Quote:
Originally Posted by zamler
That stock has been all over the place this year I can see quite a few people losing money on it.
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Ya, it was trading at one point at a ridiculous multiple to Eth, I got in just after its IPO. Lost a lot of money, on paper due to the Eth crash; however; so I averaged down to 60 cents, so this has been a very long-term holding for me. Though worth it, there are probably much better cryptocurrency vehicles.
Honestly, though, I'm not sure Crypto is a good buy right now. What is the upside on Crypto stocks vs stocks, ETFs, etc? Market confidence seems to be waning and Crypto valuations seem to be stuck. We are also seeing a lot of pump and dumps, NFT scams, etc.
This reminds me a lot of the situation we ran into at the beginning of 2018.