by Jeff Berwick, The Dollar Vigilante:
This time last year, we published an article titled “Bitcoin Is Now Good As Gold, Actually It’s Better”.
Now, this was back when a single bitcoin traded around $1,280.
There were quite a few haters back then who commented on the vblog we did for that same article saying these things:
In the last year, bitcoin has since hit $20,000 per coin and corrected back down to around $10,000 as of today.
Around 9 months after the above comments, I put out another video on December 15th suggesting that people begin rotating crypto profits into some of the forgotten gold stocks that have good upside potential.
And just as absurd as the comments from 9 months earlier, people began making statements in the video comments like;
“Gold will never go up, bitcoin will never go down” and this guy:
At the time of the video, bitcoin was trading at $17,700 and has since fallen 45%.
In fact, within two days of the video, bitcoin hit its all-time high near $20,000 and has come down dramatically since.
But, this just goes to show the madness of crowds and how sentiment can change dramatically so quickly.
One year ago, I was virtually assaulted for suggesting bitcoin was “as good as gold” and most of the commenters said bitcoin was in a bubble and “tulip mania” when it was near $1,300 while stating that gold was the best investment.
Nine months later and bitcoin had risen to $17,700 and I was lambasted for even stating that bitcoin could ever go down again… and nearly everyone commented that gold would never rise again.
This is why you shouldn’t be taking your investment advice from Youtube commenters! In fact, I often use it as a gauge of public sentiment and if everyone thinks something is going to go up… then it will almost surely go down. And, vice versa.
Your average person, after all, is an indoctrinated, vaccinated, fluoridated brainwashed slave that has been the target of mind control in the government indoctrination camps and via television programming their entire lives.
Read More @ TheDollarVigilante.com