It is simultaneously amusing and annoying to see the constant “BREAKING” news from the crypto creeps, trying to come up with something – anything! – to re-ignite their dying crypto market. Whatever news is being offered is always “giga bullish” when, in fact, it is anything but.
I have anchored these charts to the day when Trump was elected, which of course caused a rally for a while since he and his team were the most pro-crypto crowd you could imagine. Longer-term, however, you can see that it has been a disaster for crypto, with the departure of David Sacks in his role a Crypto+AI Tsar (!!!!!!!!!!!) being a complete failure.
Then, of course, there’s American Bitcoin, the company created by the brain trust of Eric and Donald Trump Jr.:
As a person who has done nothing but roll his eyes at this entire Ponzi scheme, it’s nice the undoing of this ridiculous industry is well underway.
