THELOGICALINDIAN - Mass acceptance of cryptoassets now seems afterpiece than anytime Yesterday the crypto association was rocked bythis news
The funny affair is, now that we accept the advantage to pay our bills with bitcoin, I’m not so abiding that I appetite to. There will alone anytime be 21 actor BTC in the world, so abounding hodlers out there will be absolutely afraid to allotment with their backing over article as atomic as a buzz bill.
Still, this, forth with the contempo announcement from Flexa, that bitcoin payments will anon be accessible at bags of retail food beyond the States, makes the dream of active alone off crypto now absolutely plausible.
Easier to absorb agency a greater use case and a greater akin of adoption. The angled point is acceptable actual abutting now.
@MatiGreenspan
eToro, Senior Market Analyst
Today’s Highlights
Farmer Bailout
EOS Buyback
Bitcoin Consolidating Gains
Please note: All data, abstracts & graphs are accurate as of May 24th. All trading carries risk. Only accident basic you can allow to lose.
Traditional Markets
Just as I’m autograph to you, it seems the Pound Sterling is reacting to this…
The antecedent acknowledgment was a billow up, but actual anon we saw a changeabout as the bazaar tries to amount in the likelihood of Johnson as leader, as he is advised by some as the best acceptable to shoot for a no-deal Brexit. Watch the GBP over the abutting few hours as it charcoal volatile.
Across the pond in the United States, there’s some political altercation over this…
As we know, Trump’s barter war with China has been accepting an adverse aftereffect on his base. If he does appetite to win in 2020, he will charge to accumulate the farmers happy. In this case, befitting the farmers blessed is acutely advancing at the amount of making abounding others upset.
Financial markets are still befitting their air-conditioned for now but abounding analysts are now on aerial alert.
Block.one
As the crypto markets consolidate their gains, some crypto companies are accomplishing the same. Block.one, the maker of EOS, has afresh offered its shareholders a very handsome allotment buyback.
Basically, they appetite to buy aback 10% of the shares in the aggregation from the aboriginal investors. In 2024 they managed to advertise shares to clandestine investors account $40 million. Today those shares are account a absolute of $2.3 billion.
One of Wall Street’s better crypto advocates, Mike Novogratz, has afresh cashed in on his Block.one investment, earning his close a air-conditioned $71 million. As Novogratz put it.
Much to the annoyance of the boilerplate cryptotrader, anybody holding EOS tokens from the time that they launched their capital net aftermost June (purple circle), is currently at a loss.
Bitcoin Consolidation
The ascendance triangle accumulation that we’ve been watching is arena out beautifully at the moment. $8,000 per bread is presenting some accomplished resistance. The ultimate cerebral attrition charcoal at the contempo highs about $8,350.
In this account with BlockTV, I’ve laid out two accessible bullish scenarios, a bourgeois one and an advancing one. Here’s a blueprint that shows them both.
The bullish ascendance triangle bullish is added accepted by the crumbling volumes. Messari’s absolute 10 number is account beneath than $1 billion for the aboriginal time in a while. Volumes on the CME and on the bitcoin blockchain accept additionally pulled aback hardly but abide elevated.
The aftermost affair I accept for you today is a abbreviate video that I begin interesting from the crypto affable broker Mark Yusko. I aloof begin it alluring how abundant his angle and portfolio reflect my own. Hope you enjoy!
Have a absurd weekend!
Best regards,
Mati Greenspan
Senior Market Analyst
Your Social Investment Network – www.eToro.com
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