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I looked at it before I made the post. They went from $60 a share to ~$27 a share in the aftereffects of the spill. It was an example of how these companies wit
by cableshaft 9y ago
I looked at it before I made the post. They went from $60 a share to ~$27 a share in the aftereffects of the spill. It was an example of how these companies with great assets could still lose you money due to unexpected circumstances. I'm not asserting it went to zero. They've actually recovered quite a bit, probably due to the goldfish-like memories of the general public and the moral apathy of most investors.
That's kind of my point, really. If crypto goes low enough, especially if the price is down for no good reason (i.e. it's based on a single country in the entire world cracking down on it, not because the tech stopped being useful or interesting), there will be investors who will think it's underpriced and will jump back in, which will bump the price and draw more people back in, etc etc etc. Bitcoin went through exactly this in 2013-2015. It kept dropping and dropping and dropping, all the news was terrible for it, but it never dropped to zero because there was enough people who thought it was underpriced and bought and held, waiting to see if it would go back up. And boy, if they held through last year, those people won big time.