That's right. At the peak of the crypto bubble Matt Damon’s Fortune favor the brave commercial of October 28, 2021, was directed to all individuals whatever their status or suitability to invest to buy Bitcoin. Bitcoin opened at $58,470.73 and closed that day at $60,622.14, which represented the actual cost to buy one Bitcoin.
The very next day, our proprietary G-101 algorithm flashed a MAJOR SELL (SP-42.14) and DON’T BUY (SP-35.66) TAGS, and sited “the blatant boiler room tactics of penny stock promotors with the Matt Damon TV commercial – “Matt Damon the actor will cost investors at least $25 billion in one year if his “challenge” is accepted.” On that day, October 29, 2021, Bitcoin opened at $60,624.87 and closed at $62,227.96 USD.
Today Bitcoin is selling for $16,185.20 USD or a calculated loss of $24.5 billion accrued by the individuals and other entities that accepted Damon’s challenge and purchased Bitcoin.
Okay, G-101 missed the target by less than 1%. However, by taking advice from Matt Damon, a lowly Mystic Pizza pie maker who never graduated college and had absolutely no formal background in finance or economics, was reckless. As for G-101’s credibility, the algorithm under the direction of Northridge Corporation has constantly sent SELL or DON’T INVEST tags since early 2021 on Bitcoin and all products and services associated with cryptocurrencies.
On March 28, 2022, we posted: “Bitcoin is the most overvalued intangible asset since the tulip mania on 1634 - BITCOIN IS WORTH $150.”
On August 8, 2022, our article – THE MOON IS MADE OF COTTON CANDY. Note: Coinbase Global, Inc. (COIN) currently trades at $43.70 and still worth $15.00 or less. G-101’s first SELL SIGNAL TAG was November 26, 2021 when COIN was $301.30.
What G-101 reported August 8, 2022.
“Coinbase Global, Inc. (COIN) $98.91 had a 35-point jump since May 11, 2022, on short covering and noise that Bitcoin will rally above $35,000. Both are wrong: the shorts should have stayed short, and Bitcoin is worth $15.00 or less. As for COIN – Chapter 11 is the Company’s [COIN] future and a fifty cents stock as a collector’s item.”
“On November 26, 2021, G-101 Algorithm pulled the plug on Coinbase Global, Inc. (COIN) ($301.30) claiming in part, “COIN above $300 is like believing the moon is made of cotton candy. If you own it sell it, if you want to buy it don’t.”
“Coinbase withstands the worst of the broader industry’s problems, with its stock price fluctuating in parallel with Bitcoin and other volatile cryptocurrencies.”
WHAT’S THE POINT?
IF YOU DON’T FOLLOW G-101 YOU ARE LOSING BIG MONEY.