EddieJayonCrypto
20 Feb 22
So, the market has taken a major downturn and instead of looking at Bitcoin struggle to hover at $40K we are, instead, looking at it trying to drop to $35K.1. As I have been saying, I think this is a direct result of Russia and their impending invasion of Ukraine. While other people are scratching t...
So, the market has taken a major downturn and instead of looking at Bitcoin struggle to hover at $40K we are, instead, looking at it trying to drop to $35K.1. As I have been saying, I think this is a direct result of Russia and their impending invasion of Ukraine. While other people are scratching their head about why Putin wants to do this I think it is clearly because he needs to change the narrative from a poor economy to something else. Anything else. He also needs to buy some time to maneuver money in such a way that the sanctions do not hurt him further. I have been listening to conversations about how the cryptocurrency space is dropping and it can bust. The reality is that could actually happen. However, if you ask me the odds, I will say it is almost too difficult to calculate. Why? Because there is too much invested in the space by people that have moved billions into cryptocurrencies. Not to mention, there are people like Putin that desperately need cryptocurrencies to be successful or plans fall through. That would be disastrous for them. You also have strong backers of the technologies behind cryptos that are banking on the usefulness of crypto in both business and everyday life. We may see crypto dip to places we are not going to like, but with so much ahead of crypto, I think you are going see crypto truly hit a strong upward stride later this year. I am thinking late second quarter to mid-third quarter. 2. I am looking at Cardano and their track record for delivering everything they say they are going to deliver. That takes attention to detail and working closely with their community to get things done. For example, they have just doubled their bug bounty reward payouts. Starting February 14th, they started asking ethical hackers to help them identify crucial flaws in the Cardano Node. These bounty hunters will be awarded up to $20K. Hats off Team Cardano. When a project is that serious about your project it doesn't take a rocket scientist to see big things are coming. Currently at $.94, Cardano is on sale. I am going to wait until tomorrow to see if there is another move downward. Then I will buy in. 3. There was an OpenSea hack that has seen millions of dollars' worth of NFTs stolen. Why did this happen? It was recently disclosed that a bug in the code would allow malicious actors steal NFTs using old listed prices for the respective NFTs. The hacker has been able to sell some of the NFTs as well as has returned some. I am pretty sure there is a lot more to this story that will continue to come out in the future. The question on a lot of minds is will this have an effect on Ethereum/ I think not since it seems to be specific to OpenSea and their code that caused the hole for the phishing attack.