The crypto industry has matured

There was a little bit of good news yesterday, as we saw Bitcoin climb to $30k. It is some relief after weeks of dumping and blood on the streets of crypto land.

Even more refreshing was the fact that we saw Hive climb above 30 cents for the first time in a couple of weeks, marking an end to sup 30 cents suffering. At the time of writing, Coingecko is reporting that Hive is trading at 32 cents while you can sell Hive at a fraction lower than 32 cents on Binance.

Fair to say that this "pump" doesn't exactly represent much in the grand scheme of things. However, it is a sign of things to come in the much distant future.

I don't think we're out of the gutters yet and while I'd love it, there's very little chance of an actual bull run. The best we can hope for is an end to the hostility and a period of relative calm in the crypto market.

The chances of calm are very low right now. The SEC, Feds and other regulatory bodies are probably moving in the background to stir another shit storm that will bring down the mood in the market.

More than numbers

The crypto industry is worth more than numbers on the screen but until people realise this fact, we will continue experiencing these waves of emotions. People need to understand that cryptocurrencies and blockchains as a whole, exist to solve problems in society.

The prevalent notion is that cryptocurrencies are all about trading and about chasing the next pump. Perhaps the fact that all people ever talk about in mainstream social media is Ponzi-esque schemes like Pepe might be a contributing factor but for the purist at heart, it is deeper.

For many, cryptocurrencies represent freedom from the shackles of traditional media, financial institutions and the ability to take control of their finances. Crypto is a censorship-resistant frontier for the masses to express themselves and the numbers on the screen can never take this away.

The numbers on the screen ca affect the mood and yes, it sucks to watch your portfolio drown but that's irrelevant to the fact that crypto solves problems. For as long as crypto continues to solve problems, it is not going to disappear in the way that detractors have predicted whenever there's a slump.

If anything, the years of dumping as a result of a series of dips due to numerous cataclysmic events have made the market sturdier. When things were good, it is easy to be hopeful but in these perilous times, it is quite evident that the crypto industry has matured and at some point, the market will catch up with this fact.

Posted Using LeoFinance Alpha