Hey guys, look at this FOLKS, truly a bloody lesson for those who are greedy. Throughout November and early December, it just crawled around the 10-15 dollar range. Those who were patient made a little thin profit. Then suddenly, on December 13th, it shot up like a rocket, reaching the 36 dollar mark, truly the highest peak! Looking at that price spike, a lot of people must have jumped in with FOMO, right?
But life is not like a dream! Right after the leap into the sky, FOLKS made a classic flop, falling straight down without brakes. In just a few days, from the peak of 36 dollars, it plummeted without brakes to the 10 dollar range, and then just kept sliding down to only 3.76 dollars.
The red indicator chart clearly reflects the market sentiment at that time, an extreme chaos when prices surged and then collapsed. Clearly, there was a massive sell-off occurring, wiping out all the gains of those who entered later.
So what now? FOLKS are lying flat at the bottom. Anyone who got caught at the peak is out of luck, considering it a lost opportunity for a prosperous Tet. And for those who plan to catch the bottom, be careful, watch out for catching falling knives. Just look at the prices, it's truly a deep sorrow for those who believe in this "train."
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