I understand your use of cryptocurrency as a hedge and simply that you have the money to speculate
The tone in your post is quite palatable and the content of your post is informative
I enjoy this kind of post as well as the posts the other guy made in the middle of the thread who led on about the impact of whales on the movement of the price.
However when someone starts insulting the intelligence of the community saying that certain people are not knowledgeable or educated enough to post in the thread, that raises red flags. We are bombarded by crypto news on the evening news and in financial/business news we subscribe to. How can anyone not get the gist of it and determine whether or not it's right for them? Anyone who has something to say, whether they're into crypto or not, should say it to keep the conversation honest. It's that simple.
I'll go ahead and say it, cuz it is the elephant in the room. The tone of the cheerleaders at peak times is, get into this now, you're going to make tons of money or I'm making so much that I can quit my job soon. I think they're doing that to appeal to greed, to try to generate interest in buying, which pushes the price up even further, so they can sell at a designated high while everyone is left holding the bag before the price drops. The tone in their brash enthusiasm rubs me the wrong way. I don't believe they are making the money in crypto and getting rich off of it; it is an illusion they want people to believe. Why would anyone put a sticker on their car with bags of money next to the stick couple? It's in bad taste. That's what I believe and I believe I have the right to post that. If you read other members posts, you can tell they're skeptical as well. When I post, I guess I am more direct than most.
I am sorry to have misled anyone to believe that I had passed judgement on people who buy crypto in general who don't rub me the wrong way
The way I see it, in the stock market, you have control over the volatility of your total holdings. With crypto, seems like there are people who can manipulate the price of your holdings overnight while you are sleeping.
In yesterday's Bloomberg Close:
Traders have pushed premiums for defensive stocks to fresh records, putting growth companies with reliable earnings at a two-decade high versus value shares. A number of hot IPOs, including Beyond Meat and Chewy, fell for another day, as investors sell off the more volatile bets after a weeks-long buying frenzy.