CryptoCurrency : It Feels Like The Market Has Now Been Squeezed to a Rational Residual?
Happy to see this latest round of SEC ETF rejections and “China Ban News” had limited effect on the price of BTC; which represents a stark contrast to the panicky, irrational behavior we’ve observed from the market over the past 7 months.
It’s feeling like a step towards post-capitulation, with a holder constituency that is not as fallible as the FOMO speculators who rapidly on-boarded in December.
That said, we might still be a tad good-news-immune as Bakkt’s initiative and Mastercard’s cryptocurrency settlement-process patent have seemingly had no impact on market sentiment.
On another note, it will be interesting to see how participation of “public” ICOs is going forward; the market is feeling saturated with theoretical “vapour” solutions to problems that don’t exist yet — what are we on, theoretical blockchain 4.0 now? Beyond that, the current bloody state of the alt-market has created a “ICO-like” opportunity for buying in to projects that are further along in development than their nascent ICO counterparts.
I think the pull-back from ICO hype for existing alt-coin projects has largely already occurred; hopefully moving forward the differentiation between market caps will be based on actual occurrences and not supposed future developments.
I don’t know about ya’ll but my appetite for new projects has declined, I’m really just waiting for the projects I’m invested in to move up the ranks over the coming years at this point; though I will obviously keep a keen eye on potential competitors.
What’s everyone else’s feeling? A real hodler constituency now? Hungry for new projects? Content to see the roadmaps of the existing projects play out? Don’t care about an ETF anymore?
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