I think we could see some fireworks in the next few weeks, could the price rise over US$ 50,000, and onward towards $75k before Christmas?
El Salvador’s Bitcoin acceptance further legitimizes the belief that people should be in control of their money,
SAN SALVADOR, El Salvador (AP) — El Salvador became the first country to adopt Bitcoin as legal tender Tuesday, but the rollout stumbled in its first hours and President Nayib Bukele said the digital wallet used for transactions was not functioning.
For part of the morning, El Salvador’s president became tech support for a nation stepping into the world of cryptocurrency. Bukele marshaled his Twitter account — with more than 2.8 million followers — to walk users through what was happening.
The “state created” digital wallet called “Chivo” is not exactly a private wallet, but more of a state owned wallet for its citizens to hold there Bitcoin, the wallet addresses are controlled by the government and not by the individual, – not so democratic. – so in effect they can disable your wallet at will and the user have no control over it.
However “In the coming years, many more nation-states will use crypto as part of their monetary policy, either as reserves in their central banks or using cryptocurrency rails for central bank settlements, or potentially just simply taking a cryptocurrency — as El Salvador has done — and make it the national currency.”
I’ve not been around for the last couple of days, hence the lack of a new blog post yesterday. I’ve actually been looking at an array of the latest Electric vehicles, including 2021 model cars, E-Bikes, Lorries, and everything else. Well back to the topic at hand and a look at three crypto’s that soon have some major developments, and worthy of a serious look.
The altcoin space is on an absolute tear. Cardano’s (ADA) Alonzo upgrade (and the arrival of smart contracts on the network) is right around the corner and is now the third-largest cryptocurrency by market cap. Solana (SOL), meanwhile, has emerged as a serious contender to compete with Ethereum (ETH) over the coming years and has arrived into the top ten of crypto assets by market cap. Not to be outdone, trade volumes of ETH have lately surpassed trade volumes of BTC.
I hope this prompts you to look further into all three crypto’s and do your own research, there are lots or articles and serious crypto press covering new events.
Some financial experts believe that the price of cryptocurrencies is solely driven by investors’ speculation, and in the past few years detractors have suggested that fixed income instruments like treasury bills have no relation to do with digital assets. This point of view is fairly accurate because, at this time, most investors from the asset class are not allowed to invest in Bitcoin (BTC) and altcoins.
It’s very possible that a Bitcoin EFT (Exchange Traded Fund) approval may happen soon, it could open the door for more conservative investors and have and irreversible impact on BTC price. My thoughts are that it could happen sooner rather than later.
What will happen to the price of XRP?
The next 2 weeks, there will be a lot happening with the ongoing SEC v Ripple lawsuit. On the 31st August there will be a Telephone conference hearing at 12.00 EST, also on this date is the “Discovery Deadline” is reached. The month of August this will be the most important feature happening this month. It is almost certain that Ripple will win the case over the SEC by a country mile.
The price of XRP could rise depending on the outcome and decisions being made in the Lawsuit case, but it will need to be a BIG win for Ripple for the price of XRP to rise substantially.
If you are a Crypto enthusiast it’s defiantly make sense to get some XRP and HODL for the Future.