Bitcoin, Regulation, Adoption and Moon

← back to the list


Bitcoin, Regulation, Adoption and Moon

Posted on August 3rd, 2018 in Bitcoin News,Blockchain News by Trassos Vidalous

 

As every major news site is now full of FUD - fear uncertainty and doubt - with headlines of broken expectancy and a grin look on market action. Well, hold tight bull brothers, we may have something to add about it.

It was pointed out on most articles this weekend how BTC price has been sinking and looking indecisive, that it lost 21% of its value since 8507usd on July 24th. Also, some saying it's now clear it is a consolidation year for most investors that were in prior to 2016.

Let’s get it clear, prior to that 21% fall, we had one month of bullish trend that resulted in around a 45% rise in price. Also, volume increased significantly since it's low on July 14th. If there are investors not considering such a move a correction, if they are really cashing out, this is a sign of capitulation and disbelief, that is, a classic sign of market reversal and Elliot Wave 2 of a new motive wave.

Besides, regulation has been seen as a major source of FOMO and FUD. At the time, ETF approval sentiment has been risen to a state of fill or kill, the feeling is that it may change everything. However, is it truth?

Let see what Vitalik have to say about it

And that is exactly the point. Adoption is the main gate to new money to jump in a meaningful way. Of course, everyone wants a Lambo, but organic growth is much more appreciated by markets and regulators alike. Further, the mere deliberation from SECs around the world about how to regulate such a market should be seen as institutional interest.

Finally, but not less important, investments on research and building of new infrastructure are a sign of long term expectation by itself.

In conclusion, bitcoin and related contracts may have retraced a little, yet we have plenty of reasons to see it more as an opportunity and retracement than the end of the world as we know it.