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To be clear, this is the thread we're in: > > I think everyone was completely caught off-guard by the ferocity and pace of the crypto drawdown. > If you were
by lkbm 4y ago
To be clear, this is the thread we're in:
> > I think everyone was completely caught off-guard by the ferocity and pace of the crypto drawdown.
> If you were caught off-guard then you've been sitting in a massive bubble.
OP is saying people were caught off-guard by the specifics of the crash. That doesn't require being in a bubble, because there weren't any specific correct predictions that were distinguishable from the specific incorrect predictions.
Non-specific predictions may be useful, but they don't prevent you from being surprised by the specifics.
- arcticbull 4y agoCoinbase was caught off guard because they drank the koolaid. You know who didn't drink the koolaid? Cumberland/DRW and Jump.
- Aperocky 4y agoThey are very useful when the prediction resulted in not participating in this market at all. For those who are in this market (as Coinbase is), they are useful in terms of planning and setting up a large reserve of rainy day funds - for less risky venture it may not be necessary, but for crypto it absolutely is. Unless plan B is to crash and burn which seems to be the MO for most crypto companies.