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The last crash of the market left a negative and extreme feeling to the point where many of the sentimental indicators fired overnight.
Players Sentiment Has Evolved
For the date this article was written, alternative shows us the effect of the extreme fall in prices and the departure of lots of mass capital.
On the other hand, we are trying to understand why thetie shows us that we still have neutral feeling in general. But if we think about it, the cryptocurrency market has changed a lot since the last bull run and that’s exactly what we want to talk to you about here.
The absolute truth of this evolution can be really framed in the fact that the most experienced investors or market players already know what to do when an extreme price drop occurs. The market after a few hours quickly recovered in 10% of the total capital that had come out.
Neutral then, it can now mean that players know very well how to play chess to kill the king in the end.
Community Sentiment Is Now Stronger
What we can say is that community activity since the last bull run has strengthened quite a bit. Nowadays people understand more about cryptocurrencies and the concept of blockchain than years ago.
For a change, people are beginning to understand much better that crypto assets are a safer form of investment.
So if this is a compelling fact, we should not be surprised that in the coming years many of the traditional market companies will create their tokens to list them in the stock market.
Blockchain Technologies Adoption Up
Not to mention that many of the governments are already studying the possibility of creating a state currency based on our emerging technology.
A clear example of what we are talking about is the Tezos token, what had been atop our Emerging Trends leader board for much of the day.
With the asset up 15.69% over the past 24 hours, the has turned heads as traders are finding ways to make positive returns despite bitcoin’s flat performance, according santiment.
But what we really want to talk to you about are the big players in the market, who really are a few injecting smart money in bulk.
Next Feeling Will Come From The Big Players
We can not lie to anyone that we are really in a new state of re-accumulation and that new cycle many investors are learning to deal with, others are calmer, but those who are really making a big mess are the big players of the big leagues.
So now the empirical bull and bear theory is no longer serving anything. The question in which real market sentiment we are is no longer enough.
Nowadays the big players, the renowned economic institutions are creating feelings for the investors that leave the pattern to which we are accustomed.
Only the purchase and mass sale of future contracts says it all. And we have to say it, the latest ups and downs of the cryptocurrency market in sentimental terms has been due to the game that institutions are doing in the market.
The Mobsters Know To Play Very Well
For another hand, in this new phase of re-accumulation it is no longer strange to us that the large flow of capital that enters the market comes from the institutions, the same ones that years ago were against Bitcoin and blockchain technology, and today belong to the category of Big Players in the market.
One of the first players we want to name is the Security Exchange Commission (SEC) and the invocations seeking the approval of the Exchange Trade Funds (ETFs). Now their game is in reviewing the proposal of one of the ETFs that was rejected months ago as explained cointelegraph.
Secondly, we have Galaxy Digital who is tapping Bakkt and Fidelity Digital Assets to store the bitcoin for its two new funds as he explains coindesk.
Bakkt Bitcoin Futures New Boom
With the previous institutions, the total of the Chinese Market is added, which really has more decision power than the United States market.
From this process we must highlight the latest emergence of the Bakkt in the negotiation of future consulates. While the Chicago Mercantile Exchange (CME Group) maintains its stable negotiations, Bakkt continues to reach high historical together with Binance.
The last maximum recorded was more than $20 million dollars. Now the biggest expectation will be with the launch of the Bitcoin options contracts in Singapore for two weeks as he clarified coindesk.
Decentralized Institutions Are Losing
Thirdly, we have the banks, that is, the centralized institutions that years ago said that Bitcoin and blockchain technology was a danger to the global economy. We are talking about Banks.
The real game of them so far, is being increasingly adopt technology as a means to improve international operations and currency exchanges in a faster and more efficient way.
This is a clear example of the bidding that says “if you can’t with your enemy, then the only option is to join”.
As clear examples we have the Santander Bank, who adopted Ripple since its birth and is now joining the Corda Network. The other example is the HSBC Bank (which in Brazil joined the Bradesco network of banks), and who is now suggesting cryptocurrencies as an alternative and secure form of investment for its clients, as well as let it know cryptopress.
Banks And Governments With A New Philosophy
Fourth, we have the participation of governments, state and non-governmental institutions, who after implementing severe social regulation policies against cryptocurrency technologies and terms associated with them, are now opening the luxurious doors to regulate and accept once and for all this new market that in the eyes of those institutions seemed a black and unknown world.
The clearest example was the Venezuelan Government, which, after the desperation of the people, left free will for the use of cryptocurrencies as means of payments. The truth was that for us that was historical during this year.
But the clearest example was the country of Malta; and who is now following the same steps is Singapore, China (as we have seen before) and as a fundamental fact for these previous countries, we think that Korea will be the country that will lead the issue with the ICON (ICX) project.
Our question for the above is: when will the time be for the government of the United States?
The Greatest Player Of All Time
Following our logic, for us, one of the most important players, and who has the fifth place, is the Grayscale financial institution, which a few days ago announced two important news for the cryptocurrency market.
Firstly, Grayscale announced the formal presentation before the Security Exchange Commission (SEC) to register as a legalized institution in order to execute financial operations under existing standards, as is clear in the article “Grayscale Bitcoin Trust’s Step Forward with SEC Filing”.
And as a second, the announcement of the diversification of investment funds or Digital Large Cap Fund under symbol GDLCF, as written in “Now Publicly Quoted: Grayscale’s Diversified Investment Product”
Remember that Grayscale is one of the pioneer institutions in the Over The Counter Market (OTC Market) for the negotiation of high purchase and sale volumes of Bitcoin.
The Silent Player
One of the quietest players in the market and ranked as the sixth in our count in this article, is the financial group J. P. Morgan, who is now testing blockchain technology within its international banking network, as he related coindesk.
Remember that the J.P. Morgan Chase leads one of the largest banking networks on planet earth. It is a group that has a lot of power and reputation since the beginning of the industrial era.
JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City. JPMorgan Chase is ranked by S&P Global as the largest bank in the United States and the sixth largest bank in the world by total assets, with total assets of US$2.73 trillion. Wikipedia.
Conspiracy Theory That We Must Understand
In tune with the above, the true conspiracy theory of the cryptocurrency market and for Bitcoin which we must understand better comes with the facts that:
(a) market sentiment is different, extreme panic may exist, but investors are now smarter than before;
(b) the adoption of Blockchain technology as an emerging alternative to get out of the world crisis and the eminent disorder is growing every day. Cryptocurrencies today are already more connected by more than 1% of the total population of the world;
(c) banks, governments and financial institutions today are more in favor of our main issue of discussion, much more so than in the previous years and next to the last bull run of the market;
(d) the chess game is now composed of 6 main actors who are really knowing the strongest strategy to get the king killed;
(e) cryptocurrency market has changed a lot. Now, we know exactly which days are good and which days are resting. We also recognize that with the implementation of future contracts the market no longer operates 24/7 (24 hours a day, 7 days a week) “literally speaking.” Now the market sentiment is transmitted more from Monday to Friday;
and (f) complementing the above, now the cryptocurrency market and with the big market players sitting at the table, we know that it has its daily, weekly, monthly, quarterly, semiannual and annual closing. So, with that we learn that the theory of eternal hold no longer works now as it worked before. We must really make our market closures and reports for periods.
See the next story. With Love 💛, Rubikators Team.
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