What Can An Average Crypto Investor Wish As Present From Santa For This Christmas?
The crypto ecosystem is at the tail end of a long-lasting crypto winter. There is a buzz around town for something called Santa Rally.
The so-called Santa Rally is causing envy for the more traditional stocks as they are plummeting in a very atypical year with the effects of the U. S. – China Trade War and some other reasons. The losses of the crypto market have stopped a bit when the market has found its floor at the valuation of $100 billion USD. Since then, the market is 30% up and keeping the trend upward.
Now, as children of the crypto community, what can we hope as presents from mighty Santa? Let's go over a ‘Dear Santa' Christmas letter wish list of what bitcoiners would like to see come to fruition in the future.
Knock Sense Into Mainstream Media Coverage Of Cryptocurrencies
Mainstream media has notoriously been cruel towards crypto. For one, they owned by large corporations who have vested interest in not seeing crypto-based project prosper. Centralized middlemen, one of which is the media hare scared of decentralization, as they lose power in the most democratic way possible.
Earlier last month BitcoinExchangeGuide had reported a story of how these biases are distributed within the traditional media. Mainstream media is the medium through which the established institution attack cryptos. To prove this, Clovr, did a study on this topic. Their analysis tracks the correlation between coverage on currency values over time and the sentiments different outlets display in their crypto reporting.
Sort Out “The Real Bitcoin” Debate
It is a popular belief that the most recent of the bear run that happened in N0vember this year was triggered by the hard fork caused by the dispute within the BCH community. Although things have stabilized now, with Bitcoin ABC edging out SV, it is far from clear that which one holds the mantle of “Real Bitcoin.”
The dispute of real bitcoin actually goes back further. BCH itself was created when there was a dispute in the BTC community which led people like Roger Ver and Craig Wright in spearheading the division between the community. We can only hope that this issue is sorted as fast as possible, although the debate is easier solved in theory than in practice.
Approve A Bitcoin ETF
Approval of a Bitcoin ETF has been the central discussion within the crypto community. We all know that Gold prices back in the 70s soared once Gold ETF was approved. The same might follow for Bitcoin. Things are looking grim though. The loss in the traditional stock market has led to the delay in the approval process of Bakkt ETF.
SEC has not been too kind on the ETF process either. They have time and again delayed, declined or postponed the approval of several ETF applications.
Tether Should Hold Value
Tether has been the center of controversy. Once there were rumors that they don’t have enough USD backing to hold their stablecoin status. The price of it dropped to as low as $0.90 but bounced back again when they switched banks to a more reputable one. Things have been better now but it is essential for the entire crypto community that the stablecoin doesn’t lose value and reputation.
Trigger A Bull Run
It has been a long long night in the crypto market. The $19,000 all-time high of Bitcoin seems like a distant dream. All we can hope from Santa is that faith is restored in the crypto markets and a steady climb in prices is triggered. Forthmentioned Santa Rally has been an optimistic start of this wish.