Bitcoin’s current bull run that has seen it cross the $5000 line thrice this week has raised eyebrows with many experts thinking it isn’t genuine. More so these authorities hold the features don’t signify the market is out of one of the most bitter recessions in the history of Cryptocurrency.
In the opinion of these analysts, the fact that altcoins have double-digits in growth that are bigger than BTC’s gains doesn’t make the bearing healthy. Most of them note that there is no such historical precedence where it turned out to be a sustainable accumulation.
But Jeff Catalano, Founder and CEO of Payment Porte thinks otherwise and that there is more to the upward inclination and the market is going to be stronger in the coming days. It is his position the current bullish trends stems from the institutional money that is funnelling into the space and getting more comfortable with solutions of custody, wallet security, and regulatory framework that is in motion around the globe.
“Exchanges like Coinbase and Binance are investing a lot of capital behind these solutions, as well as supporting the new foundation of exchange, and stable coins (fiat),” Catalano pointed out. “Also, great projects like Stellar and IBM – World wire, Ripple and Cardano’s work towards Interoperability, and their efforts in assisting major financial regulation task forces, are bringing confidence to governments, Central Banks, and financial institutions to get in while the pool is getting warm.”
Will It Last?
Furthermore, Catalano thinks sustainability is a tough word to encompass today’s markets. He denoted:
“There are two sides to the coin. (no pun intended) The first is that this massive treasure chest of fiat capital that has been sloshed around the stock, and bond markets for many years, artificially inflating those markets with stock buybacks and near zero per cent interest loans for the inner circle, is coming to roost. They are finally looking to digitise the game and potentially a reset of the past debt in a jubilee of some sort. But in the meantime, the flood gates are opening up into the virtual financial asset space.”
He indicated that on the other side of that sustainable coin, there is a resilient, peer to peer community worldwide of diehard believers in decentralised platforms and transfer of valuable assets, that should be less inclusive of the current financial system. This community will again start to gain confidence and invest more of the retail monies into, and real projects that they have seen grow from behind the scenes while the significant whale capital was absent from the markets.
This, Catalano thinks will continue to fuel the bull, and push new startups and solid projects with the vision to the public arena, and new exchanges through IEO’s and other public access inclusion to investment.
“Hopefully, this ‘We the people’ capital can maintain a balance with the seemingly manipulating, institutional traders, fiat-crazy- train, that we have witnessed in the precious metals daily fix, and stock market run-ups to all-time highs,” the CEO observed.
Catalano further stated that his team at Payment Porte and PORTE token, for instance, envision a near bull market future, where there are a divergence of different tiers of markets and accessibility, from governments, central and commercial banks using these assets to hedge, trade/scalp weekly short/long position gains. “Financial institutions and money transfers will use fiat pegged stable coins to move value and liquidity across borders, while the OG cyberpunks, developers and P2P community continue to trade content, share, earn, and transfer digital value amongst themselves, he emphasised. “Welcome to the present future!”