Good Lord. What a wreck the crypto space has become. I think the destruction is far from over. On the contrary, the “pregnant pause” that crypto has taken following the FTX debacle is perceived by most as just revving up for an assault higher. Not me. Once another shoe drops, we’ll just resume plunging. It won’t be that many months before BTC is below $10,000 again, James Altucher’s genius notwithstanding.
In turn, stocks dependent on crypto have been getting trashed. Take Marathon Digital Holdings, for example, which in thirteen months has a mere 6% of its value remaining. See that green line? I think we’ll be south of that soon, and a 94% loss will ultimately work its way toward 99%.
In case you’re wondering what the chaps at MARA do with their time, here ya go:
You clever devils.
