Bitcoin Conference 2021 Keeps Crypto Markets Buzzing
Remember this poll we posted last Friday?
As it happens, the Miami Conference really WAS the catalyst for a crypto recovery, which is underway as we speak. We’re glad to see that 45% of our followers were able to recognize this. If you’re among them, we only hope you were able to buy the dip before BTC took off the way it did.
We knew this conference wasn’t one to miss and made sure to send our analyst Alex Benfield to the scene. I’m sure Alex has quite a few juicy details and insights from the conference that he’s eager to share, so watch out for his report.
One important development that emerged at the conference was a key ingredient of the sudden BTC surge this week: the proclamation by the president of El Salvador that Bitcoin (BTC, Tech/Adoption Grade “A-”) would be considered legal tender in the Central American country.
This started a trend among other countries, with politicians from Paraguay, Brazil and Argentina embracing the BTC “laser eye” meme.
At the time of writing, however, further recognition of the King of Crypto is being harshly opposed by the International Monetary Fund (IMF). It seemed to us that they quickly want to make an example out of the small country of El Salvador.
Here’s our take:
... among them, rather than discourage it. Stay strong El Salvador!— Weiss Crypto (@WeissCrypto) June 10, 2021
Finally, a note to the downtrodden nations of the world: with #Bitcoin, you get to PARTICIPATE in the world monetary system, rather than take directives directly from those who control it. #elsalvadorbitcoin
Another important piece of news in the last seven days was the allegation by the mainstream media that somehow, BTC was hacked in the aftermath of the Colonial Pipeline caper.
As Juan clarified in our Tuesday issue, this was, at best, poor journalism and at worst, a malicious misrepresentation of the facts. It created fear, uncertainty and doubt (FUD) designed to jeopardize the notion of security, which is one of the bastions of BTC.
With the world unraveling around us, one would think that the crypto community would get distracted, get lost in the FUD and forget about projects they support.
In the poll below, we put our finger on the pulse of the crypto community. Rest assured, traders and crypto enthusiasts are alive and well ... and they’ve got a pretty clear picture of who they believe will be the next big market winner.
Our followers on Twitter, Inc. (NYSE: TWTR) are still bullish on Cardano (ADA, Tech/Adoption Grade “B-”). Fingers crossed they’re right!
Looking ahead to next week with cautious optimism, we’re hoping to see even greater crypto adoption, green markets and a lot of great insights by the community.
If you have a question, a comment, or a suggestion, all you need to do is use the hashtag #WeissCryptoAlert, post your question, and we’ll do our best to respond in the next episode of CryptoBuzz.
Until then, stay safe and trade well.