Hopefully you don’t recall Fundstrat’s Thomas Lee telling “clients” that Bitcoin was set to rally just because the Consensus conference is going on this week, because if you remember that, it either means you’re a client of Lee’s or you otherwise pay attention to what he says – either way, that would not reflect well on you.
Unless of course the only reason you’re paying attention to what he says is to lampoon him which accounts for our interest in his “prescient” calls on the world’s most “valuable” valueless valuable. If you’re not familiar with Thomas, do yourself a favor and have some laughs at his expense here.
Well headed into this week, he was onboard with his colleague “Mister Doctor“, when it comes to Bitcoin going to $36,000 sometime in the not-too-distant future and guess what Lee said the best near-term catalyst was? If you said “Consensus conference”, you win a worthless digital token.
“We expect the Consensus rally to be even larger than past years,” he wrote, in an actual note to “clients” last week.
If you think that sounds some semblance of retarded, that’s because it does and is – retarded.
And not because it’s not entirely possible that Bitcoin would rally just because there’s a conference going on. But rather because we’ve all collectively bid something that’s predisposed to rallying on the mere prospect of a bunch of people getting together to talk about it, up to $8,000, which is of course some 60% lower than where we bid it to during peak insanity back in December.
Well sorry, Thomas (and Bitcoin apostles) – so far there’s been no such rally.
Oh, and remember all those pictures of the Lambos that came flooding in earlier this week as Consensus got going? You know, these, for instance:
The proverbial bitcoin lambos parked outside the Consensus conference.
Future of finance looks a lot like old finance (but possibly with even less gender diversity). pic.twitter.com/7QTbvqjk3W
— Anna Irrera (@annairrera) May 14, 2018
John Nouri makes a living renting out exotic cars for weddings, birthdays, bachelorette parties, and now … Bitcoin conferences?
Today he stood outside the Hilton Midtown hotel in Manhattan, guarding three Lamborghinis — bright orange, navy blue and black — that Broadway SuperCars had rented to BitMex for the day.
I mean, nothing further except for the memes. Because how could we not, right?