I’ve been very watchful for the last few months, really concerned about us entering a drawn out period where adoption could be stagnant.
If we look back at previous bear markets in crypto, it generally lasts 1 ½ years to 3 years. This had me very concerned about deploying new money into the space.
The last six months has proved that most retail investors freak out once the market bloodbath starts. All that high-end pub talk about diamond hands diminishes, and I think this is where the whales rub their hands together and prepare to scoop up as the dead wood exits the market.
Why I am starting to get bullish.
When BlackRock come out and declared a deal with Coinbase.
This means that Coinbase is going to be acting as the on-ramp for BlackRock clients.
We now have the world’s largest, investment manager opening up its system to Coinbase to allow their institutional capital allocators to buy Bitcoin, yet the market didn’t really react to this news!
Are investors silently scooping up off the back of this news or was it already priced in? As in, did the institutions have inside knowledge of this? I don’t know the answer to that, but I’m excited.
Will they allow the purchase of Cardano or Ethereum next? We’ll see…
I will be keeping my posts short and sweet as I am not a Technical Analysis specialist and I am not a journalist. This is just a quick outlet for me to get my opinion of the crypto market out there for us to discuss.
#crypto #bitcoin #blockchain #investing #trading #news #money #markets #cryptocurrency #coinbase #blackrock
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