It seems that the month of September has provided us with a crazy amount of bullish crypto news. But we still have no take off in prices… still no moon as they say. Great news is repeatedly washing our shores and we are ripe for a reversal so what’s the deal? Why aren’t we travelling to the promised land?
Positive crypto news for the month of September
Here’s a brief run down of the positive crypto news, developments and shout outs that have landed recently:
- Gemini Launches Stablecoin
- BitGo Custody gets Approval for US Institutional Investors for Bitcoin, Ethereum, XRP & 72 other Cryptos
- The EU Commission recognizes cryptocurrencies as an asset class
- IBM Launches Cross-Border Payment System Using Stellar
- Australia’s newly-elected Prime Minister Scott Morrison pushes his agenda of backing blockchain technology
- Nasdaq starts to develop cryptocurrency analysis tools
- Coinbase exploring Bitcoin ETF with Blackrock
- Gibraltar starts to dive into Crypto
- And perhaps the most notable of all, American rapper Royce Da 5’9′ saying, “Remember everybody used to bite Nickel, now everybody doing bitcoin’
Which leads onto, when lift off?
Crypto bear markets are nothing new. We have seen 80% retracements before and always had a strong rebound to higher highs. Positive news, after a long bear period, normally initiates that glorious burn that propels us Northwards. This time we haven’t seen that. We seem to be generally simmering especially where Bitcoin is concerned.
For me, Bitcoin will be the first one to bolt from the stable door and climb upwards. Alts… that’s a whole other ball game! While blockchain is showing its worth in some industries, tokens have yet to convince in their ability to offer a range of real world applications. I’m not saying this won’t happen as we are certainly building better tech and better solutions. Tokens are like mobile phones in the 1980s clunky, unrefined and in need of time to mature to fulfil their potential.
That’s why I’m currently increasing my exposure to Bitcoin and decreasing it on alts; albeit still building a few strategic positions and a few cheeky punts. As every thing has its time in the sun and this time round it’ll be BTC, I’m in big on this one. Now, bed down for the long game and I’ll see you on the moon.
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