11 Signs that everything is going to be ok.
1. Singapore just announced it has no intention of making crypto illegal.
2. The market is still 3x what it was 6 months ago
3. Australia's big 4 banks have no intention of barring people from buying crypto.
4. Banks are starting to use crypto for cross border payments.
5. The stock markets are down $1 trillion this week, crypto markets are doing better.
6. Bitcoin ATM installations are on the rise.
7. Singapore airlines wants to use block chain tech for it's loyalty program
8. Europe’s Largest Utilities company is ready and willing to Sell Renewable Energy to Cryptocurrency Miners.
9. Bittrex about to reopen user sign ups and add USD trading option.
10. CFCT chair declares that the aim is to protect the consumer with a "Do no Harm" approach to regulation.
11. Everything is on sale
What the news says and what the news means can be 2 completely different things.
While many people may feel that they got burnt buying bitcoin in December, the reality is that this is still a normal correction. No one wants to ban crypto, Tier 1 Countries have no desire to ban crypto, the world is still preparing for mass adoption, banks are not preventing people from buying crypto, big institutions are using crypto daily, the SEC aim to protect consumers against fraud in crypto and the crypto market is still larger than what it was 6 months ago.
What does all this mean?
A lot of the news in recent times have painted a rather grim picture of the crypto space - there's a lot of FUD (fear uncertainty and doubt) mixed in with fake news and rumours that fuel negative sentiment.
Take everything into consideration from a holistic point of view rather than focussing on the scary bits.
The one bit of news that needs clarity is the fear that banks are helping to 'ban' crypto by preventing people from buying crypto - this is simply not true.
Banks are stopping people from buying crypto using credit cards because frankly, it doesn't make sense that people use credit to buy other money. The banks also need to mitigate credit risk and fraud by taking this stance.
Compliments of (Paul De Sousa Ari Maccabi)
