There is a ton of Bullish news, from ICE’s Bakkt, to Coinbase updates, to news about Coinbase, Stellar, and Facebook, to Volkswagen’s Blockchain project, to IBM’s blockchain projects, etc. Yet prices of most cryptos are the worst in 2018 so far.
It is an odd mix. On one hand you have the most gnarly part of a market cycle demolishing bag holders’ blockfolios making them regret the day they learned about blockchain, and on the other hand you have a wave of new crypto related projects and many of the world’s biggest companies embracing not just blockchain but cryptocurrency and all the other tech behind it.
This shows the power of market cycles, and shows how a bear market can override even the best news, but it also bodes well for the future.
If and when crypto can stop bleeding out, we will find ourselves in a world full of buying Bitcoin with a click in your stock portfolio, making payments via a text message, having blockchain in our cars and on our social media platforms, and maybe even using crypto for payments in the every day.
We are in this strange dark place where the here and now looks grim, but the future looks bright. Does this mean the bottom is near? Wouldn’t we all love to know, as I’m sure that information would benefit everyone from bag holders, to bears, to new adopters. But alas, knowing that part is impossible.