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I am taking this good news as another milestone for Bitcoin even if the recognition as a legal tender is just for a small economic zone under Honduras but if proven successful am sure there can be a big push to make it officially a legal tender in the entire country. Now, am sure that many maybe looking at Honduras as just another small country just like El Salvador but considering that for Bitcoin to be recognized as such is a long and winding process...I would still consider this move as a victory for BTC. Can we expect more small countries to be the ones leading the pack for Bitcoin as a legal tender? You bet and there can be more coming maybe even within 2022.
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Janet Yellen is for regulating the whole cryptocurrency industry and all players have to toe the line...especially if the federal government can be able to pass laws for the same purpose. Because the government needs more funds to sustain its spending on many big projects, it has to have many sources of tax revenues and they are now looking at the cryptocurrency industry as a good addition to new sources of money. In the end, we are hoping that there can be a win-win formula that will help the industry grow into the future and not killing it while the government gets the money it is hoping to squeeze from the people and firms into the crypto space.
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I read somewhere of an articled comparing doing crypto-based business in New York and Florida. Of course, the winner is Florida all because new York is now known to be a location where you have to deal with so many regulations and these regulations can be changing anytime so there are so many things you got to do and be required. So in my mind, why do business in there when there are many other states who are offering welcoming arms with war hugs and kisses? While I believe that we need regulations to make the level the playing field and to protect the people, too much of them can be stifling already.
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Maybe we should learn that in war all sides can be losing a lot and in our modern era there should be no space for war for any reason but sadly this is not the case all because while technologies got advanced to new heights human nature remains the same. In my own personal understanding, getting into war should only be done as a form of self-defense, nothing more nothing less. In our very complicated world, there is no more a black and while answer to anything and the more complicated we become the more we are making things confusing and in many case our very definition of the truth can be changing depending on which side you are in. Now, am just wondering what does this question got to do with cryptocurrency?
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There are now many countless stories of people who succeeded in selling their creatives as NFTs with some making millions. Of course, having a unique story or a background can help a lot side from the beauty of the NFT being sold. Yeah, many people are really wondering how can an ordinary piece of a picture - or even a picture of a rock - can command a high price in the market. Certainly, from a standpoint of many of us who are wondering how come there are many people who are willing buy a very expensive picture NFT, these stories can be amazing and truly unbelievable. And it can be because we can easily find and download for free similar images on the net. Well, can it because they are already metamorphosed into NFT...or maybe because there are undying hypes on the NFT industry? The exact answer is still scaping my mind. Maybe I should be making an NFT with me wondering why there are millions that can be made in an ordinary picture of an ape.
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I would agree that women would love tor receive precious gifts like jewelries or maybe even a car...but there can be something more special if you give them Bitcoin. Not only will they start to get educated on the potential game-changing features of this coin but they can be building on something that we project can be more valuable into the future. I am then 100% supporting your intent and your desire to spread more awareness for Bitcoin in particular and cryptocurrency in general. How lucky are those women who can get something really valuable from you. So go for it and make things happen.
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With the way am seeing things right now, I would fully agree with Mike Novogratz the Bitcoin's price can be ranging between 30K - 50K within this year though there can be a big possibility of it breaking out of the 50K zone maybe in the third or fourth quarter of the year. Yes, there seems to be an increasing interest of people most especially the younger generation with Bitcoin and this can certainly be impacting the whole cryptocurrency market not just in 2022 but also in the coming years as well...this is actually a big trend that can make things better for the industry. Other developments like inflation, the war and the possibility of recession in 2023 may also be affecting the mood of the market. As of now, am already discounting the impact of the pandemic in the overall picture. Now, the biggest question I have in mind is this: Will there be a big bullrun in 2022? And on that...I would only say I am hoping there can be.
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In the first place, there is no reason why we have to listen of any analysis especially coming JPMorgan, a big financial institution that was once a big enemy of Bitcoin in the first place. Had we listened to Dimon in 2017 then most probably we are not anymore here in the cryptocurrency market. These people are so biased and I don't think they have a clean credibility to start with. Just because there seems to be an increasing interest with stablecoins does not directly mean the cryptocurrency like Bitcoin will now be on the sideline...remember that stablecoins are not actually giving us the best ROI in fact they are more like what banks are providing and they are there for a big reason like a cover in a storm but they are not the ship (the ship is BTC, etc.). Now, this is just my humble opinion and not a financial advise.
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