Hello friends,
I am doing good, and I hope that you are having a good time with your near and dear ones.
The good thing about the Crypto market is that it is unpredictable which I think is more of its plus instead of the negative side. A couple of weeks back we have seen that how the market was looking more filled with red color but now again the green color is back. the Bitcoin price has started going up and some of the experts are saying that it is the signal of the upcoming bull run but I believe we need to wait some more time unless the price goes beyond 40k USD. We all love the market in green colour only but this is not in our control. Whenever we get to see this color in the market it makes us feel better and also gives us the confidence that things are on the right track but it is a market that we cannot forget.
The correction is also required in the market to have some balance because it cannot keep on going upside all the time. If for any reason we see more bloodbaths in Bitcoin and altcoins price then also we can see some movement after a few days. I can say that green is my favorite color in this market and I never want to look at another color which is red only.
ETF is a Boost
We have seen some good updates in the last few days about the EFT and probably this is the good reason that is why we can see this. Some leading companies in the asset management industry have applied for the Bitcoin ETF and probably because of this region some people have tried to enter the market. I think it is too early to say about the outcome of the ETF application but people are speculating that we are going to have it approved by the Security and Exchange Commission. We also need to understand that if we can get more use cases for bitcoin and cryptocurrency in real life then the value is going to be higher. people often talk about the mass adoption in the Crypto market but it will happen only if a majority of people across the world use Bitcoin or any other cryptocurrency in their daily life. I mean to say if they can use Bitcoin for their investment needs as well as it can also be used for paying the charge for goods and services.
It will take a long for the Crypto to be considered as a legal tender in many countries and probably many might not adopt it. It's fine if some of the countries are not in favor of this because they are somehow scared about the replacement for their fiat currency. As long as the countries are fine to make Bitcoin or crypto a valuable and tradable asset the country should be good. There should also be the option to use the crypto for paying for goods and services so if someone likes then this option can be used but looks like the majority of countries are not in favor of this.
It can be a matter of time because we know that some leading payment companies including Visa and Mastercards are also exploring the possibility in the crypto market. more big companies coming into the Crypto market means we can see even higher prices for the Bitcoin in future so we can think about a bright future in this market known as cryptocurrency.
Thanks a lot.
Posted Using LeoFinance Alpha
