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Cryptos: Welcome to the “Lunatic Fringe”

A crypto hedge fund going all the way down to $0 is one way you know it’s “a Grand Supercycle peak”

by Bob Stokes
Updated: July 14, 2022

The bankruptcy of crypto broker Voyager Digital has been widely reported.

Now, another crypto investment "bites the dust."

This time -- it's Three Arrows Capital (3AC) -- a crypto hedge fund which went from "$10 billion to zero."

Here's a July 12 headline (Bloomberg):

Three Arrows Co-Founder Re-Emerges With Tweet Accusing Liquidators of 'Baiting'

The entire crypto market is down by more than $1 trillion since April.

Of course, Bitcoin is a big part of the crypto universe and its big decline since its November 2021 high of $68,906 has contributed substantially to that drop in the overall crypto market.

Bitcoin dropped all the way to $17,614 just in June.

And, speaking of Bitcoin's top, our November 2021 Elliott Wave Financial Forecast said this just five days before that top was hit:

Last month, the Elliott Wave Financial Forecast listed some of the many bull market milestones produced by cryptocurrency bulls over the course of 2021. This is the lunatic fringe of a Grand Supercycle peak...

So, the decline of Bitcoin and the implosions in the world of crypto were not surprising to our Elliott Wave Financial Forecast analysts.

Our Elliott Wave Financial Forecast continued to provide updates on the world of crypto, including the February issue in which this chart and commentary were provided:

TokenLoss

The Squid Game, a crypto coin based on the TV show of the same name, was another noteworthy issue EWFF covered at bitcoin's peak, as it had already crashed... It then rallied to November 6, and this updated chart shows what happened after that; another 97% decline. But get this: The Squid Gamers are still bullish.

As of this writing on July 12, Squid Game crypto is trading even lower than it was in February.

The question now is: What's next for crypto investments?

Get ongoing coverage of the crypto world by following the link below.

Even If the Stock Market Gets Uglier … You Can Be "Sitting Pretty"

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Even Higher Inflation? Hmm … Maybe Not

Some observers say that high inflation will be with us for a considerable time longer. But the evidence suggests that this view might be off the mark. Here are some key insights.

Corn's Selloff to 3 Month Lows: An Opportunity Best Served Hot!

After corn futures plummeted, plenty of stories had reasons "why" corn declined. Now see the pattern we showed subscribers that anticipated the price move.

EXCLUSIVE

Cryptocurrencies: "Joined at the hip with the stock market"

The NASDAQ has just passed the 1-year bear market anniversary -- and so have cryptos, with Bitcoin leading the way down. Watch our Financial Forecast co-editor Pete Kendall explore this connection as he walks you through the charts of FTT, Bitcoin, Cronos and others.