It would seem that markets are playing a bit of up and down. A lot of it is purely on speculation o a Spot $BTC ETF getting launched which continues to get delayed over and over again. This has made Bitcoin itself swing wildly as one moment it seems the ETF will get approved sooner than later while the SEC continues to delay and say no.
Bitcoins Spot ETF
The chances of the current administrations is clear that they are hard against crypto and will do everything they can to stop it. So why anyone is hopeful of a spot bitcoin ETF while this loser and other losers are in office is beyond me. The 2024 election is going to spell what's really going to happen with crypto and means that we could have to wait until 2025 if the right people get voted and pushed in to get crypto into a seriously massive bull run.
Outside of that it may become difficult that a new bull run could be slow going or would require a whole new spark outside of spot ETFs. Otherwise it's going to be a bump but very possible slow growth of bitcoin in terms of price.
Ethereum Decentralization
Ethereum is starting to also take shape. The top validators are working with each other to impose a limit of 22% network authority for each. Which means these companies are saying they will at all times have 22% or less staked authority on the Ethereum network. This is mainly to help keep Ethereum more decentralized as more and more people and large time players in staking are simply dumping their funds into pools for either liquidity via new liquid staking tokens to use in DeFi or simply the ease of use instead of running a node themselves.
This is one of the major issues with proof of stake systems is the centralization that happens because people are lazy and care more about profits instead of learning how to run and manage a node themselves.
While a proof of stake systems sounds great on paper these staking pools cause major issues in eliminating the decentralization aspect.
Overall there's a good bit of news coming out in the crypto space. The issue however is that centralization of these systems do put the network at great risk if there are bad actors in control or perhaps some form of hack and puts it all at risk.
It looks like crypto is going to be in for a rather slow road for the next year to year and a half before we see any real main action again. That mainly stems from the news we currently know of. But just like DeFi and NFTs there could be something else in the works that all of a sudden gains popularity and skyrockets the value of all of crypto once again