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A Crypto Hedge Fund Hitting $0 Is One Way You Know It’s “The Peak of the Great Super Cycle”

by Elliot Wave International

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

Now, another crypto investment is “biting the dust”.

This time – it’s Three Arrows Capital (3AC) – a crypto hedge fund that has gone from “$10 billion to zero”.

Here’s the July 12 address (Bloomberg):

Three Arrows co-founder reemerged with tweet accusing liquidators of ‘fishing’

The entire crypto market has fallen by more than $1 trillion since April.

Of course, Bitcoin is a huge part of the crypto world and its massive drop since its November 2021 high of $68,906 has contributed significantly to this drop in the overall cryptocurrency market.

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

And speaking of the highest bitcoin, November 2021 Elliott wave financial forecastThis monthly publication, which covers the major US financial markets, said this just five days before hitting the top:

Last month , Elliott wave financial forecast Listed some of the many bull market milestones that cryptocurrency speculators have produced over the course of 2021. This is the insane margin of the Grand Supercycle Summit. …

Therefore, the decline of Bitcoin and the internal meltdowns in the crypto world did not come as a surprise to us Elliott wave financial forecast Analysts.

The Elliott wave financial forecast He continued to provide updates on the world of cryptocurrency, including the February issue in which this chart and commentary was presented:

Squid, a cryptocurrency based on the TV show of the same name, was another noteworthy issue covered in the EWFF at the height of bitcoin, where it actually crashed. …and then climbed to November 6, and this updated chart shows what happened next; Another drop of 97%. But get this: The Squid Gamers are still bullish.

As of this writing on July 12, the Squid game crypto . is in circulation even less than in February.

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

The Elliott wave model provides a great guide.

If you want to know how Elliott Wave analysis can help you in the financial markets, read on The Elliott Wave Principle: The Key to Market Behaviorby Frost & Prechter.

Here’s a quote from the Wall Street classic:

Without Elliott, there seems to be an infinite number of market action possibilities. What the wave theory provides is a primary method Limit the possibilities and then The order of relative probabilities for potential future market paths. Elliott’s highly specific rules reduce the number of valid alternatives to a minimum.

There is no analytical method that can a guarantee A certain result in the financial markets but a given Elliott waves reflect the recurring patterns of investor psychologythe knowledge that these waves provide about the position of the market within the behavioral continuum is extensive and second to none.

You might be interested to know that you can access the online version of the book for Free Once you join Club EWI, the largest Elliott Wave education community in the world.

Club EWI membership is free and gives you access to a wealth of Elliott Wave investing and trading resources without any obligations.

Just follow the link to get started: The Elliott Wave Principle: The Key to Market BehaviorGet instant and free access.

This article was published by Elliott Wave International and was originally published with the headline Cryptography: Welcome to “Lunatic Fringe”. EWI is the world’s largest market forecasting company. Its staff of full-time analysts led by Certified Market Technician Robert Prechter provides 24-hour market analysis for institutional and private investors worldwide.

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