By Staff Reporters
“Market top”= when investor behavior became so irrational, so carefree, that it couldn’t possibly defy gravity forever.
CITE: https://www.r2library.com/Resource/Title/082610254
What are the warning signs?
Here were a few floating around the internet this week, according to Neal Freyman:
- When Matt Damon said, “Fortune favors the brave” in a Crypto.com commercial in October 2021. (It actually was kinda the top, because bitcoin peaked at $69,000 a few weeks later.)
- When one investor went on CNBC last year to promote his investment in a lending platform called Upstart, he was asked what Upstart does. He hesitated, told the anchor his audio had cut out, and never responded.
- When Dogecoin surged more than 10,000% to become the fourth most valuable cryptocurrency ahead of Elon Musk hosting SNL.
- When electric vehicle startup Rivian was worth more than $110 billion and didn’t bring in any revenue.
- When NFT platform OpenSea raised money at a $13.3 billion valuation—more than the value of American Airlines.
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