A Bullish Crypto Market On The Horizon
Folks, we’re back again to provide you with the most important crypto updates of the day. There are various factors and pieces of evidence which show that a bullish crypto market is not far away. Let’s take a look at the most important crypto news developments of Tuesday, October 9.
https://cointelegraph.com/news/crypto-markets-finally-see-wave-of-modest-growth-after-period-of-relative-stability
A Bullish Crypto Market – South Korea Goes All In
There is simply no denying the fact that South Korea has made some very big gains over the last several decades. This is no truer than it is for the development of the South Korean crypto market over the last 5 years or so. On a side note, did you know that South Korea is currently the world’s 11th largest economy? That’s right folks, this country is a true economic powerhouse, even though its size is not the largest in terms of area.
At any rate, South Korea is one of the biggest investors in cryptocurrencies at the moment, and the plans are only to invest more, not to slow down. Park Won-Soon, the now third time governor of the South Korean Capital, Seoul, just made a really important trip to Zug, Switzerland where he discussed important events on the horizon. One of the things which signals that a bullish crypto market is on the horizon, is how Park and Seoul have committed a whopping $100 million dollars to bringing crypto companies to South Korea.
https://www.ccn.com/south-korea-to-loosen-crypto-rules-in-cooperation-with-g20-directive/
To be exact, the plan here is to build two massive business complexes, one in Seoul’s Western district, and one in the southeastern district. The plan right now is to house over 200 various cryptocurrency and blockchain companies. Yes folks, this definitely signals that a bullish crypto market is on the horizon.
With South Korea investing so much into crypto, it is a sign of very big things to come. In terms of where crypto will be implemented, Seoul’s public service sector will be one of the first to get this overhaul. Areas like labor welfare, elections voting, certification management, and several other areas will have blockchain technology implemented into their workings. South Korea is calling crypto and blockchain the fourth industrial revolution, and they are betting a whole lot of money on cryptocurrency.
Park Won-Soon’s trip to Zug also indicated that he is looking to bring a whole lot of offshore crypto and blockchain startups to South Korea. There is no doubting that Seoul is set to become one of the world’s largest, if not the very biggest cryptocurrency and blockchain hub of the modern world. The signs for crypto investors around the world are definitely quite positive at this time.
A Bullish Crypto Market – Switzerland Is The New Crypto Valley
A Zug, Switzerland, based crypto company, Crypto Finance AG has just been awarded the very same license held by professional fund managers, all thanks to Switzerland’s financial regulator. As many have noted, especially from within the country, Switzerland is looking to become the world’s leading cryptocurrency industry, hub, and crypto economy.
Thanks to this new license, Crypto Finance AG is now being viewed as an asset manager of collective investment schemes. This means that it has the power to distribute and manage domestic and foreign funds, which is certainly a big deal for the coming bullish crypto market. The point here is that Crypto Finance AG has just obtained a very important regulatory license which indicates that it is legit, trustworthy, and that it is the real deal.
https://www.pymnts.com/cryptocurrency/2018/blockchain-firms-switzerland-crypto-valley-zug-zurich/
Up until now, people have still been weary of investing in crypto due to so many scandals, high volatility, and a general scary sentiment that comes with this whole thing. However, the fact that companies like Crypto Finance AG are obtaining real regulatory licenses from their national governments is definitely a step in the right direction. This Swiss company, which is located in the corporate tax have of Zug, is set to explode in popularity and value, yet another sign of the bullish crypto market that is quickly becoming a reality.
A Bullish Crypto Market – Prices On The Rise
There is a lot of evidence that a strong bullish crypto market is on the horizon. For the past week or so, most cryptocurrencies have seen relative stability, with price changes of just a few dollars back and forth over the last few days. What can be gleamed here, as of Monday October 8, is that the crypto market is on the rise. As of yesterday, mostly all cryptocurrencies increased in value across the board. There are 100 top cryptocurrencies out there at the moment, and nearly all of them saw some modest growth, this indication a bullish crypto market is very near.
https://cointelegraph.com/bitcoin-price-index
Bitcoin just received a big boost, growing by as much as 2% in the last day alone. It finally managed to break the $6,600 mark and is now sitting pretty at nearly $6,670. The last month or so has seen Bitcoin grow by roughly 8%, which is definitely a sign of good things to come. If we are talking about cryptocurrencies, of course we need to talk about Ethereum too. Although it showed a bit of loss in the last couple of days, overall, over the last month, it has seen a whopping 17% increase in value. Ethereum is now trading at $230, a near 3% increase from last week alone. Another big crypto coin, Ripple, grew a big 3.35% in the last day alone, with gains as high as 70% over the last month.
The bottom line is that these major coins increasing in value by so much over the last day, and yes, over the last month, absolutely indicates that a bullish crypto market is finally here. When it comes to the other 95 or so major coins we have not mentioned here, each and every single one of them has seen a 1.5% to 4.5% growth rate in the last couple days alone. So, if you are an avid cryptocurrency investor, the time to get on board with so many different cryptocurrencies is right now, as the bullish crypto market is just setting out on its journey.
A Bullish Crypto Market On The Horizon – Final Thoughts
The bottom line is that countries like South Korea and Switzerland are sinking a lot of money into permits, licenses, and crypto companies across the board. This competition is sure to fire up a bullish crypto market, and thanks to this competition and solid investing from national governments, the public sentiment on crypto is finally changing. As can be seen from the gains which Bitcoin, Etheruem, Ripple, and dozens of other cryptocurrencies have seen in the last day or so, confidence in crypto is absolutely returning.
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