The cryptocurrency news for today is, it is official..... the bull run in bitcoin, altcoins and tokens has started.
Bitcoin kickstarted the foray but although experiencing a mild pull-back, the daddy of crypto is yet again forging full steam ahead bringing the altcoins with him.
Ether (ETH) has joined the party early, things are starting to heat up and is promising to get a little bit heady for the altcoin sisters and brothers.
Be prepared, Institutions are watching and are set to enter the crypto space, which can only serve to push the price of many popular cryptos to unbelievable
heights - you have been warned! Take note also that with a meteoric rise comes FUD (fear, uncertainty and doubt) in epic proportions. This is all part of the game of cryptos.
As is usually the case, at the start of the cryptocurrency market racing up, up and away, watch out for the various forms of manipulations and shenanigans by crypto whales. Their sole aim is getting you to exit your crypto holdings (by way of causing (FUD) so they can buy them up at rock bottom prices.
Whale activity and manipulations come in many forms, however, what they all have in common is, the trap they set of scaring people out of their crypto positions. Bitcoin is the first and usual target.
Cryptocurrency news released yesterday regarding regulations on self-custody wallets is the start. Yes, you do need to pay heed to this type of breaking news and, yes, it is worrying to hear. What you must also bear in mind is that 'news' can be a double-edged sword. It can work both ways if you take time and apply logic to what you are hearing.
News can either cause crypto investors to dump their stash on hearing adverse proposals or developments in crypto or, can lead investors up the garden path to FOMO (fear of missing out).
FOMO is an especially powerful weapon within the crypto space, as is (FUD). All sorts of positive news are released about Bitcoin, a particular altcoin or token, causing investors to FOMO into the token or coin, pushing the price up to dizzy heights. You then get what is called a rug-pull.
These rug-pulls are performed by crypto whales or Bitcoin whales, who want what you have got for a fraction of the price it is truly worth. The sad part is that
many crypto holders will panic sell their positions, which feeds right into the hands of the whales who will simply step in and buy up Bitcoin or the altcoin at rock bottom prices.
Do not get caught up in what has become the politics of crypto. If you are in a crypto token etc., remember your reasons for getting on board. Whether it is because the token has strong fundamentals, or has an exceptional good use-case and has staying power. Hold onto that vision and do not be easily shaken out because of alarmist crypto news. This is the risk to crypto holders moving forward and as prices start to put in unbelievable highs.
Pay close attention to any cryptocurrency news in the months ahead, especially those that are 'adverse' in nature or even overly optimistic. Apply a balanced approach.
To put things into perspective in relation to yesterday's cryptocurrency news, Bitcoin is being acquired by many institutions such as Greyscale, a stock exchange investment vehicle. Paypal is onboard, offering host-custody for the customers who buy the digital currency in the USA and they are planning on rolling this service out globally. Many other institutions are getting in as regulators have greenlighted banks and institutions to offer crypto to their customers.
The writing is on the wall! Institutions are in because crypto is here to stay. We are seeing the start of mass adoption of cryptocurrencies in the mainstream. Regulation and acceptance of cryptos over the past few years have made the space safer for the average investor to get into crypto.
Fiat money is not working; money printing to prop up the economy is not working; inflation is eroding our personal wealth; governments worldwide are rolling out their own version of digital currency - why!
The bull-run has started, ignore the FUD, do not get engulfed in FOMO, keep your own counsel, do your research, know why you are involved in particular cryptos and stay the course as you pre-determined you would do. Above all else, take a balanced and measured view of all cryptocurrency news that emerges in the cryptocurrency space.
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