Just about everyone's feeling the recent crypto dip...
After an ATH of around $20,000, less than $7k for a Bitcoin sounds like a shit deal to many, and STEEM falling back to a $2 range doesn't sit well, either. I can only imagine what users who have only been on Steemit for a few months must think. After coming in and getting $14 per SBD, some of those newer users may be pretty scared, and feel like they've missed their seat on the rocket...
However, I wouldn't count your losses just yet. Recent news indicates you may want to make sure your space suit is in working condition, because another rocket may very well be fueling up, ready to take off at a moment's notice!
This could be the year cryptos shoot past the moon, so be ready to go when the launchpad operator starts his countdown. Get yourself a good seat on that rocket, and you'll be cruising around in your moon-lambo in no time! Allow me to explain why I believe we're due for another takeoff...
2017 was an amazing year for cryptocurrencies!
The U.S. Congress went so far as to call 2017 "the year of the cryptocurrency" in their 2018 joint economic report, dedicating an entire chapter to the subject of Blockchain technology and cryptocurrencies. They call for government agencies, lawmakers, and industry leaders to work together in an effort to better understand the benefits this new tech could provide not only the private sector, but also governments around the world.
A flood of money may be on its way into the markets...
The SEC is considering whether to allow NYSE Arca to list two BTC futures options after raising numerous concerns about them in January. This likely stems from a letter written by the CEO and COO of Cboe Global Markets, the first exchange to list bitcoin futures, encouraging them to allow the rule change. In that letter, they stated they understand the many concerns, but believe there are already methods of working through them, stating:
"Cboe encourages the Commission to approach Cryptocurrency ETPs [exchange-traded products] holistically and from the same perspective that it has historically approached commodity-related ETPs,"
"The Commission should not stand in the way of such ETPs coming to market"
"While Cboe shares many of the concerns raised in the Staff Letter, we believe that the vast majority of these concerns can be addressed within the existing framework for commodity-related funds related to valuation, liquidity, custody, arbitrage, and manipulation,"
I believe we definitely want that wall street money in our pool. I think that alone could provide the recovery we're all waiting patiently for, but that's not the only reason I think we're due for a come up...
The billionaires of today want to be the trillionaires of tomorrow...
After declaring he believed Bitcoin to be a bubble just a few months ago, billionaire George Soros has apparently given the green light to his families Hedge Fund, Soros Fund Management, to begin making cryptocurrency trades. Adam Fisher, who manages the fund, says he has yet to make any bets, but the news that billionaire hedge funds are going to start dipping their toes in our ocean could be another tremendous push in the right direction for the value of our beloved digital tokens.
They see incredibly volatility in crypto markets, and that understandably makes them very apprehensive. These people didn't get all that money by playing it fast and loose... However, we all know their greed will get the best of them eventually, and where there's volatility, there's money to made for those who know how to play the game.
So western governments, stock brokers, and billionaires are all coming around to the idea of cryptocurrencies.
Took em' long enough...
Those of us who have been around the crypto-sphere for a while are likely going to greatly benefit from the late-comers with deep pockets. When some of the richest people in the world start putting down large investments, FOMO is going to kick in the for rest of them, and then the real fun begins.
This is my personal opinion, and no part of this should be taken as investment advice. I'm not an expert on anything but being silly. If you've heard it once, you've heard it a million times:
Never invest more money than you are willing to lose!
Thanks for reading!
