Alright, November was a certified dumpster fire for Bitcoin. Down 20%? Two *trillion* in market cap gone? Sounds about right for crypto, honestly. You'd think we'd all be used to this rollercoaster by now, but nope, every dip feels like the end of the world. Again.
"Experts" Say Slump is "Good"—I Call BS
The "Experts" Weigh In (And I Roll My Eyes)
So, naturally, the "experts" are out in full force, trying to spin this as a positive. I saw one quote about how this slump could be "positive" because "institutions finally came in a meaningful way." Oh, give me a break. That's like saying getting punched in the face is good for you because it builds character. Yeah, maybe. But I'd rather skip the punch, thanks.
Deutsche Bank chimed in too, saying this crash was different because it involved "substantial institutional participation, policy developments, and global macro trends." Translation: The big boys are playing now, so when they screw up, it's a *bigger* screw-up. Great. Just great.
Seventeen percent of the Bitcoin supply is supposedly owned by governments and companies now. Cool. So, what? Does that make it more stable? More trustworthy? Nope. It just means there are more giant entities that can manipulate the market to their advantage. And offcourse, they'll tell you it's for the good of the "long-term health" of crypto. Yeah, right.
Speaking of companies, I'm still scratching my head over this whole "Bitcoin treasury" thing. Michael Saylor convinced a bunch of companies to throw their cash into BTC, and now everyone's trying to copy him? It's like lemmings jumping off a cliff, except instead of lemmings, it's corporations with shareholders' money.
Stablecoins: "Stable" Like a One-Legged Table?
Stablecoins: Stable in Name Only?
And don't even get me started on stablecoins. The whole point is that they're *stable*, right? But the market cap dropped by $2 billion in November. Two *billion*! That's not exactly confidence-inspiring. Apparently, concerns about their stability and "increased regulatory oversight" are cooling enthusiasm. Well, duh. According to
Bitcoin price down 20%, stablecoin market cap down $2B: November in charts, November was a difficult month for Bitcoin.
Remember TerraUSD (UST)? That algorithmic stablecoin that imploded spectacularly? Good times. It was supposed to be pegged to the dollar, but it went belly up, dragging LUNA down with it. Now everyone's all nervous about Tether (USDT), even though they claim to have reserves backing it. I'll believe it when I see it.
The article mentions that UST's stability depended on the demand for UST, which was driven by the ~20% yield offered by the Anchor protocol. Seriously? A 20% yield? That's not an investment strategy; that's a Ponzi scheme with extra steps.
Crypto Taxes: Death by a Thousand Cuts?
The Taxman Always Gets His Cut
Oh, and guess what? Governments around the world are figuring out how to tax crypto. Seven countries are changing their crypto tax policies. Spain wants to raise the top tax rate to 47%! Forty-seven percent! That's insane. The US is considering joining some global framework to track foreign crypto accounts. Because of course they are. They expect us to believe this nonsense, and honestly...
I'm just waiting for the day when crypto is so heavily regulated and taxed that it becomes indistinguishable from the traditional financial system. Which, let's be real, is probably the point.
Seventeen members of the G20 saw inflation slow down in November. That's... good? I guess? But what does it even mean for crypto? Countries with high inflation are supposedly adopting crypto, particularly stablecoins. Bolivia is even letting banks offer crypto custody. But will it actually help? Or will it just create new problems?
So, What's the Real Story?
Look, I'm not saying Bitcoin is going to zero. Maybe it'll bounce back. Maybe it'll hit a million dollars someday. But I'm also not saying you should blindly "buy the dip" just because some hedge fund manager on CNBC told you to. Do your own research. Understand the risks. And for God's sake, don't put your life savings into something you don't understand. Because when the next crash comes – and trust me, it *will* come – you'll be the one left holding the bag.
