When Your Bitcoin Miner Drops 80%
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 Carnage
Last night, Ethereum ($ETH) got literally to the PENNY of its major support level and managed to rally to a smaller loss, thus avoiding a failure. I believe crypto is still very important tow watch as a signal for equities to (finally) weaken again. We haven’t looked at crypto in a long time, but look at the seven alt-coin charts below to get a sense as to the overall degradation in this space:
Listen to Ether
Looks like the Jim Cramers and Cathie Woods of the world are getting a much-needed break. Uh-huh. I suggest you pay attention to what’s going on with Ethereum. It is still weak, and if it starts seriously cutting loose to the downside, I think you’re going to see stocks do the same.
For obvious reasons, my enthusiasm about energy-related shorts has cooled substantially. I’ve got an important update for Gold and Platinum members in this post about the market in general.
DoomCoin
Remember the marvelously-named Glauber Contessoto? Of course you don’t. But you may recall him by his more famous moniker, the Dogecoin Millionaire.
Watch the Animal Spirits
I’ve mentioned this frequently, particularly on my tastytrade show, but I want to stress again my theory that cryptocurrency markets – – particularly the big boys Ethereum and Bitcoin – – are going to be very vital in monitoring how this equity bear market unfolds. Indeed, it’s pretty much the only useful mechanism during the weekend for gauging market psychology when the stock bourses are otherwise shuttered.
Here, as of Monday morning, is Ethereum. Take careful note of how feeble its recovery from the Terraluna disaster was, and more importantly, how spectacular its topping pattern is. We’re talking Game Over level charts here, people.
