We have received many questions and it is time to take stock.
After a price correction of more than 50%, a shadow has settled on the cryptos in general. Everyone was talking only about that, it is the opposite that is happening now, and many are those who no longer dare to talk about it. Actors like John Oliver devoted an entire episode of HBO to parodying those who invested in Bitcoin...
Few people these days boast of being happy with the decision to invest in cryptocurrences (apart from those present for a long time). This is the kind of mood that is not conducive to a quick return of prices, we are aware of that.
With the sudden and enormous development of cryptos, societies and technologies, it was obvious that institutions and government would deal with things like regulation, transfers and security.
One of the biggest forces against rising prices in recent months is the issue of regulation and the perception that governments, from China to South Korea, were trying to prevent the public from buying cryptos. All this was only an impression of the investors, but it cooled them down enough to frighten many people.
It can be assumed that governments will permanently combat money laundering and related harmful activities. That will not change. But not all the news on this issue is bad.
Last week, for example, we learned that the Financial Stability Board was opposed to the G20 countries adopting global monetary rules. This good news, of course, has been largely ignored so far.
In the United States, the state of Wyoming, long a pro-business state, is trying in every way possible to attract corporate activity into cryptos by passing a series of bills that not only exempt businesses from property taxes (mining operations), but also exempt public services from securities laws and stock exchanges.
It remains to be seen how all this fits in with federal money laundering and customer awareness rules, but it is clearly a positive sign for investors.
Coinbase, one of the largest crypto exchange, announced a banking partnership with Barclays. This is not a small or insignificant development given the highly regulated nature of British banks and the associated anti-money laundering regulations. This is a big step forward.
None of this will bring back the Bitcoin to $20,000 right now, but it's sometimes the absence of bad news that stops the market from falling. Maybe that's it.