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Four years ago, Ethereum was as hot as a pistol, and as it approached $5,000, speculation about how high it would go was running rampant, egged on by Raoul Pal who issued many long-dead predictions, including this item from March 2023 which declared ETH would reach $20,000 by March 2022 “at the latest.”

I won’t endeavor to figure out why an article from March 2023 was offering up such a prediction already one year expired, but crypto bros are weird, man.

In any case, it didn’t get to $20,000, or even $5,000, for that matter. On the contrary. years after the aforementioned bold prediction, ETH has been ambling around at about half of its peak value, even with the recent preposterous ascent in asset prices across the board.

The reason I bring up Ethereum at all is because I’ve been mentioning every couple of days the curious alignment I see between ETH and QQQ. Below we see Ethereum’s broken long-term trendline, and its bold attempt to reclaim that line (which yielded only a “kiss goodbye” at the underbelly of the same line).

Simultaneously, we see the Nasdaq 100 ETF likewise racing toward its own busted line.

It’ll come as a surprise to no one that my most fervent wish is for both of these suckers to pause mid-air, Wile E. Coyote style, and succumb to all the gravity beneath each of their lines.

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