Cryptocurrency Market has only known one direction since March; to the moon!
Fiat continues to print after the pandemic is announced. Much of this newly created money was invested in the crypto. What else could you do if you couldn't travel? That has to be invested somewhere.
Of course, financial institutions have also recognized this and have filled their portfolios with Bitcoin and Co. and offered it to a wider audience. ETFs and such things are offered in more and more institutions, hedge funds and Co. earn a lot.
Shortly afterwards, traditional companies like Tesla were added, they have also recognized that the new type of gold, or better said, value storage, is much more profitable and not as risky as the opponents always claim. So far this year, Tesla has earned more in Bitcoin than it did when it sold its cars. Word will get around and new companies will also invest in Bitcoin. This is of course only my subjective opinion.
But the fact is that Bitcoin is being adopted more and more.
In the USA you can now pay your bills and goods via PayPal with Bitcoin and some Altcoin. And it won't stay with PayPal.
And what about Defi sector, what about NFT?
Defi has helped Bitcoin reach new heights and vice versa. And it's far from the end.
And then there was NFT. What started in 2018 has just reached its zenith and I would even say that it is just the beginning of the whole NFT story.
Burning the traditional art to create the new one is a sign of change.
Not everything is accepted and adopted at the NFT, there will also be some landings on the nose, the bubble will burst. But in the end it will work just like Bitcoin, the increase in value will be enormous. At least for the first NFT and we are in this phase where these NFTs are being created.
I would also be interested in your opinion, how do you see the future of crypto? How long will the Bull Run last?
And please remember that an end of the bull market cannot be compared to a 10-20% correction, it is not the same.
There will always be corrections, in crypto they are even greater, but the profit is also sweeter.