I think I have been away for too long. Not that anyone missed me a whole bunch but it's time for Crypto Fast 2.
This fast will take things to the end of 2018, which is by design. Nobody can argue that 2018 has been pretty dismal for cryptocurrencies, especially if you bought in January.
So my hope over these next 50 days is that we will see an end to this bear market and the start of a new bull market.
On the contrary, the bear market in stocks has begun! We are in Quad 4. For details about Quad 4 go to www.hedgeye.com
Will stocks and crypto prices have an inverse relationship? Just in case, I bought the SQQQ at $14 about a week ago. And although SQQQ is not a cryptocurrency, I will include it in my fast. As a result, I will not be checking the price for 50 days. Just in case you don't know, the SQQQ is an ETF that corresponds to 3X the daily inverse of the QQQ. In other words, it's like shorting the Nasdaq on steroids.
Just for time stamp purposes, the prices for BTC, ETH, LTC, Ox, BCH, and ETC as of 11/10/18 are as follows:
Looking forward to interacting with you over the next 50 days.
Let the fast begin!