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Long Blockchain surged 183 percent after its rebrand in December 2017, Andreas Steno Larsen notes
Andreas Steno Larsen recalls the events of December 21, 2017, when Long Island Iced Tea rebranded as Long Blockchain and its stock price surged by 183 percent on the same day.
Larsen points out that this event occurred less than a week after Bitcoin reached its peak price, which was followed by an 80 percent decline over the following year. He adds a note of skepticism about current market optimism, implying that past patterns may be relevant for today.
Larsen has previously tracked sharp price movements in commodities. In a recent analysis, he reported that U.S. gasoline prices surged by $0.93 following the onset of war, reaching an average of $3.93 per gallon. He has also discussed how financial analysts assess warfare risk from a macroeconomic perspective. These observations frame his interest in major market inflection points.
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