There are much easier ways to make money in crypto, and certainly much safer ones than Ripple is currently offering.

Ripple struggled again on Tuesday, losing over 4%. At this point, Ripple is threatening the $0.33 level, and it looks likely to break down to test the $0.30 level in the next couple of sessions. Ripple continues to struggle right along with the rest of crypto, which is currently in a huge state of disaster. After all, there have been a lot of questions about fraud and viability, so money in general has run away from crypto over these last several months.

When you look at the crypto market, it’s clear to see that we are heading into a situation much like 1999 for technology stocks. We are about to see a lot of coins and markets disappear, but that is not necessarily a bad thing. After all, the quicker we get through getting rid of unprofitable ventures, the quicker we are going to see some type of massive bullish run, not only for pricing in the markets but for the use case scenario.

Ripple is a bit of an outlier in the sense that there are banks that use it for cross-border transactions already. However, it should also be noted that the SEC is still currently fighting Ripple in the courts, trying to determine whether it is a security or not. That being said, if the SEC ends up winning the court case, the CEO of Ripple has suggested that they would leave and abandon the United States altogether. In other words, it would be a banking token that is ignoring the most profitable and lucrative economy in the world. That is not a bullish argument, although it does not necessarily mean that Ripple has to completely disappear either.

With a backdrop like that, if Ripple starts to rally, you can guarantee that quite a bit of other markets is doing the same. This is because not only does Ripple suffer at the hands of risk appetite like the rest of crypto, it is also one that has that specter of a lawsuit hanging over it. Nonetheless, the market could really take off to the upside if and when it gets a decision, assuming that it is not fatal doing business in the United States. There are much easier ways to make money in crypto, and certainly much safer ones than Ripple is currently offering.

EOS has broken down below the $1.00 level, and it does suggest that the market is ready to go much lower. At this point, crypto is dead money, and smaller crypto markets such as EOS is going to continue to fall drastically. In fact, it’s likely that you are going to be better served by shorting this market than anything along the lines of buying it. In fact, I may start doing that myself.

I believe at this point it’s very likely that EOS may go to zero, or at least make a serious attempt at doing just that. After all, Bitcoin is struggling, so its difficult to imagine some of these other markets doing much. The question now is whether or not it can survive long enough to see the next “pump higher” of the crypto world. I would not be surprised at all if EOS doesn’t exist in three years. However, anything is possible so if we do sit still long enough, it might be a great “altcoin” to start accumulating at ridiculously low levels.

The EOS market has been drifting lower for several months, now that we have broken out of this previous rectangle that I’ve drawn on the chart, it’s likely that we have much further to go based on technical analysis alone. Ultimately, this is a market that I think is probably going to target the $0.75 level, followed by the $0.50 level.

On the upside, if we broke above the $1.50 level, you might have a nice bounce in the making, but it will more likely than not offer liquidity for short-sellers to get involved again. In fact, I cannot remember the last time I heard something about EOS, let alone something good. These small markets are going to get annihilated as long as Bitcoin continues to drift lower and let’s not even get started with Ethereum. Both of those markets look like they are going to lose another 50% before it’s all said and done, and therefore the outlook for a lot of the smaller markets is going to be the same: it’s a matter of whether or not they can survive the next few years. Because of this, I will be punishing markets like this via offshore levered accounts and have no interest in buying.

The market is a disaster at this point, so there is no reason whatsoever to think it is going to change anytime soon.

The market in Stellar initially tried to rally but then rolled over to show signs of weakness. This market has been in an absolute selloff for several months, and it looks as if we are ready to go down to the $0.10 level. The $0.10 level is a large, round, psychologically significant figure, and the place where we bounced from previously.

As long as the crypto markets are soft, it is likely that stellar will get whacked as it is a small market, and one that could end up at zero given enough time. That is not necessarily my prediction, but clearly, it is possible based on what we have seen with risk appetite over the last several months. The $0.15 level has offered resistance recently and will be the short-term ceiling in the market at this point. The market is showing no signs of strength, and quite frankly no signs of hope.

As risk appetite gets eviscerated around the world, smaller crypto markets like this run the risk of going bust. Furthermore, this is starting to look a lot like 1999, when the dot com bubble burst. The markets saw several companies that had no real earnings go to zero and fall apart. I think we are on the precipice of that in the crypto markets as well, as a lot of fraud and lack of utility have been exposed.

If we break down below the $0.10 level, it is likely that we would go looking to reach the eight cents level, followed by the $0.05 level. If we break down below there, it could be thought of as a potential “lottery ticket” in case it picks back up, but more likely than not we will see the entire progress and ecosystem shut down. The market is a disaster at this point, so there is no reason whatsoever to think it is going to change anytime soon. At this point, you have to sell every rally as it occurs. If Bitcoin can start to rally for a few days in a row, then maybe Stellar will have a chance, but until then it is almost an impossibility to get bullish on this market. The momentum looks to be relentless, not only in Stellar, but anything else at this point.