Mass Adoption Of Crypto Closer Then Ever
Mati Greenspan | May 24, 2019 08:45AM ET
Mass adoption of cryptoassets now seems closer than ever. Yesterday, the crypto community was rocked by this news ...
The funny thing is, now that we have the option to pay our bills with Bitcoin , I'm not so sure that I want to. There will only ever be 21 million BTC in the world, so many hodlers out there will be quite hesitant to part with their holdings over something as trivial as a phone bill.
Still, this, along with the recent announcement from Flexa , that bitcoin payments will soon be available at thousands of retail stores across the States, makes the dream of living only off crypto now quite plausible.
Easier to spend means a greater use case and a greater level of adoption. The tipping point is likely very close now.
Today's Highlights
Farmer Bailout
EOS Buyback
Bitcoin Consolidating Gains
Please note: All data, figures & graphs are valid as of May 24th. All trading carries risk. Only risk capital you can afford to lose.
Traditional Markets
Just as I'm writing to you, it seems the Pound Sterling is reacting to this ...
Across the pond in the United States, there's some political controversy over this ...
As we know, Trump's trade war with China has been having an adverse effect on his base. If he does want to win in 2020, he will need to keep the farmers happy. In this case, keeping the farmers happy is clearly coming at the cost of making many others upset .
Financial markets are still keeping their cool for now but many analysts are now on high alert.
Block.one
As the crypto markets consolidate their gains, some crypto companies are doing the same. Block.one, the maker of EOS, has recently offered its shareholders a very handsome share buyback.
Get The News You Want
Much to the chagrin of the average cryptotrader, anybody holding EOS tokens from the time that they launched their main net last June (purple circle), is currently at a loss.
Bitcoin Consolidation
The ascending triangle formation that we've been watching is playing out beautifully at the moment. $8,000 per coin is presenting some excellent resistance. The ultimate psychological resistance remains at the recent highs around $8,350.
In this interview with BlockTV , I've laid out two possible bullish scenarios, a conservative one and an aggressive one. Here's a chart that shows them both.
The bullish ascending triangle bullish is further confirmed by the declining volumes. Messari's real 10 number is reading less than $1 billion for the first time in a while. Volumes on the CME and on the bitcoin blockchain have also pulled back slightly but remain elevated.
The last thing I have for you today is a short video that I found interesting from the crypto friendly investor Mark Yusko. I just found it fascinating how much his views and portfolio reflect my own. Hope you enjoy!
@MatiGreenspan
eToro, Senior Market Analyst
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