they start reporting profits, which they should have very soon. Their flexibility with respect to coins that can be mined were the primary reason I reinvested, along with things like cost factor and time to product.
I posted this before - I actually think this "first" crisis as they like to call it will assist bitcoin/cryptocoin and a company like Hive, as I believe it will not only survive but show the doubters that it is not going anywhere. Half of these paid writers don't even know that Hive's active facility wasn't even mining bitcoin.
To me, crypto is a threat to them. Also, many of them in the financial mgmt and advisory businesses are no doubt getting HEAT from their paying clients who are tied up in traditional stocks watching the 2 taboos to the old guard - crypto and cannabis - making enormous returns for investors. So any opportunity to denounce them and watch these people pounce. A Motley Fool author just denounced all things crypto immediately during/near the tail end of the drop, predicting a massive plummet, and named a few companies that will suffer, including Hive. Time will tell, but I have come to realize that most of these people know absolutely nothing about crypto or cannabis. Meanwhile, a guy on youtube with years of experience with bitcoin specifically and who uses technical analysis just SHOWED - with his charts over years - how this drop is actually very, very normal for bitcoin and how he expects it to come back and continue up, as it has on a number of previous occasions. Time will tell....but this dude had some solid evidence. The article at MF - it had nothing.
I am very glad I did not listen to any of the experts and their advice when I got into the market in early October. Crypto and cannabis are 2 current investing phenomenon that we are lucky to be able to tap into. As I type this, bitcoin was back to around 15 k; etherum was up to 742. Of course this could drop again.....but what stock or investment vehicle doesn't? If I'd continued to listen to "the experts", I'd have stayed nvested mostly in the following companies and right now would be in the red instead of up and up a lot: Enbridge, Shopify, Loblaws, Enercare, TD.AMD. After a couple of weeks and doing a ton of my own research, I thankfully went with my own beliefs and dumped all except TD and went into the best cannabis related companies I could find, along with Hive, which I believed was the best of the crypto/blockchain related companies available. Bottom line - do your homework and take everything from experts with a grain of salt. Most of them, I believe, have reasons to try and speak negatively about these 2 sectors - because they themselves avoided them because they did not do their homework, and did not invest there for their clients or spoke out early and often against investing in these areas BEFORE doing any homework and are not looking too wise right now. I hope everyone investing in Hive and cannabis make serious money - I think the old financial guard hates it, and fear the repercussions from clients as these 2 sectors continue to succeed. Great opportunities for regular people to make significant financial gains. The paid managers/advisors are feeling the heat, and many of them should. For years, they have chosen to pick stocks for paying clients that require little or no management. So they buy them, do nothing, and ultimately collect their percentage of the typical 4% return. I have no doubt whatsoever that a trader with actual knowledge and skill (unlike me!) whio was active in daily monitoring could be making enormous profits for their clients in cannabis, for example. But that would take a wee bit more work than slapping money down on the typical biggies.