Weekly Main Deterministic Factors For The Cryptocurrency Market

By Rubikkav | Rubikkav Insights | 25 Apr 2021


The last week of April is planned with some surprises. Among these, the negative correction of more than 20% loss for the market; negative sentiment and low interest on the part of the big players; recovery and improvement of problems in China; price fluctuation towards the breakdown of important supports, but with a good opportunity for cheap buyback; and above all, a supposed ergonomics that would make a speedy recovery possible for the market.

Therefore, dear friend of ours, for the next few weeks it is important that you take note into the following fundamentalist factors. Do not get caught up in “cat for a hare”.

BLOCKCHAIN SOLUTIONS GROW

A new report published on August 19, 2021 by the US market research firm International Data Corporation (IDC) or International Data Corporation, predicts that total spending on “blockchain solutions” globally will reach USD 6.6 billion in 2021 , and as written by criptonoticias.

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This figure represents an increase of 50% compared to 2020. While the total spending on this type of deployments will reach, according to this study, USD 19 billion in 2024 at a compound annual growth rate of 48% between 2020 and 2024.

It is also estimated that 20% of the investment will come from discrete manufacturing and process manufacturing, with the fastest growing industries being professional services (56.0% compounded annually), state / local government (53, 3%) and medical care (52.7%).

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Users can now enjoy economic commissions to make their Bitcoin transactions, when there are still approximately 6 days left for the next network difficulty adjustment, according to BTC.com.

Indeed, the hash rate has returned to optimal levels, hovering around 170 Exahashes / s, when the lowest point in recent days was 120 Eh/s, according to YCharts.

DOMINANCE LOSS

It seems a negative aspect, but it is worth remembering that until the end of this month the dominance of Bitcoin has already fallen more than 26% in relation to other assets on the market.

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It is negative on one side, but it can be positive on another. For the first place we already see a higher capital allocation for other assets different from Bitcoin; and on the positive side, we can see in the coming months a momentary growth of some assets few touched, but with something in particular: we will enter a process of economic loss that will make it impossible to attract and inject new capital...

Read the complete article here https://rubikkav.com/insights/weekly-main-deterministic-factors-for-the-cryptocurrency-market/.

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