Dogecoin, what the hell just happened with saturday night live and elon musk. I just got done watching the show, and i have a lot to say this was insane. I think elon musk in general was way above average of the regular host. This show has - and i think snl was actually quite smart - to get him on with the whole cyber track saga around it.

The lucid commercial in the middle, the whole beef with henry rollins on the elon musk, there's a lot to talk about, but we cannot ignore the elephant in the room, or rather the doge in the room and trust me. That was not scripted. I'm just that insane and if this is your first time here here, are the instructions on how to watch this video? Don't click, nothing, don't smash, nothing! There's! No courses to buy there's nothing to subscribe. Just, listen! Give me your attention for the next five minutes and i'm gon na show you some important stuff.

That's it so, as you probably know, dogecoin was at its absolute peak 72 cents per coin, once the show aired now just to give you some reference. How insane that is! This coin went from being just a few cents to 72 cents, for literally no reason that i can understand or fathom. However, the fact remains that if people played it correctly, they made a lot of money just to give you some reference numbers. If you invested a thousand dollars into dogecoin on january 1st 2021, you made a hundred and twenty thousand dollars by the time.

The show aired so good for you. I respect the hustle no issues at all and i'm sure a lot of people became millionaires because of dogecoin. That is a-okay. I have no issues with that at all.

Now. Here's what i think actually happened here and, of course we cannot ignore what happened with robin hood as well. As always, and at this point i came to expect it from revenue. I was basically counting down looking at okay when robin hood are gon na go out of business, because every time we have some peak issues, robin hood basically goes boop, sorry, we're not home and again jokes aside, they're, actually getting better.

The outages are not as bad as we had with gme and the other stuff, but they have outages, which i think for me is not good enough. If you want to go public, if you want to become a brokerage for the people, you can't have an outage at peak trading, because that's where the money is made or lost, and now to the 72 cents question how the hell the dogecoin went from 72 cents. At the peak once the show aired to currently 46 cents and here's my theory about what happened. I think that the doshan community had unrealistic expectations from england as far as him saying something drastic, something insane a huge hype event, something along the lines like we're going to be accepting those going as payment for tesla like he did with bitcoin.

However, that moment never came. There was a moment where people kind of thought that it might happen when he said i might say something crazy, because this is live tv. However, he followed it up with a prio's joke, which was fine. However, that was the beginning of the trend of the sell-off.

Then we had his mom take a little shot at dogecoin, which i think was adorable, but nothing more than a joke. However, things really got bad during the news hit when he was the cryptocurrency expert and he was essentially unable to explain what dogecoin is. That was a whole joke. Of course that was normal.

That was funny. However, at this point, people are really starting selling off. Now. Here's the thing you need to understand here and again, nothing against dogecoin, but here's what i think.

I think that in general, investing uh based on the greater full theory, essentially just buying an overvalued asset just because you think somebody might pay a dollar more. It's not a really good strategy as far as sustainable investment strategy, and i think you might hit a few lucky shots and in that respect i want to share with you a good rule of thumb that might actually save you a lot of money if you, as A retail investor actually hear about some sort of a hype. That's going on the market, that's probably way too late, you're, probably one of the less guys through the door, because by the time you hear about it, it's already been blown out of proportion. Then you're chasing fomo, then you're buying things.

You can't really understand. What's the business plan, what the fundamentals at this point it becomes gambling, but the odds are usually stacked against you and, unfortunately i think that's exactly what happened here. A lot of people chased, the fomo chased the hype. We already knew that cryptos are volatile and dangerous.

The further you go from bitcoin on the spectrum of these coins. You get more volatility, more risk, as you just saw, and that's normal. That's nothing out of the ordinary. I have no issues with it.

So what happened with dogecoin? I think what happens with dogecoin is exactly what's been going on for the last few weeks. Dogecoin because it lacks any kind of fundamental analysis, is extremely correlated to social media. To expectations to basically what elon says and doesn't say to mark cuban all these guys essentially there's a lot of media and social media. That's driving this coin up or down.

I think people's expectations about what elon will say about doscoin during that saturday night live were not realistic, and at this point i want to show you this article. This is andrew bailey he's the governor of the bank of england, as you can see right here. This is an article where he's essentially very consistent, he's always been saying that cryptocurrencies are dangerous and he's essentially saying cryptocurrency. Investors should be prepared to lose all their money you're going to get a lot of this fud right now in mainstream media using the whole dogecoin snl thing as proof to that argument, but there's two things you need to understand here.

If we scroll down here, i want to show you something interesting. If cryptocurrency was that dangerous and that negative, would we see this paragraph right here? At the same time, central banks are considering whether to issue their own digital currencies last month that same bank of england launched a joint tax force with a treasury aimed at exploring central bank digital currencies or cbdc's. Such currency would exist alongside cash and bank deposits rather than replacing them. The bank said sounds familiar.

Essentially, these guys are working on putting their own cryptocurrency in the game or digital currency, so anything that comes out from them. Essentially, bashing bitcoin has to be taken with the grain of salt now. The other thing i want you to understand here is that dogecoin or any other coins are volatile game, and i think this volatile pattern and extreme correlation to social media meme world and all that good stuff will continue as far as dogecoin as long as it exists, Which can be indefinitely, and i think that this is just the type of coin it is. If you want to invest in it.

You have to understand that it's completely totally driven by social media by hype and that's okay as long as you understand it, but then again in dogecoin's defense, a lot of the stocks we talk about are completely driven by social media and hype as well. However, the big difference, in my opinion, between blue chip stocks and dogecoin and other cryptocurrencies, is that blue chip stocks over the long haul fizzle out. These volatile behaviors and the good companies actually survive and get better, and the share price goes up over the long run. But in the short term and the medium term, there's not a whole lot of the difference between stocks and cryptocurrencies.

They all depended on good or bad news, and that's fine there's nothing wrong with it. So, in recap, i think the show was phenomenal. I think elon absolutely killed it. He had some phenomenal jokes.

I think he made a courageous statement in the beginning about asperger's, which i think was very empowering and good for him, and that is all i have to say about it. Thank you for the channel members. Thank you for the patrons for making this video possible. We'll see you guys in the next episode.