A Decentralized Future Awaits

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22 May 2024

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A Peculiar Journey
Looking back along Bitcoin’s history reveals a journey marked with what seemed at the time to be impossible hurdles, and yet here we are today. Bitcoin ETFs are the norm, companies are putting Bitcoin on their balance sheets, and institutional investment is expanding steadily. Not only that but countries are choosing to use BTC as legal tender, as well as mining Bitcoin with government resources.
Against all odds, Bitcoin has prevailed. The crack in the dam wall is now beyond repair and a flood of decentralized protocols is about to enter the city. What can prevent the inevitable and explosive flooding that follows when a dam wall gives way? In the same way, Bitcoin, and other decentralized protocols are now beyond the point of recall and resistance. Crypto is on the road to critical mass.
It is also a consideration that critical mass has already been achieved. Binance alone already has almost 200 million users. Yesterday, the BlackRock Bitcoin ETF surpassed $1.2 billion in inflows within 24 hours. It’s more than acceptance and adoption, it’s embracing an entirely new and innovative asset class. There is little Gary Gensler and the Elizabeth Warrens of this world can do now.
The Resistance Is Weakening
Gary can and will make things difficult. You can count on that. However, even he is impotent compared to the power of a break in a dam wall. The recent jump from a 25% to a 75% chance of a successful ETH ETF approval is evidence of this. However, I am not quite sure how an ETF can be approved while there is no clarity regarding the ongoing “security debacle”. Is this favorable adjustment an indication of another outcome equally favorable for Ethereum?
Ideally, an ETF approval must coincide with a definitive verdict regarding Ethereum’s status as a security or not. Then again, when you observe some of the recent policies being passed in America, you never know. Either way, a win for ETH on both counts would likely produce an explosive catalyst, especially relating to the altcoin market. Altcoins are yet to incur any meaningful returns. Micro-caps and memecoins, on the other hand, are another story.
There have been many early performers, some of which, I notified readers of well in advance. However, many larger projects are still relatively close to their cycle bottoms. Some think that the bull market is drawing to a close. However, it’s only getting started. As I have been saying for months:

All dips should be considered buying opportunities.

As long as you extend the time horizon and remove the FOMO dynamic, it’s relatively easy to conquer the volatility.
What tends to happen is those who lack the expertise to trade the volatility, choose to do exactly that. The wise move for these individuals would be to forget about short-term moves and focus on long-term accumulation. This is the proven path for the newcomer and inexperienced alike. Regardless of bull and bear markets, decentralized protocols are in a long-term uptrend.

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Final Thoughts
A long-term uptrend does not negate periods of downside. This includes sideways chop. This is standard procedure. Decentralized infrastructure is being built, especially within the DePIN and DeFi sectors. A decentralized future is on the horizon. It’s time to reset your perspective if you still need to do so. All the best and I will see you next time!

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Disclaimer
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
This article was first published on Sapphire Crypto.