The market capitalization, in a display of synchronized dissatisfaction, has also decided to take a backwards stroll, tumbling from $3.7 trillion to a mere $3.2 trillion. It’s a dramatic drop, although thankfully, it hasn’t yet formed its own independent nation-state. Yet.
Quite possibly, old sport! The upgrade lands on December 3, and if history’s anything to go by (58% rally post-Pectra, no less), we might be in for a jolly good show. 🎉
XWIN Research Japan, that paragon of financial foresight, claims Bitcoin might soon rise from its slumber. They cite a curious phenomenon: stablecoin reserves are growing faster than a squirrel hoarding acorns. 🐿️📈
For ages, this Bitcoin price was bouncing around inside a little channel, as happy as a clam. But then, SNAP! The channel broke. A clever chap called Ali Martinez – sounds like a magician, doesn’t it? – pointed out that this breakage means the jig is up. It’s all gone horribly wrong! From nicely neutral, it’s become decidedly… grumpy. Bearish, they call it. Sounds beastly, doesn’t it?
In the latest exhibition of discourse on the stage of social media, Mr. Saylor, with a twinkle in his eye, did converse with Mr. Cardone-a gentleman of notable achievements in both property and the evangelization of Bitcoin. The chairman assured all bearers of good manners and understanding that Bitcoin has, quite resolutely, steadied itself and is thus prepared for an ascent. He professed, with a flourish, that “most of the liquidation selling has discreetly exited the system,” leaving behind only the echoes of its tumultuous passing.
Amanda Fischer, former right-hand to SEC’s Gary Gensler, basically said Uniswap’s decentralization was about as real as a gluten-free donut. 🍩 According to her, they only cared about it when it kept the lawyers at bay. Now that the heat’s off, it’s like, “Decentralization? Never heard of her.” 🤷♀️
Unless this relentless selling abates – and one always questions the nature of such abatement – Bitcoin risks a plunge towards the ignominious depths of $94,000. A return to $99,000? A pleasant fantasy, perhaps, but only if a new wave of demand washes over the market. A demand, I might add, suspiciously absent at present.
So, instead of obsessing over price charts like my ex with her horoscope, we’re looking at user activity. You know, the stuff that actually matters. Unique wallets, seven days, no fluff. Turns out, it’s the best way to see who’s winning and who’s just pretending. 🕵️♂️
One in three developers straddles multiple chains, a circus act of hedging bets. Wrapped tokens? More like wrapped in red tape, hopping chains like fugitives with forged passports. The bottleneck? It’s not the technology-it’s the ego of each chain, insisting it’s the chosen one. 🙄
The mechanism, naturally, is complex. Taproot Assets, a construct of dubious spiritual weight, facilitating exchanges between Bitcoin and those flimsy stablecoins… it’s all rather exhausting, isn’t it? They speak of automating liquidity management, of treasuries generating revenue without the vulgarity of lending or staking. It’s a system built on shadows and algorithms, a desperate attempt to wring blood from a stone. The very air around it crackles with the scent of… well, let’s call it hope. Foolish, fragile hope. bitcoin
