EddieJayonCrypto
23 May 22
I am seeing a lot of infrastructure being built out around cryptocurrencies. More importantly, I am seeing a lot of crypto technology being used as a main focus for business decisions.Things like Cloudflare joining the Ethereum validators with its own nodes. Mind you, Ethereum is poised to move from...
I am seeing a lot of infrastructure being built out around cryptocurrencies. More importantly, I am seeing a lot of crypto technology being used as a main focus for business decisions.Things like Cloudflare joining the Ethereum validators with its own nodes. Mind you, Ethereum is poised to move from proof-of-work (PoW) to proof-of-stake (PoS). Goldman Sachs leverages crypto tech, invests in it and sees value of it. More countries are installing guardrails for crypto in the form of regulation or even honing existing regulation. There is more adoption by retail businesses with luxury brands going on records as accepting digital assets as payments.In all, I am looking forward to the next week to be a relatively positive one for crypto. Crypto has been maintaining a steady sideways band as the days pass. I think the market is looking for a solid economic status before we can move up. I think we can move down, but I think that would be a temporary move. In the chart I show you can see how Bitcoin has been moving within a tight band only briefly breaking out into an only slightly larger outer band. That shows me a lot of tension in a positive spring that will eventually be released.