Everybody and their mothers waited shivering the end of Consensus, the biggest crypto-related event of the year, with more than 8,500 attendants this year, because, as happened in the past, this was usually the beginning of a rally. Instead, we got a bit of a sell-off.
Thomas Lee, Fundstrat manager and a long time supporter of crypto, explains in this tweet why he thinks the rally didn't happen (yet).
For those not looking at the fine print: we need a more coherent regulatory framework around cryptos (especially a clearer definition of when and how cryptos can be securities) before institutional money - the biggest and most expected growth driver - will jump in the boat.
It's worth noting, though, that Lee is still optimistic about cryptos, overall.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
Wanna know when you're getting paid?
|
I know the feeling. That's why I created steem.supply, an easy to use and accurate tool for calculating your Steemit rewards |