Cryptocurrency market is all about period and cycle. We use to name those cycles "bullrun" or "bull market" when it is hype and the prizes go up, and "bear market" when it is just the opposite. While I started to be sceptic about what cycle the market was, I'm observing several reasons to believe in a bright future for cryptocurrencies and blockchain.
GAFAM are still exploring crypto
Cryptocurrencies are not a subject that only interests the nerds anymore. After financial institutions, governments and investment funds, huge international firms have also invested in the cryptocurrency market. Tesla being a pioneer, GAFAM are having a look at it closely too. Indeed, there were several sources that were saying that Amazon could accept the $BTC on its platform. Although the company has denied these rumors, it is clear that Amazon is interested by the crypto market nevertheless, and even the company itself has revealed it into a press release on July 26th.
Also, Amazon has published a job dating for a manager in virtual currency and blockchain, as Amazon is expected to launch its own cryptocurrency which will be useful for their customers into their ecosystem.
Paypal is likely to launch its "super app" with crypto services
Dan Schulman, Paypal's CEO, said that the application is ready, as well as the wallet that will be available for their clients. In addition to storing cryptocurrencies, he also said that there will be saving products with really high yields.
Paypal and Amazon are two giants of the finance and the economy and it proves once again that we are right : the future will be made with cryptos and blockchain.
At last, governments are more and more aware of the economical revolution that the Bitcoin represents for the historical institutions. The fourth wave of COVID-19 is accelerating the adoption of cryptocurrencies.
All those reasons have made me think that the market is probably still in the bull run. What's your opinion about it ? Tell me in the comment sections.
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Also still bullish here. We are still at the start of crypto. Still so many people are unaware others don't participate due to fud or because it is still too risky for them!