Hi crypto enthusiasts. Today is a good day for you. You’re all looking at your portfolios and seeing lots of green. As a result, you then rushed onto Google to search “crypto bull run” or “why is the crypto market so good right now?” Well sorry to be the bearer of bad news (no pun intended) but the crypto market is still bearish and here are a few reasons why.
THE CRYPTO MARKET IS BORING
That’s right. I said it. The crypto market is boring right now and anyone who disagrees is a liar. These aren’t the fast and high times of 2017. We are not on a rollercoaster of crazy highs and gut-wrenching lows. 2018 and 2019 have been pretty chill. We’ve seen prices drop to their lowest in years and besides that, not much more is happening. People are simply bored with crypto market now. They hype has died down. But don’t let that fool you. During this period of boredom, advancements are happening behind the scenes.
THE CRYPTO MARKET IS REALLY FINDING ITSELF
Much like a wild teenager who went through a crazy rebellious phase and is now calming down, the crypto market is finally starting to find itself. Prices may be low but 2018 saw huge technological advancements in crypto. Both companies and governments made moves to strengthen their crypto sectors. Furthermore, massive corporations on Wall Street started to dip their toes in the game and see what this blockchain technology is all about. These are all good things to look out for in the future, but we’re not out of the cold just yet.
THE CRYPTO MARKET IS STILL BEING CHALLENGED BY REGULATORS
Regulating authorities like AUSTRAC or the SEC are still on their “tour de force” of the crypto market. For many reasons unknown to us simple people, these organizations are taking their sweet time on giving the green light to crypto. It’s unlikely we’ll see any return to former glory until the crypto market becomes fully regulated.
THE CRYPTO MARKET IS BUILDING A TRUSTWORTHY IMAGE
The dirty ICO’s of the past are fading away. They do not have a place in this new industry. Instead, we have clean, transparent and innovative startups making their way in the industry. For example, we have a crypto lending platform YouHodler that will bring efficient, and accessible loans to the developing world. We also have full regulated exchanges like Nauticus building a financial ecosystem in Australia. These are just a few examples of notable startups to look out for. As the market continues to climb its way out of the crypto winter, it will be startups like these that lead the way.
Cryptocurrency is something imperative and necessary.