Current State of Markets - March 31, 2018

As we are currently in another slump right now its best to consider that price or unit value does not affect technology. We are moving at a very fast pace right now with regards to developments in projects that is overtaking the price. In bear markets like these we should take note that there are tons and tons of forces that move the markets. It might be a bit more days before we see that bull market start back up again. Currently cryptos are still a bit pegged to Bitcoin but there are certain uncorrelated coins which are still moving positively in case of this bear market.

Whales are already in ever since and the latest "late" edition of the news just announced that Wall Street firm Jane Street Capital is trading crypto.

This edition of "The current state of markets" points and organizes several updates and pertinent events in the space but will not further venture into the nitty gritty details. Instead, feel free to tap into the links provided.


Regulation and Adoption

  1. Crypto Daddy Giancarlo with his CBOE mantle encourages the SEC to diversify into other crypto products and accept Bitcoin ETFs.

  2. Coinbase adds support for ERC-20 tokens. This paves the way for your favorite ETH tokens to be finally traded on coinbase. Remember last Senate hearing suggests that only coins trading in coinbase particlularly LTC, BTC, BCH and ETH are deemed as crypto assets.

  3. The British and US governments are open to and urging positive and fair regulation for cryptocurrencies.

  4. Bitstamp about to be sold to South Korean investors. If the Koreans pull this off it will be another great regulated fiat to crypto regulated gateway which might be expandable to Asia as well.

  5. FSB does not think cryptos at this current time can be a threat to global economy.


Technology

  1. Miners moving to safer ground and cheaper prices.

  2. Acceptance from a multitude of payment centers just keep on coming.

  3. Another new crypto exchange from a big name - Yahoo Japan


Binance again add more and more value to clients further cementing their place as the top exchange at this current point in time

  1. Wanchain (perhaps the most awaited) and several prominent cryptos got listed

  2. New logo - https://t.co/enuq2U7WSZ

  3. Malta Opens Its Doors to Binance and bids to become a blockchain island.


Social Media

  1. Following the events of the Facebook ban on Cryptocurrency related ads a few months ago, FB now faces the Cambridge Analytica data breach along with several other lawsuits that come along with it. and even login compensation for those who were affected by the breach.

  2. CEO of Twitter deems BTC as the world universal currency in the next years to come.


It would also be a notable fact to remind that one very big player, Goldman Sachs who has been bullish on crypto planned to release a trade desk on Q2-Q3 of 2018. That was Dec 2017 news and was refuted last January by Blankfein because as a matter of fact, they already invested in one, Circle, ever since 2015. Early on this year Circle acquired Poloniex. Also, Airswap, Kyber and other decentralized platforms plan on releasing their products by this year. We will be seeing a lot more crypto adoption within the year both from centralized and decentralized aspects.

Overall, as a personal opinion, this price pull down is perfectly timed with the current global market slump. This might be the last chance for whales to dip the markets, buy at lowest prices and create an entry point for the rest of wall street and other big entities before we recover at another fast pace and hit that 1 trillion dollar MCAP. More people are losing interest for traditional investments and are losing respect on traditional currencies and finance.

Also, the petro-Yuan might be destined in a way to supplant the petro-Dollar. This would mean that oil importing nations will have a choice and that it can no longer need USD if it chooses to. This will lead to less demand for USD in treasuries and of course the worsening of the dollar crisis. Usually, in times of these crises which were evident in the past, the US government band aid mitigation usually is the implementation of higher interest rates which will ultimately lead to higher inflation. As prices go higher, sovereign and private debt also increases and forms another crisis which will further help in the overall USD decline.

There will come a time where people will need a risk parity fund and cryptocurrencies constitute a great part of that diversification process.