I spent a fair amount of time walking through airports on Saturday, and almost every single advertisement I saw was about cryptocurrencies. I’m serious. Grayscale this and Gemini that. I was reminded, naturally, of the year 2000, and all the SuperBowl ads for dot-com companies that would be bankrupt within a year. It’s the same now. Today is supposed to be the “crypto bowl“, with all the fat-with-cash worthless firms pushing their crap on people, and I suspect most of them will be destroyed in due time. As I look at the alt-coin charts, all I can say is………….this entire space is going to be battered for a long time.
(more…)Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Crypto Stock Gaps
Crypto Update
I’ve mentioned a few times about “Bitcoin at about 40k” and “Ethereum at about 3k” with respect to the so-called Animal Spirits exhausting themselves and reversing. Well, Bitcoin has exceeded this figure significantly enough to dispatch with the entire motion of a head and shoulders reversal. I still think it’s in a bear market (the downtrend has been in place for months, and the lower lows/lower highs is absolutely in place), but a hearty reversal around $40k simply isn’t going to take place.
Crypto Matters
At the risk of repeating myself (which, c’mon, isn’t a risk) I’ll say once again to respect crypto and heed its warnings. The softening beginning here will NOT be confined to Bitcoin.
Forty, ‘Kay?
I want to re-emphasize that $40,000 is a very important resistance level for Bitcoin (and, in turn, just about all other assets, from stocks to oil to kitty litter). This is the “animal spirits” at work, and we are very, very close to that level now.
