I analyze charts. I look at fundamentals. I read white papers.
Elon Musk posts a picture of a dog on the moon.
And suddenly, my analysis is worthless because the coin he mentioned just went up 400%.
The Tesla Bitcoin Era
- Tesla buys $1.5 billion in Bitcoin. Price goes UP.
- Tesla says you can buy cars with Bitcoin. Price goes MOON.
- Elon says "Actually, Bitcoin mining is bad for the environment."
- Tesla stops accepting Bitcoin. Price CRASHES.
It was the most expensive mood swing in financial history.
Dogecoin: The Joke That Became Real
Dogecoin was created as a joke to make fun of crypto. Elon decided it was the "people's crypto."
He went on SNL (Saturday Night Live). Everyone expected him to pump Doge. He called it a "hustle." Doge crashed.
(I am still holding a bag of Doge from 2021. It is my souvenir of stupidity.)
The Power of the Tweet
Did you know? There were literally bots programmed to buy whatever coin Elon mentioned within milliseconds of his tweet.
The market wasn't moving on value. It was moving on celebrity worship.
Conclusion
Crypto is volatile. Crypto with Elon involved is just gambling with extra steps.
The lesson? Don't take financial advice from a billionaire who thinks the letter 'X' is a personality trait.
And definitely don't buy the peak. (Yes, I bought the peak. Don't look at me like that.)
