Bitcoin Below $90K and a Kraken IPO? Seriously?

Alright, so Bitcoin dips below 90K. Big whoop. Wake me up when it hits zero. Honestly, the rollercoaster is getting old. You'd think people would learn after, oh, I don't know, the last ten times this happened. But no, gotta panic sell and then cry about it later. Sheep.

IPO Dreams and Delusions

Kraken, meanwhile, is "confidentially" filing for an IPO. Confidential my ass. If it's confidential, how the hell do we know about it? Oh, right, because nothing stays secret in this town. It's all about drumming up hype, playing the "exclusive" card. Give me a break.

An IPO? Seriously? After all the crypto winter carnage? After FTX went belly up and dragged half the industry down with it? They expect us to believe this nonsense, and honestly...

It's like watching a clown car pull up to a funeral. Wrong time, wrong place, wrong everything. What are they even thinking? That the market is suddenly going to be all sunshine and rainbows?

And let's be real, who is actually clamoring for Kraken stock? The same people who bought beanie babies in 1999? I mean, maybe there are some true believers out there, the die-hard crypto bros who think this is "the future of finance" and all that jazz. But those guys are already balls-deep in crypto. They ain't got any cash left for an IPO.

Speaking of analysts, I saw some talking head, Owen Lau from Clear Street, flapping his gums about Bullish’s stock after their Q3 earnings. Who cares? Seriously. It’s just noise. All these analysts do is regurgitate the same talking points the companies feed them. It's a circle jerk of self-congratulation.

The Inevitable Crash (Maybe)

Look, I'm not saying crypto is dead. It might bounce back. It might even hit new highs. Who knows? Trying to predict this stuff is like trying to herd cats on a greased trampoline. But this IPO? This feels like a desperate cash grab. Like they're trying to squeeze every last drop of juice out of a lemon that's already been squeezed dry.

The real question is, who's going to be left holding the bag when this thing inevitably crashes? Because it will crash. It always does. It's the nature of the beast. The only question is how big the explosion will be this time. And how many innocent bystanders will get caught in the crossfire.

Then again, maybe I'm the crazy one here. Maybe Kraken is the next Amazon. Maybe crypto is going to take over the world. Maybe pigs will fly offcourse. But I doubt it. I really, really doubt it.

This Smells Like Desperation

Kraken's IPO? Bitcoin's dip? It's all just background noise. The real story is the slow, agonizing death of the crypto dream. And honestly, I'm not even a little bit sad about it.