While many signs point to very bullish months coming up, the macro environment still has the global economy on ice.
The Bull Case
Bitcoin, Ethereum and the entire crypto space are nine months into the bear market. But some signs point toward a possible recovery.
Yesterday's megabears already closing trades after a -3.1% move tells you everything you need to know
— Jack Niewold 🫡 (@JackNiewold) August 15, 2022
Crypto Payments
Despite the crypto winter, crypto payments have become a more widely adopted utility in the digital currency ecosystem.
Dmitry Ivanov, CMO at CoinsPaid, told BSC News how crypto payments grew in the first half of 2022 to offer faster and cheaper local and international transactions:
“For H1, the growth and usage of cryptocurrencies for payments were more evident, with our data showing the number of processed transactions increased by two times and reached almost 9 million. Additionally, the volume of operations increased by 180%. This use case has come to stay, and we can expect this trend to continue in the second half of the year.”
Rising Prices
Prices are also starting to recover.
#Bitcoin not giving up and pushing again after the bounce on the local trend support. Important range right here on the $24k. This range has been resistance for about one month. pic.twitter.com/ADFMVo7XvY
— Crypto Rand (@crypto_rand) August 11, 2022
- After bottoming out in June, Celsius token briefly rebounded to its January levels. It has since retraced but is still up 750% from its June lows.
The Celsius token is now flat in 2022 pic.twitter.com/7z47ttkkPB
— Alex Krüger (@krugermacro) August 15, 2022
- Meme coins are taking off.
Some crypto traders may be worrying about the end of this bull run as dog coins take off. Dog coins ramping up marked the end of the two 2021 bull runs. However dig in and you'll notice this dog run just started and is news driven. The $DOGE run in particular looks sound to me.
— Alex Krüger (@krugermacro) August 16, 2022
Institutional Support
Big institutions are doubling down on the sector.
- Many top 100 public companies have invested in blockchain in the last few months.
They are silently in crypto already... pic.twitter.com/C5YeiE91P7
— CZ 🔶 Binance (@cz_binance) August 16, 2022
The world’s largest asset manager @BlackRock has partnered with top-tier cryptocurrency exchange @coinbase to make crypto accessible directly to institutional investors.
— BSC News (@BSCNews) August 7, 2022
What does this mean, and why has social media gone berserk about it? Let's take a closer look 🧵
(1/12)
Tornado Cash and Regulation
It's hard to assess if regulation is bullish or bearish for crypto – it mostly depends on policymakers finding the right balance between freedom and security.
- The U.S. Treasury recently banned crypto privacy mixer Tornado Cash, which could have significant implications for the space. Even Vitalik Buterin has admitted to using the protocol.
I'll out myself as someone who has used TC to donate to this exact cause.
— vitalik.eth (@VitalikButerin) August 9, 2022
- Alexey Pertsev, a developer who contributed code to the decentralized protocol, got arrested.
- Bitcoin Lightning Network’s regulatory risk is also increasing.
1/ In light of the recent Tornado Cash situation, I feel like regulatory risk (esp. AML) for the #Bitcoin lightning network is generally under-discussed.
— Patrick Hansen (@paddi_hansen) August 16, 2022
I will have a closer look in the next weeks, but here are a few initial thoughts 👇
- Major influencers shared their concerns against overregulation.
Sanctioning a technology (as opposed to an individual or entity) seems like a bad precedent to me, and it should probably be challenged. Could have many downstream unintended consequences.#TornadoCash
— Brian Armstrong - barmstrong.eth (@brian_armstrong) August 14, 2022
Hopefully obvious point: we will always follow the law.
- The increased regulatory scrutiny can also backfire on policymakers.
Prediction: developers will be more anonymous; code will be more open-source.
— CZ 🔶 Binance (@cz_binance) August 15, 2022
- Crypto lobbies are starting to fight against overreaching sanctions.
The first challenge of the Tornado Cash sanctions could be coming soon... pic.twitter.com/lUbxleCCuK
— Coin Bureau (@coinbureau) August 16, 2022
The Merge
- The Ethereum Merge is less than a month away.
NOW: @ethereum merge to proof-of-stake estimated for September 15-16, 2022.#NEWS #crypto #Ethereumhttps://t.co/khm17zBdJq
— BSC News (@BSCNews) August 12, 2022
Emerging Economies
- Emerging economies like Argentina are adopting cryptocurrencies at unprecedented rates.
⚡️ BREAKING: #Argentina will run #Ethereum nodes in 2023. pic.twitter.com/HeTfWZzO4P
— Crypto Rand (@crypto_rand) August 15, 2022
The Broader Picture
Many argue that the current crypto bear market started with the bigger macro picture.
- The U.S. is arguably in a recession.
The recession disinformation campaign is pointless.
— Chamath Palihapitiya (@chamath) July 27, 2022
1. Assumes people are either dumb or never believed definition in the first place
2. Won’t change what actually happens to the economy or people
3. Will be dumb point of debate if/when GOP also tries to play “hide the cheese” https://t.co/dNw3joiIo1
- The U.S. and Europe have been facing the highest inflation since the 80s.
The Inflation Reduction Act is now law.
— President Biden (@POTUS) August 16, 2022
Giving Medicare the power to negotiate lower prescription drug prices. Ensuring wealthy corporations pay their fair share in taxes.
And taking the biggest step forward on climate in our history.
- The war in Ukraine is contributing to the global economic slowdown.
⚡️ Annual inflation in Ukraine reaches 22.2% in July.
— The Kyiv Independent (@KyivIndependent) August 10, 2022
According to a report by the State Statistics Service of Ukraine, consumer prices in Ukraine accelerated to 22.2% in July compared to last year.
The question remains: Has the global economy bottomed out, or should we expect a stronger correction? As crypto acts both as an excess liquidity sponge and an alternative to traditional finance, the market can still face more uncertainty.
- Inflation seems to have been regulating risk asset prices lately,
This little number did kick-start the last two trends across risk assets though pic.twitter.com/VhonX49HLt
— Alex Krüger (@krugermacro) August 9, 2022
- And some argue there is a sustained risk of recession ahead ...
- ... While other respected macro analyzers think we saw the worst in June.
Well, this appears to be one of the most hated rallies I've seen in quite few years in equities. Probably has quite a bit more to go (path of most pain) and a very decent chance the low was in June.... 1/.
— Raoul Pal (@RaoulGMI) August 11, 2022
The best thing for individuals to do is probably to broaden their perspective and realize how crypto can outlive short-term uncertainty.
I do think there’s a terminological difference worth highlighting.
— Balaji Srinivasan (@balajis) August 10, 2022
When you see ♾/21M, that’s not a thesis about Bitcoin as a short-term hedge against inflation. It’s a thesis about Bitcoin as a long-term hedge against monetary debasement.
The ♾ is MMT, the 21M is BTC.
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Related News
Raffle Coin (RAFF) Presale, Tipped for 100X, Draws OKB (OKB) and Cronos (CRO) Investors to Its Raffle Platform
Offering transparent governance and promising a 100X return opportunity, analysts anticipate Raffle Coin's potential to become a "blue-chip" cryptocurrency.
The spotlight this time goes to Raffle Coin (RAFF) in the dynamic cryptocurrency market for being an upcoming decentralized raffle platform that looks set on a path of exponential growth. Raffle Coin (RAFF) is one of those projects where its presale has been noticed by not only individual investors but also established projects like OKB (OKB) and Cronos (CRO) amid whispers of a possible 100X opportunity.
Let's dive further to understand what makes Raffle Coin (RAFF) an interesting contender in decentralized finance (DeFi).
OKB (OKB): Navigating Low Volatility in the Crypto Market
OKB (OKB) is comparatively one of the calmer ones, showing its latest 3.47% rise to $59.64 compared with its peers. OKB (OKB) receives a Volatility Rank of 24 from InvestorsObserver, which, paired with its counterparts, leaves it in room for the bottom 24% of cryptos. This translates to less consistent, narrower price swings and Trading near resistance levels; OKB (OKB) faces potential selling pressures ahead despite its stable performance.
Cronos (CRO): Paving the Way for DeFi Adoption
Cronos (CRO) is one of the blockchain platforms emerging as a trend with the easing of the DeFi applications. Currently trading at $0.1454, with a year that has seen spectacular rises and positive momentum from the previous 7 Days, Cronos (CRO) is high on interest as a token, seeing significant adoption and volume on sites like KuCoin.
Raffle Coin (RAFF): A Decentralized Raffle Revolution
Raffle Coin (RAFF) has been the talk of excitement in the crypto space, with the presale being said to present one of the best opportunities for a 100X return. Designed to suit individual and institutional investors alike—including, but not limited to, OKB (OKB) and Cronos (CRO)—Raffle Coin (RAFF) offers leading and decentralized governance in its entirety with a completely clear reward structure.
At just $0.020 per token, there is no doubt that, in the presale stage, Raffle Coin (RAFF) will be luring investors for huge returns as it snowballs. Analysts and enthusiasts alike are waiting for Raffle Coin (RAFF) to become a "blue-chip" cryptocurrency, considering the strategic partnerships and features developed to be user-centric.
Conclusion
The high return presale of Raffle Coin (RAFF) is calling the attention of investors in the crypto space. With an innovative model, strategic partnerships and a fast-growing community, Raffle Coin (RAFF) is poised to carve its name in DeFi history. In this respect, from the unfolding of the project, it is clear that Raffle Coin (RAFF) is more than a cryptocurrency but a change engine for the decentralized platforms and the raffle world.
Find out more about the Raffle Coin (RAFF) presale by visiting the website here.
Disclaimer: This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $300. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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