Crypto-Crazed

By Tim Knight of Slope Of Hope

Monday, November 11, 2024 12:01 AM EST

For the first time ever, Bitcoin has pushed above the psychologically significant $80,000 level. You can expect a tidal wave of stories about this over the next twenty-four hours, because the media loves Big Round Numbers. It has pushed up about $14,000 just since Election Day!

Here’s a daily chart (as opposed to the minute bar, above, both of which are from SlopeCharts). New highs tend to beget new highs, so there’s no telling where it goes from here.

I don’t think IG’s “Weekend” market is a great proxy, but it’s better than nothing, and it sure seems equities seriously don’t care about any of this.

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I tilt to the bearish side. Slope of Hope is not, and has never been, a provider of investment advice. So I take absolutely no responsibility for the losses – – or any credit ...

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