These Signals Are Very Positive And Are Going To Trigger The Next Bull Market
Since the second half of January we saw a big decline in market sentiment. A lot of new people that invested during the December bull market lost money because they did not understand what happened. As we always mentioned, the peak in December was unhealthy. Therefore the huge January dip was only a matter of time.
The weeks and months after the dip the market was very volatile and there were a lot of negative mainstream headlines about regulations and bans. A perfect timing to slow the cryptocurrency trend down. Al these events caused a decline in market sentiment and people lost trust in cryptocurrencies. People that are well informed use these opportunities to stack up their portfolioś and gain huge from volatility. These people know that the next bull market will come back and dare to take the risk.
Yesterday the statement from G20 brought some positive sentiment to the market. But the statement was nothing new to us. Over the last weeks we shared dozens of statements that showed governments were going to be very positive. But as we all know, people need official confirmation and there it was. As the market is positive now, let's look forward (and a little backward) what will bring more positive sentiment to our beloved market.
The Consensus Event
From the 14th of may till the 16th of may, Coindesk is hosting the Consensus event with over 4.500 attendees. And the attendees are not the retail-investors, but big companies like accountancy firms such as KPMG, EY, PWC, banks such as ABN AMRO, Citi and Scotiabank, huge companies such as IBM, Microsoft, Siemens and Procter & Gamble and huge investors such as CME Ventures. You probably think, what will drive the price to new heights? This event is all about blockchain, and so, cryptocurrencies. The consensus event gives start-ups the opportunity to meet with the big players in the world. Big players that can turn the sentiment all green. This event will be the trigger, again, for small investors but also provides the big boys from the information they need.
READ OUR EARLIER POST ABOUT CONSENSUS
Trump’s New Economic Adviser Hints at Friendly Tax Policy for Crypto Investors
At this moment cryptocurrency gains are seen as growth of capital in the USA. Therefore people pay the taxes that are involved with this. And that taxes are pretty high, especially when your gains are 6000%. Trump's New Economic Adviser wants to lower these taxes exponentially. Simply said, this means that your crypto gains will have lower taxes and this makes it more interesting for a lot of people to invest.
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China is planning their own International Blockchain Investment Development Center
The government-linked Investment Association of China (IAC) is planning to create an “International Blockchain Investment Development Center,” aimed at introducing industry standards and Blockchain investment alliances and funds, local news outlet The Paper reported March 14.
China news is always a huge thing in the market. But, this proves us that China will not be as bad to blockchain projects as it seems to be. The word is not out yet, but it will be only a matter of time that China will re-open trading, for sure.
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South Korea Plans To Make ICOś Legit
Online news source The Korean Times reported this week “Financial authorities have been talking to the country’s tax agency, justice ministry and other relevant government offices about a plan to allow ICOs in Korea when certain conditions are met.”
Not everybody knows it, but especially ICOs are a pain in the ass for governments because of the huge number of scams. When South Korea is taking the lead, a lot of other countries will follow because they do not want to miss the huge opportunities in terms of tech, employment opportunities and of course financial growth of blockchain projects.
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Last But Not Least, Clif High Also Says It ;-)
At this moment datasets are showing that people discussing cryptocurrencies online are slightly depressed, most of the people can not see the bigger picture and are in fear. Luckily, Clif Highs datasets are telling him that this feeling will most probably turn around in June. Check out the video, it is must-see if you are a crypto enthusiastic.
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