At the end of a tough week for the cryptocurrency world which has seen the values of crypto plummet due to news of Twitter banning cryptocurrency and ICO ads, and the news that Litepay has folded, I feel it is time for us to stop studying charts all day long and actually focus on moving forward with mainstream adoption of cryptocurrency. We can all play our part in helping to achieve this by emailing, writing letters or going into stores in person, or using Twitter to ask our favourite stores and brands if they would consider accepting cryptocurrency as a payment method. The FUD attacks of late are coming thick and fast and the crypto world is in need of some good news. Something like Amazon announcing they are accepting Bitcoin and Litecoin would do wonders for the market and really stimulate some positive sentiment. We have to keep pushing this because as far as I can see, sitting watching charts all day only doing technical analysis is not helping cryptocurrency at all. Often it's just helping create more FUD as disappointed newbies believe the hype; get sucked in and badly burned. This can scare some off for life and is more potential investment lost as they all panic sell when the price movement didn't go the way they were expecting.
It certainly is a tough market. It may take two or three years from now before we begin to see the sort of crypto pandemonium we saw in December 2017 when Bitcoin reached an all time high but rest assured, we will get there. Cryptocurrency is here to stay but not all coins will succeed. Of the +1500 or so out there along with ICO's, many will simply fail and disappear. I think that's a good thing in the long run as a lot of them are scams; offer no usefulness and are often just rip offs of coins already out there. It's time to unite and get behind the coins that have been around years, offer real world usability and just need promoting to the masses. Litecoin for example is a great cryptocurrency as a payment solution worldwide. It's cheap, fast, secure and scalable. Already we are starting to see more and more merchants accepting Litecoin as a method of payment, particularly in places like Australia. It's in everyone's interest for crypto to succeed as we will be building a better world and a fairer financial system where governments listen to their people and can no longer inflate their currencies with endless money printing to fund illegal war's on a whim. We will be able to hold them to account. This is currently not the case in the UK, where the will of the people is ridden roughshod over in order to keep us tied to the European Union against our will, bleeding the country dry in the process and acting as a puppet master for Israel, pushing the anti-Russian agenda. No, crypto is the only way we can free ourselves from the icy grip of the globalist financial elite, because once they lose control of the money supply, that is when we can begin to loosen their grip and shake them off. Until then, we have a massive fight on our hands. They will continue to spread FUD so that people sell them their coin's at discounted prices, then they will buy up tons of them, let the price go up and dump them for a profit before spreading FUD in order to panic and crash the market again, repeating the cycle over and over again so that the rich get richer and the poor get poorer. That's why mainstream adoption is so important - because if all the crypto is in the hands of many, it cannot be manipulated like it currently is being. Only when your grandma is using Litecoin to buy her groceries will we know we've truly arrived, but before then there is a lot of work to do. You must play your part. It will be worth your while in the long run because your portfolio will be worth a ton more! Hang in there. 😉
Crypto will bounce soon. The bear market can't last forever!