Sorry for the epic title, it's more of a clickbait, but you'll not regret reading it.
June has been an eventful month for crypto, Bitcoin hit 31k, back and forth, hive hit 35 cents and now we seem to be dipping a bit.
However, the highlight of the month has been tradeFi and BTC ETFs Microstrategy seems to be buying BTC again.
The irony of this situation is that Michael Saylor wasn't really a fan of Bitcoin from the beginning, and while he seems to be the PRO-est person in the crypto space at the moment, I still feel that the amount of Bitcoin Microstrategy might end up owning is scary.
All that money is in the hand of a single tech company, what if the man stops being a fan of crypto and decides to sell everything they've acquired?
Hard to imagine I guess
Of course, some people will say, "Oh others will pick up what he's sold", but from all Indication, MicroStrategy seems to be one of the biggest BTC whales, if not the biggest.
The impact of any potential negative action wouldn't just affect prices, it'll create a psychological downer, while it might eventually spread Bitcoin into the hands of more people, the dump might take a long time for the market to establish a balance again.
So, holding that much BTC isn't really too scary for me, what's scary is the amount of BTC that MicroStrategy might eventually accumulate.
the SEC has temporarily suspended their hunt and I think that they'll probably come with another wave of FUD for July.
Gary Gensler hasn't been in the news for a week or more now, I have an inkling that the man might just be cooking something in the shadows.
Joe Biden has proven to be a pain, he reminds me of the Nigerian president that just left office.
The similarities between these two people are that they feel that crypto was and is still the reason why we have things like recession, unemployment, or unfairness in the tax system, or why fiat currency might be losing its sting.
I just feel that prospective or futuristic electorates, whether in the US or any other country, should take into cognizance to stop voting for people who are not progressive or understands the rubrics of technology and change, it's generally bad for the world, for Crypto, and for adoption.
Sadly for Nigeria, they just voted for another incapable oldie that has tanked the economy in just one month of resuming office, it's always about power, control, and rigidity and not giving back freedom to the people.
Away from this, I want to talk about tradeFi.
While I'm not really certain about how Bitcoin ETFs would pan out, I feel that the news itself was what have crypto the little boost we've seen in the last week.
So the question everyone has been asking is, "Is tradeFi going to drive the next bull market?" I don't really know, but it's probably going to be a catalyst.
Irrespective of this, I still feel that we'd have to wait till next year before talking about proper bulls. The last bull run ended with Do Kwon and Luna, I'll say it ended rather unexpectedly, maybe because of this, the bull market might fully get into a rampage at least towards the end of 2024, I can't tell.
However, no one can exactly predict the bull or bear
When the halving happens next year, we might be hit with a different vibe, however, I do believe that when the BTC halving happens next year, the narrative might change.
no one controls the bull or bear or where the market might swing. The irregularities of this cycle might just cause a different change from what we've been previously experiencing.
The only thing anyone can do at the moment is spent less crypto and accumulate more. In the past two months, I've taken on some jobs for pennies just to see if I can buy.
One thing I tell people is to never let the next bull run pass without significantly changing their lives for good.
I'm currently on the mend, trying to fix a lot about my life, a lot of things have happened, and I'm currently unstable in so many aspects of my life, but I still want to find the time to keep accumulating, after the next bull run, I'll take a much-needed break.
Keep accumulating, July looms already, remember to power up hive, and buy some Leo, BRO, or even BTC if you can. Good luck for July.
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