Crypto Winter or Primed For Rally?

in LeoFinance2 months ago

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Crypto Winter or Primed Rally?

When it comes to cryptocurrency now I like pulling all of the details so I can find where we are going in terms of the crypto market.

The Negatives Effecting Crypto

There are a number of key factors currently holding back crypto in terms of news and events going on.

  1. China banning bitcoin miners and kicking them out of country.
    Crypto mining has been taken a hit but to be honest I believe it's more so in a positive light. Yes, lower amounts of mining means lower difficulty and in general a lower price from Bitcoin but I believe this is temporary and gives many of us the opportunity to mine a bit of bitcoin at a much lower rate till these larger companies move shop.

In fact the USA now accounts for 16% of the total bitcoin mining and this is expected to grow. The one negative however is there's really no "unused power" in the USA to support a large infrastructure of bitcoin mining.

  1. FED going after stablecoins
    Stable coins have come under increases pressure not only from the FED but also from the crypto community in general. Even though something like Tether is decentralized doesn't mean they should get away by not providing audit reports and keep everyone in the know. In fact as a centralized stablecoin it should be more transparent in my opinion. Perhaps Tether finally releasing their own audits here in a few months will start paving wave for that.

  2. Market cycles (crypto winter)
    Market cycles happen and with them comes a repetitive nature of crypto winters. We hit a rather massive and long rally this year compared to other years which seemed to be over bought when people started investing million into random meme and shit coins. At that point you know things are crazy and the market wont hold itself which is what happened. We now seem back to more solid ground and just being primed for the next rally.

The Positives Effecting Crypto

The above shows us why crypto has been flatlining as of the last few months. With uncertainty it makes for a bad investment as risks are higher. However as we start to figure these things out one of the largest areas poised for growth is DeFi and one such platform is CubDeFi

BTC is also still the primary focus but at some point I do firmly believe that Bitcoin will be replaced by another crypto perhaps Ethereum or one we have yet heard of. This is because of a self balancing act that will play out over time. Everyone uses bitcoin right now but in terms of tech bitcoin is a sad showing. The only real thing it currency has going for it is the majority of publicity it gets and that it's been battle testes as one of the most secure chains. However that all might change come November when Bitcoin is due of an upgrade which pretty much is going to reset the security of the chain (at least my opinion) From that point we might start seeing some new cryptos start taking the spotlight but it's going to take a long while (a few years)

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Impact of China Banning the crypto will have some more time to settle, but once that effect is settled down I expect a wider rally to come back. May be another year will go in the process but the rally will come for sure.

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Perhaps Tether finally releasing their own audits here in a few months will start paving wave for that.

I guess that's a good place to start, with time other's will follow. HBD i believe is on the path to being stable which might be a good thing on our path.

I think it's highly expected of ETH to get ahead of BTC in the future, when is what we don't know yet.

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I think one of the downsides happening is the stuff with Binance. It seems like they are getting hit with a ton of stuff from banks/governments. So if they start implementing regulations, I have a feeling it won't be a good thing for us since Binance is one of the biggest crypto exchanges. Even if I don't like Binance since it is centralized, I am still worried about it.

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Depends if Musk is gonna give the suggestion bit coin is good haha have a good one Sean