I’ve been pointing out recently how dead the entire crypto space has become. I can’t believe people even trading this passbook savings account anymore………

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I’ve been pointing out recently how dead the entire crypto space has become. I can’t believe people even trading this passbook savings account anymore………

There aren’t many statements you can make which have been true for the past thirty days, but here are three:
Good God, what boring markets these have become. No wonder everyone has lost interest in the world of crypto. It also explains why assets seem so “stuck” right now, since we can’t really get a fire under the bear market until crypto support totally fails.

The fakery has finally been exposed. The lies, the deceit, the arrogant disregard for decency, and all the other sociopathic madness the bulls have brought upon this world is finally being seen for what it truly is, and for what I have been preaching for lo these many years. $30 trillion of asset destruction later, it is pleasing to witness this gargantuan canard unravel, with the knowledge that countless more tens of trillions of destruction are forthcoming. It makes my heart sing.
There is one element left which requires demolition, and that is cryptocurrencies. Of all the nonsense promulgated over the past dozen years, surely this must stand up as the apotheosis of this age (if you can set aside the utterly grotesque Rebekkkkah Neumannnnnn and her WeWork scheme, in alliance with her bizarre spouse). Simply stated, Bitcoin and Ethereum MUST be destroyed in order for the full fury of the bear market to be utterly unleashed. If at any point you see them finally break support, it’s time to kick back, relax, and watch the show.
(more…)As I prepare to call it a night (and I’ve been deliberately avoiding looking at any futures quotes since today’s regular close), I’ll just say this: the crypto market is TEETERING right on the precipice, and it wants to fall. I can see it.
