Let’s say it like it is: it’s been a tough six months for bullish BSV traders.
I am reminded of the market adage:
The market can remain irrational longer than you can remain solvent.
Irrational is an understatement.
We are living in an upside down financial world: Black is white. Buying bankrupt company stock is a foolproof money maker. TSLA valuations are greater than the rest of the auto industry combined. Closed economies are bullish. Staked DeFi tokens can pay 75% returns in perpetuity. Public company CEO’s are buying mass quantities of BTC.
This is Idiocracy applied to the Financial World. Like frogs in a slowly boiling pot of water we have are numb to how crazy the markets have become. Fool’s Gold indeed.
Fear, uncertainty and doubt are an investor’s worst enemy. I’ve had all three in ample quantity the past few months.
Fundamentals are difficult to keep in focus when the world is upside down. In the face of this I have double checked my math and reviewed the models. The fundamentals for BSV remain sound.
BSV is definitely battered but not beaten.
The Mayer Multiple indicator for BSV is nearing a buy signal again. I have written about the Mayer Multiple signal here and tweeted about it multiple times during the last down cycle of BSV.
Update for December BSV Mayer Multiple. Lots of buy signals triggered. pic.twitter.com/bjm1DfYE84
— Coinspeak (@coinspeak_io) December 26, 2019
BSV is nearing the Mayer Multiple buy signal again. This has been a reliable signal and only comes at the extremes of cycles.
The current global market trends have baffled many experts. Sanity will (must) return and at that time those who can see true value will be richly rewarded.
Oh, and one more thing:
yooooo 👀👀👀 @kanyewest pic.twitter.com/SZJhGWI5aB
— Twetch ✪ (@twetchapp) September 19, 2020