Well peoples what a ride. So we are, without a doubt, in a massive bear market. And it is scaring the bejesus out of all the tourist. Tourist? Yeah tourist – those who caught the December 2017 cruise liner and thought “I can never lose with this puppy”. Sure there were so many people out there “selling the dream” about all the pluses about crypto, but no one really wanted to know about the hidden dangers when getting into a space that is the last “Wild West”.
If you take a look back at our previous blogs, you’ll see that we’ve talked about the dangers of crypto and not putting the whole “farm” on it. So here comes the usual disclaimer – this blog doesn’t contain any financial advice nor should it be used for that type of thing blah blah blah blah (we think you get what we’re trying to say).
However lets be honest for a moment, currently the market is down further than what others have thought. And from the looks of it, there will be small rises, however on the whole it’s pushing down. But this doesn’t really make sense. Let’s sit back while we talk this out for a moment: You have the world bank asking CBA (Commonwealth Bank of Australia) to be one of the first banks who issue bonds upon the “chain”; You now have the like of JP etc employing more process driven practices upon the chain; You have Malta who has a super crypto friendly government who is welcoming so many new firms each day to the place; you now have China who is looking at sticking the entire countries telecommunication upon a chain. So again, if crypto was so bad, then why are the big players around the world beginning to seriously adopt blockchain as a serious thing?
The problem here is, n00bs or as I like to refer to them as “tourist” have been caught up in the glam of bright lights and all the trimmings that go with it. As well when you look at crypto its market cap value as a whole is quite small and easy to manipulate. Let’s face it, if you had the backing from say a government and wanted to cause a lot of pain, then you could easy cause price drops – without a lot of resources needed.
Further to this and what scares us a bit here at ACL is the fact that there is so much hope placed on getting EFT’s over the line with SEC and when this didn’t happen everyone seem to lose the plot and go mental. Peoples have we not learnt anything. It has the smell of GFC coming from it.
Crypto is a child of the revolution. When you look at it, it came about because those at the start had become so pissed at the mainstream financial systems that they wanted/needed change. But are we now endanger of losing this as well. So we’re not telling you what to do, but come on think about it. Look at projects white papers; be open minded with all projects; and even if you’re a true believer don’t close the mind.
So will we see a massive December 2017 bull market again – pff we don’t know and if you are finding magic people out there who say they know….run the #$%^ away from them as quick as you can. But use your head and continue to develop critical thinking! Also become more aware with everyone day life – this will help in determining what will happen to crypto. Lastly, we recommend that you all continue to monitor the situation that is happening in Turkey. If they continue to lose super value with local Fiat currency, will crypto help them to stabilise things? Will this have an impact upon BTC price. Or will they create own cryptocurrency and make everyone switch to.