Frederick Douglass famously advised, “Agitate! Agitate! Agitate!” I found the enthusiastic applause for positive Bitcoin outlooks quite disconcerting at the Naples Family Office Symposium on Nov. 6. Taking Mr. Douglass’s advice to heart, I reiterated my outlook for a potential 90% drawdown across the entire crypto space, including Bitcoin. The stock market must rise -- or else. It Was Different or It Wasn’t Different are possible titles for a book I hope to write someday about this period. My bias leans toward the latter. On the Bloomberg here: https://blinks.bloomberg.com/news/stories/t576tfgpwcgr {BI COMD{} #bitcoin #gold #stockmarket @BBGIntelligence(Mike McGlone)