The beginning of December was marked by pessimistic moods and saddening forecasts from experts. Some technical analysis specialists are talking about the next support level being $12K which would certainly disappoint many BTC enthusiasts.
Despite some stabilization in the market and recoveries, retail traders are dealing with weak attitudes and anxieties.
Venture capital and large investors are still bullish. The contract between the narrative taking shape in the crypto community and decision-making at the biggest investing companies is quite interesting.
Governments are seeing value in crypto
A surprisingly large number of countries are interested in releasing their versions of CBDCs. The United Kingdom, the US, and many other big economies are looking into ways to regulate crypto assets and trading.
The multitude of scandalous debacles in the industry (FTX, Celsius, and others) did not sway the course of the crypto “ship”.
Just like a fleet of ships weathers through storms and arrives at their destination, the crypto domain is losing some of its parts but remains functional. Blockchain as a technology is something exciting to many businesses.
Porsche, Nike, Disney, Starbucks, and many other huge brands are developing their versions of tokens, NFTs, and blockchain-based products. Web 3.0 has been the most important priority for many companies that want to remain competitive in the online environment.
Countries like Brazil, Peru, Argentina, Kenya, and many others in South America, Sub-Saharan Africa, and South-East Asia are investing heavily in building the infrastructure to implement crypto on a much larger scale than in any other national economy.
Investment companies like Blackrock, JP Morgan, Fidelity Investment, and others have huge stakes in BTC funds, work with crypto directly, or invest in various blockchain projects.
A striped sky over our heads
We see a bright ray of light punching through the darkened sky. The whole crypto industry is a fusion of bad and good news creating chaos.
While the long-term potential of the whole domain is nothing but certain, the short-term could be quite anxious with prices falling before investors are ready for another bull run.