Institutional money is coming into crypto and the institutions are generally bullish right now. How so? Pantera Capital’s biggest bet is on ICON. Just today Bank of America secured a patent for improving security on permissioned blockchains. Argentina is using Bitcoin for cross border payments. J.P Morgan is still working on their open source blockchain, Quorum, which is based off of Ethereum.
The problem is no new money is coming in from the retail investors. Without that new money, the market will be going sideways and alts will bleed taking Bitcoin down with it. Unlike stocks/forex, crypto is a global 24/7 running market and the average investor isn’t used to the volatility and may panic sell. Many people are selling their alts for btc/tether/fiat to either short or just exit the market completely.
Clear regulation is perhaps the only chance of giving retail investors that 100% confidence. Argentina was a step, but there needs to be a bigger catalyst. Perhaps when ETF’s or options are allowed which is imminent.
Another problem could be the recent FUD from today, where USA/Canada were cracking down hard on ICO’s. This is a good thing for sure in the long term but may cause some panic in the short term. Most ICO’s are located overseas where USA/Canada don’t have such jurisdictions so this is just another cycle.
The key thing is though, while all the bears are panic selling their precious btc, the institutions, the Rothschilds, the Rockefellers are all buying cheap btc. The crypto market is but a fraction of Forex/stocks and can be easily manipulated. There will be a time when not just CNBC is “shilling” crypto but, CNN, Fox, NPR, etc. And then comes the bull run. I hope you accumulated enough before then :)
P.s: It isn’t a loss until you sell.
Be fearful when others are greedy, be greedy when others are fearful.
Edit- Thank you for the upvotes!
