According to crypto.news, Ethereum has been in free fall since Oct. 28, dropping 29% (or 41% from its year-to-date high). 🚀✈️ Trading at $2,926 at press time, it’s managed a slight rebound-up 2% over the past day. Yay? 🥳 Or is this just the calm before the storm? 🌩️
Led by attorney Lee Wolosky (who’s probably earning his weight in gold right now), the victims and their families are pointing fingers at CZ and his crew, claiming they knew exactly what was going on. 🕵️♂️
Amidst the gloom, whispers of a bear market grow louder, and JPMorgan, that venerable institution of finance, is said to have bet against the very ship that now flounders. The crypto market, once a gilded age of prosperity, now resembles a desolate wasteland, with Bitcoin’s price a ghost of its former self, and the broader realm of digital currencies bleeding billions. 💸
Do you recall, in the halcyon days of 2021, when China’s government laid down its infamous edicts against Bitcoin trading and mining? The creativity of the market faltered, the Hasrate cried like a forlorn lover, and mining sought refuge in far-off lands. Let the annals of history remember: China was the belle of the Bitcoin ball before the ban, enviably courting the lion’s share of global mining efforts.
But apparently, there are people-professionals, even-who think it might bounce back. Like, maybe. The whole thing feels…optimistic. Which, as we know, is often a precursor to disappointment.
Hunter Horsley, CEO of Bitwise, announced with the solemnity of a Soviet bureaucrat that Matt Hougan, their CIO, had lectured over 2,000 bank advisors-men in pressed suits who, until yesterday, thought Bitcoin was a type of exotic coffee. Ah, progress! The bankers leaned in, ears perked like pigeons spotting breadcrumbs.
Things like DEX volume, daily users, and transaction counts weren’t just dipping; they were practically plunging through November. It was like watching someone try to skateboard on ice – inevitable and a tad bit tragic.
This Myriad, see, they’re claimin’ to be makin’ waves in this newfangled world of “prediction markets”. They say they’ve done surpassed $100 million in USDC tradin’ since they sprung into existence. Why, in just the last three months they claim to have grown tenfold! Tenfold, I tell ya! Makes a feller wonder what folks are bettin’ on – whether the price of hogs will rise, or if old man Hemlock’s mule will finally win a race.😜
The wise and the foolish alike anticipate that the Federal Reserve, babes in the woods about true economic stability, might cut rates by a humble 0.25%. The global liquidity-an ocean of money-rises like bread dough, making the masses believe that the tide may turn in favor of Bitcoin. Polymarket and Kalshi, those digital sages, have increased their bets, as if their fortunes depend on a tiny interest rate shift that might-or might not-happen next month.
From November 14 to 17, the Bitcoinist crew (yes, that’s us) braved the crypto circus, armed with microphones and a healthy dose of skepticism. 🎤🤡 We chatted with influencers, CEOs, and people who probably haven’t slept since 2021. 😴