According to our current market conditions, it seems that one can invest in anything for a higher return. Historians may look back upon this as the goldilocks zone, however, that is no indication of economic conditions. Normally stocks would rise with a growing economy, but as the trend stands, the economy is in a downward spiral. This deviation is insight into what drives the current market. Ultimately, there is no relation to fundamentals and is all dependent on debt.
The markets will have their day of reckoning of course, although the writer of this article believes it will not be for some time. Rest assured, these distortions are deliberate, the market has a role here: it acts as a distraction for retail investors from what is actually happening around us, all in order to encourage more debt.
Indeed, this blog is tailored to encourage traditional investors to enter the cryptosphere, and one argument that will prove most effective is simple arithmetic: the gains seen in the last three months, eclipses both the gold run back in spring, and the current rally on Wall Street – but it is not over yet. If you haven’t had a reason to get into DeFi, reconsider the potential it holds. I won’t bore you with what I have to say, we have already done that in previous posts, today I’ll quote the Federal Reserve of St. Louis instead:
As of February 8th, ETH was listed on the Chicago Mercantile Exchange (CME Group). However, this has received bearish sentiment, for there are many who blame the BTC crash in 2018, on its CME listing.
Yet, there is some data indicating the contrary:
In other news, Bitcoin has pushed to a new all-time high. This followed Elon Musk’s Tweet on BTC. Musk has since championed DOGE, with a similar effect, pushing the token up by an order of magnitude in a short time.
Indications that bulls are in control of traditional markets, stem not only from the incessant monetization of debt, but several other indicators as well. We see Crude oil rise, of which stocks tend to follow.
As the week unfolded, the good news continued. On Thursday evening, the world’s first Bitcoin ETF was approved by the Ontario Securities Commission for Purpose Investments. This will be launched on the Toronto Stock exchange under the ticket BTCC and begin to trade on February 18, 2021. Another big win for Canada, encouraging traditional investors to enter the cryptosphere.
As the week wraps up, weekly market performance is reflective of the news we have seen throughout the week. The Total Market Cap of Cryptocurrencies is now sitting at $1,438,939,095,880 with a 24 hour volume of $209,182,809,669. As we review the weekly performance across the market in the past 7 days, BTC $47,093.27 (+23.47%), ETH $1,786.99 (+2.74%), LTC $184.25 (+18.33%), AAVE $515.38 (-3.28%), COMP $567.52 (+5.46%), BCH $549.28 (+24.90%), LINK $28.42 (+8.26%) just to list a few. This week has been huge for Bitcoin and Cryptocurrency adoption.
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