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Comment by bsenftner | Hacker News Reader

It's the gold rush that killed crypto-currencies. They are dead, but their gold rush enthusiasts are going to hang on for a decade hoping to recoup their pride.

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Last gold rush for crypto was in 2013 so ~5 years.

This goes in cycles, like everything.

There was definitely a substantial influx of new (often clueless) investors in the past 12-18 months.

When Bitcoin hit around 14K my mom had heard all about the rise on MSNBC/CNN. So she asked me how to buy bitcoin. She needed to replace her radiator. She had about 500 and needed 1200 so she thought it was a reasonable gamble. So I had her send the money to me and I told her I would invest for her.

I did not..

But I did inform her that when it crashed I just stuck her money in my savings account. And nothing was lost. I was willing to eat the loss if it had gone up when she wanted to cash out.

And I did buy her a new radiator. I don't have to give a shit about mothers day for the next decade.

Not sure what your point is here. Predicting price movements is not an easy task, even for experienced traders. If you bought at 14k and sold at 20k, you would've made money. Nobody really knows the direction the market is going, otherwise we would all be rich now. Some trades make better profits than others based on experience, but for the most of us it's just pure luck.

Really? That's strange. Show me another financial asset that has grown 686% this year.

One year AMZN calls @1000.

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