May 9, 2024

How Musk caused the biggest crash in U.S. market history (February 8, 2021)

For several weeks now, I have been watching the development of the crazy hype of the first digital currency - Bitcoin, whichafter certain manipulations, he pointed to the beginning of a collapse in it already in February of this year.
And today the most wonderful news comes out that Elon Musk’s company Tesla, whose stock growth is slightly inferior to Bitcoin itself, has bought Bitcoin itself.
That's all: the damn circle has closed. The bubble bought the bubble - this is the latest Chinese warning not only to holders of these two assets, but to all investors in the stock market (S&P).
And there is something intangible in this, somethingotherworldly: people enter into euphoria, see unlimited possibilities just by purchasing some asset, and hoping to get easy tens, hundreds, millions of dollars for it tomorrow and indulge in whims for the rest of their lives. However, it doesn’t work like that, everything turns out exactly the opposite. The desire to get rich quickly is evil; the desire to obtain tangible benefits for oneself without any benefit to society, apparently, too. And when many people unite in this thirst for greed and the euphoria from it, this leads to catastrophic consequences for all of them, and instantly.
We are waiting for the fall of the cue ball, Tesla, and all S&P markets today, and tomorrow, and the following weeks.