Bitcoin breaks 50K again.
"It took a while to get me here, so I'm going to take my time."
Gwen Stefani.
We've all been here before. Bulls and bears, rises and dips.
This one is different. These are deep pockets that won't panic as easily.
What we saw in other bull markets was massive hype built on nothing. People jumping in to get rich as the green candles kept coming.
A lot of those people were betting their wages and small savings on the price rising so when we hit a few big bumps they started to panic and sell.
Then as the markets turned even more panicked and sold compounding the downturns.
Retail investment hits different.
"As more leading institutions launch bitcoin ETFs and other bitcoin-based financial products, the resulting upward price moves will also drive more direct investments in bitcoin from mainstream investors," Alex Adelman of bitcoin rewards platform Lolli told TheStreetCrypto in a recent interview. "There are only 21 million bitcoin that will ever exist; bitcoin’s fixed supply means surging supply will keep driving its price up."
The street.
According to coindesk the top three ETF's hold almost 700,000 Bitcoin with huge money coming in from investors every day to get a share.
That's over 3% of the total supply taken up from just one month of activity. This is always going to have an effect on the price and these are funds that are not afraid of a few dips.
They wouldn't have gotten involved in Bitcoin if they didn't see money to be made and a long term future.
As Aggroed said,
There are still plenty ups and downs left in the game but I think the buying pressure out there now will soak up any dips down to 30K and swallow them right back up.
Where there used to be fear these big investors will see opportunity.
Altcoins aren't bitcoin.
As much as we want to see the crazy alt markets of 2019 I don't think that we will.
These funds have no interest in shitcoins. The people who made their bags in the last bullruns have been shaken out of bitcoin by now and a lot of that money has been diluted down over the years across all of the different coins.
There is still money in the system but i think that the next wave of successful altcoins will be built on solid principles. Business principles, revenue generating systems and visible founders.
Too many people have been stung by anon devs and future promises to quickly put more money into the void. What we had before was gambling. Now i want to see if we can build revenue streams and solid products.
Hive is well positioned for this future.
We all know that hive is off the radar. The token isn't worth a huge amount and the community is overlooked but we are doing it differently.
We know who is here building.
We have people on the streets spreading the word.
We have classes teaching people how to get involved.
We have apps with revenue and plans.
We have some of the best tech out there.
We have connections built over years.
It all depends if we can get it right or not.
Stop looking at the reward pool and start bringing in money and users from the outside.
Every app should be planning on their next 1000 users.
Their next 1000 dollars and build from there.
The more success that we can achieve for any project on Hive. The more success that we will all have.
We can see where the games might have an effect and hope to see even more in the near future. See below.
Moonkarts- Go-cart game on Hive.
Other than that there will always be some outliers and the market will get a boost from the success of bitcoin but I think that most of it will stay in the top few tokens and the more legitimate projects out there.