Words of Rizdom

Gary Stevenson: Bitcoin is GOING TO ZERO!

10 snips
Feb 5, 2025
In this engaging discussion, Gary Stevenson, an acclaimed trader with a P&L exceeding $60 million, shares his unconventional views on the crypto landscape and the future of Bitcoin, insisting it might be headed to zero. He dives into the psychology of trading, recalling personal experiences from volatile markets. Stevenson offers a secret trading strategy touted as having a '99% success rate' and emphasizes the importance of economic understanding, warning against speculative investments. His insights on rising inequality and the influence of figures like Elon Musk add depth to the conversation.
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ADVICE

Trading Advice

  • Be wary of trading advice on the internet, especially from people flaunting wealth.
  • Follow recommendations from trusted sources closely and avoid emotional decisions.
INSIGHT

Trading Apps as Addiction

  • Trading apps are designed to turn users into gambling addicts, creating a cycle of wins and devastating losses.
  • Beware of "hurricane insurance" trades that offer consistent small gains but carry the risk of total ruin.
ANECDOTE

Friends' Trading Mistakes

  • Gary Stevenson recounts how his friends, despite receiving a good trade recommendation from him, lost money due to emotional trading.
  • They bought high after initial gains, panicked during a small dip, and ultimately deviated from the initial strategy.
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