So, above Rs 250 Cr market cap (thats where I like to play mostly), out of 1168 companies:
> 40% correction : 6% companies
> 30% correction : 18% companies
> 20% correction : 45% companies
Not bad. So, almost evey second company is down by 20% from life time high
More from kumar saurabh
#NASDAQ Will NASDAQ crash? How much more correction is to come? How to track?
An extended analysis of the morning tweet is in this Youtube video. Like and retweet for wider reach
morning tweet on NASDAQ
An extended analysis of the morning tweet is in this Youtube video. Like and retweet for wider reach
morning tweet on NASDAQ
#NASDAQ How much NASDAQ can fall?
— kumar saurabh (@suru27) June 14, 2022
Since 2000, this is the 3rd worst fall in NASDAQ
2000: 77% fall from peak
2008: 55% fall from peak
2022: 34% fall from peak pic.twitter.com/MO8KNtzQez
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So the cryptocurrency industry has basically two products, one which is relatively benign and doesn't have product market fit, and one which is malignant and does. The industry has a weird superposition of understanding this fact and (strategically?) not understanding it.
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
If everyone was holding bitcoin on the old x86 in their parents basement, we would be finding a price bottom. The problem is the risk is all pooled at a few brokerages and a network of rotten exchanges with counter party risk that makes AIG circa 2008 look like a good credit.
— Greg Wester (@gwestr) November 25, 2018
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.