One area in which real life tend to drastically differ from Hollywood films is the outcome pf the contests between Davids and Goliaths. It is difficult not to be reminded of this when witnessing events on New York stock market today, which went against the script written by supporters of Wall Street Bets movement. Reddit investors might had enthusiasm, gained sympathies and, ironically, became subjects of upcoming Hollywood film but in the end began to succumb to brutal reality of market fundamentals and opponents with more financial resources and political backing.
In other words, with GameStop and AMC stocks experiencing free fall today and closing below important psychological price levels, another Hollywood-like fairytale experienced devastating crash with real life. The cause of stock market Internet revolutionaries wasn't helped by attempt of their cheap imitators to repeat GameStop and AMC magic with opportunistic and, from financial and economic standpoint senseless, attempts to pump up prices of Dogecoin, silver and XRP. All those major pumps experienced more or less spectacular dumps, setting the tone for major stock market blood bath on Tuesday.
And all this happened while the traditional stocks went upwards, and, what is even more importantly, cryptocurrencies continued their bull run. That included Ethereum which, after long three years, reached not only All Time High but actually went above important psychological milestone of 1500 US$. Even the long-suffering HODLers of HIVE have reason for smile due to their favourite cryptocurrency joining the upward trajectory and value of their bags being additionally increased by Hive Dollar pump.
So, today cryptocurrencies again proved to be much safer and efficient method of wealth accumulation than stocks. If the Little Guy indeed wanted to beat Wall Street, playing the Wall Street game and using Wall Street tactics was ultimately a bad idea. Brave new world of post-Wall Street economy won't be achieved with brand new tactics and brand new weapons being used in such struggle. After all, David, for all of his bravery, was wise to use sling instead of suicidally engaging with Goliath in close hand-to-hand combat.
Blog in Croatian https://draxblog.com
Blog in English https://draxreview.wordpress.com/
Original Hive blog (Film & TV) https://hive.blog/@drax
Minds profile https://www.minds.com/drax_rp_nc
Uptrennd profile https://www.uptrennd.com/user/MTYzNA
Rising Star game: https://www.risingstargame.com?referrer=drax
BTC donations: 1EWxiMiP6iiG9rger3NuUSd6HByaxQWafG
ETH donations: 0xB305F144323b99e6f8b1d66f5D7DE78B498C32A7
Posted Using LeoFinance Beta
Congratulations @drax.leo! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out the last post from @hivebuzz: