This is one of the classic bull which gone irrational. I still remember the second board those days when a stocks worth RM 1 shoot up to RM 100. There will be still reason to move up further.
Fundamental is dead these days as a lose making digital disrupt company can worth billions of dollars. Bitcoin is suppose to be a currency that avoid world financial policies influence and stay fair play. But today is highly speculative. If the of major countries to allow this to happened. It will have a long term effect to all economies.
If you think a PE of 40 times of some Nasdaq is ridiculous. You will rethink when bitcoins up from 450 a year to two ago until above 9,000.
Fundamental is dead and digital economy is wrongly valued due to no governance. It becomes a biggest loop hole of speculation that may involved illegal activities.
I may be wrong because there may be a major crash ahead that I don’t foresee. That’s why all money are moving into digital currencies.
We may initiate a short time to time. But the current irrational bullish can go further as no one perhaps can understand it.