Remember how I was all freaked out about cryptos breaking out and creating a new equity bull market? For the moment, that seems to have been beautifully aborted.
Now THAT is a Shooting Star, Baby
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.
Spythereum
As is my strange habit, no matter the time zone, I get up at 5 a.m. On the Pacific coast, that’s perfect. Here in EST-land, not so much. In any case, even during this absurd hour, let me share with you an insight. Below is the chart of Ethereum. We know all about crypto, right? Going to change the world with blockchain, smart contracts, and digital currency, yes? Not a chance. Crypto has become nothing more than a proxy for equity enthusiasm. It might as well be the SPY. Honestly. Crypto has almost NO purpose except to serve as just a different flavor of equity ETF, so it merits observation by stock people.
Another Crypto Victim
Up until November 2021, one of the hottest stocks around was Silvergate Capital (symbol SI). The quality of its pattern was so clean, I mentioned it a number of times both on Slope and on my tastytrade program.
Let Crypto Lead Us Lower
Bitcoin’s Small Wall (by Xerxes)
I know I’ve voiced my disdain for Bitcoin on a Fundamental level. This is neither here nor there, however, as I have been skeptical of this since it was valued at $200 per coin and I was obviously proven wrong (so far). Regardless, I’m a chartist at heart. Just pointing out what I see in the short term.
