I’ve been waiting for the past few days since the recent `G20 summit` to learn what would the impact of this event have on the cryptocurrency market and I must admit that I didn’t expect it to end up this way at all!
So what happened exactly? Pretty much nothing. I was hoping that all the power nations would find a common ground to regulate this market but that did not happen. Instead, the entire process of implementing regulations has been simply postponed.
Investors first reactions were very hurray-optimistic. We’ve seen what happened right after the summit ended. Prices of pretty much all cryptos skyrocketed right away, but unfortunately only to drop a moment later.
I’ve been monitoring social media, reading comments and watching youtube influencers just to get a bigger picture and understanding of what the general population seem to believe. And it seems that the overall “bullish mood” came back quite strong. I kind of understand that optimism.
Regulators decided to step back` and also claimed that cryptocurrency isn’t currently a threat to the financial sector. Which is great. There will definitely be less negative news, less FUD, and overall less panic sell. So one would think that the only direction for the market to go is “up”. Right to the so called “moon”. Don’t you think?
However, what most people seem to miss is the fact that we will go through it all over again very soon. `July this year.` So we have few months – which is a lot within the cryptospace. The only question is: will smart money (the one that waited for any sort of regulations) decide to return to the cryptomarket for those few months? Or will it not? Without them it’s not gonna be easy.
We are also witnessing the beginning of a trade war between the USA and China. Apparently FIAT liquidity is lower than ever. I realized that many investors seem to believe that Bitcoin will be a “safe heaven” if the trade war would escalate.
Previously @positivesynergy wrote:
“I think with regards to “regulation” it would be best to step back and really put the whole picture into perspective. After all we’re really talking about a major revolution to the current monetary system, which has been in a slow death for some time now, and crypto holds the potential to save the world from imminent crash of the old system.”
I couldn’t agree more. Im also quite relieved that goverments decided to take more time to regulate this market.
In my previous thread, many replied about their views on G20 summit. Im very curious of your current opinion. Please if you follow me then leave a comment and share your thoughts. `I read and reply to each and every comment.`
Let me summarize G20 meeting with those words:
“They are just beginning to get a grasp of the full picture of what this new revolution is.” (@positivesynergy).