For anyone who invested at the top of the crypto hype cycle over the past few weeks, today is a reprise of “Black Tuesday.” By October 29, 1929, the Wall Street Crash had ended the Roaring 20s. This “very bad day” in crypto is a day where the faint of heart and newbies will take a gigantic beating, while HODLers will welcome the buying opportunity at bargain basement prices. The sun will come up tomorrow… or will it? Other than the obvious bursting bubble, is there anything to be learned from this brutal sell-off?
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About Shelly Palmer
Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications and CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with AI strategy, implementation and governance, as well as technology, media and marketing. Named one of LinkedIn’s Top Voices in Technology, he is a bestselling author, covers tech and business for Fox 5’s Good Day New York, is a regular commentator on CNN, and writes the popular daily business blog Think About This. Follow @shellypalmer or visit shellypalmer.com.