The last few months crypto has honestly felt like it was in a slump. Not only was Bitcoin and Ethereum slowly falling even on news of ETF releases and other pro regulations for crypto but also just a sentiment of the crypto markets moving towards a bear market. Honestly that's where I thought we were headed with just how sluggish everything has been for the last few months even with major bullish news there was only negative price action which made you really question things.
A big part of me feels it's mainly because of a unknown and I think the events of the last few days support this. Markets hate uncertainty and with the USA elections coming up it was rather unknown as to who was going to win. Until that election was over I wasn't really expecting much price action either on the higher or lower side and instead we would just bear market for the next few months.
However with unfortunate recent events it seems like we got our answer. With the recent assassination attempt on former president Trump who is once again running we have seen a major increase uptick in the bullishness of crypto again.
This is mainly because polls and prediction markets showing trump at having a very high percent chance of winning the race and becoming president once again.
This to me makes it rather clear as day that if Biden runs and wins crypto will be under heavy regulatory and expressive war once again just like we have seen for the last four years. However if Trump makes it in the crypto markets would be much more favorable. And you can say whatever you want that I'm being biases or whatever but the numbers clearly show this being the reality of things.
Blockchain and Business
Now to me blockchain and crypto and clear instructions and law abiding rules do need to be in place but ones that are also pro development not overly complicated messes. This is because we are already seeing major business incorporate blockchain or some form of tokennomics into their business.
This is only going to continue to increase now and do so at a rapid pace. If you have confusing rules of where the SEC just comes after and issues fines and sues you your going to not to want to develop your business in the USA anymore and instead go to another country.
It's really as simple as that because blockchain and crypto are here and they are here to stay. If a business wants to be competitive in the landscape of today they need to start incorporating these technologies into their business.
The USA once stood for a place to come and grow or start your business. But if your constantly attacked and questioning how to report something and it's totally unclear it's most likely going to keep you from developing. I'll be straight up honest. The reason why I haven't launched my own token here on Hive is because I don't want to deal with the confusing BS and unknowns that are currently in place here in the USA. It would legit cost me more time and money trying to figure it out then launching the token would most likely ever make me and that kind of pisses me off and shows me how many other people are most likely in this same boat.
This stifles innovation in the country.
Ethereum ETFs Coming Sooner
Before we were thinking that Spot Ethereum ETFs would most likely be mid/end Aug. into September. However we are getting new news that we could now see them launched as soon as July 23 just 6 days away!
What has me more excited about Ethereum ETFs over Bitcoin ETFs is just how much application use Ethereum has compared to Bitcoin. I honest see bitcoin as more of a gold standard like fort knox while Ethereum is the gas or driving force in which applications would be built and run. Thus that means it touches way more digital assets then bitcoin ever would and opens up layer two tokens to have massive increased exposure to price actions which should trickle down into other assets even outside of Ethereum due to pairings and DEX.