16th July 2018
Bitcoin ended last night and the weekly candle for the Seventh Week in a row in the red. Illustrating a Bearish or a down period again. This comes to mind a 2013-2015 period of darkness in CryptoCurrency. But what has changed since then? Adoption and awareness.
More and more of the world are using bitcoin as both a store of value (investment) and a transaction source. If you compare the average persons google history: more and more individuals are looking into Bitcoin as the Modern Day Gold. It’s also a Trend – Wouldn’t you rather say you have 1 bitcoin instead of 1 bad of gold. Recently, it was found in America that Russians hacked the DNC and paid in Bitcoins.
Any TV Show you have been watching recently would have showcased them doing something illegal and then paying in Bitcoins. For one, this negative stigma and connotation of bitcoin has to go. Secondly, it is showing that Bitcoin is a mean of transferring between two parties if you discount the situation.
The Media day by day are discussing Bitcoin and Cryptocurrencies as well.
Take a look at Blackrock and their 6Trn under management, they have created a team to look into Cryptocurrencies.
This coupled with the approval of an ETF by the SEC would trigger an unimaginable amount of money flooding Cryptocurrencies.
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