Where’s Bitcoin and all cryptocurrencies headed (short-term)?
What an exciting week! Our beloved coins rose 19%!
The sentiment is changing and many feel we have hit bottom (me included). I’ve been saying this for the past few months; from a regulatory standpoint, cryptos have more clarity now than ever before.
There were a few things that played in:
- Coinbase’s securities token exchange approval. While others call it a half approval…to me it’s not. It’s the real deal and I believe we’ll see the first security tokens go live before the end of this year.
- ETH is not a security. This is old news, but for me, it was a BIGGIE. Think about it, ETH which “was a security” is NOT anymore. The first question is: if it’s not a security, then what is it? Second question, if ETH could avoid being classified as a security then how can your ICO?
- Singapore’s, Korea, Japan, Thailand and many many more countries are in the final stages of drafting their crypto regulatory framework. HINT: it looks a lot like Wyoming’s utilities exemption bill. With all these laws coming more clarity and more good news will follow.
- Lastly, from a person that runs a company that builds ICOS — I strongly believe within a year from now the USA will have NON-security tokens. But will they be commodities? or utility?