By Greg Wilson, analyst, Palm Beach Daily
Since the start of the year, there’s been a lot of scary headlines coming out of the crypto markets…
Things like “Crypto May Be Worse Than a Ponzi Scheme” or “Bitcoin Is Just a Crappy Tech Stock.”
It’s nothing new at this point. But of all the anti-crypto narratives pushed by so-called experts… few send skittish investors running – or get crypto haters frothing – like a potential crypto ban.
For example, when China banned crypto mining within its borders, the price of bitcoin dropped as much as 9% in 24 hours.
And there were similar dips when China outlawed initial coin offerings, banned crypto exchanges, and curbed mining power in the country.
Of course, those bans didn’t kill bitcoin or crypto. And although bitcoin and the broader crypto market are down since news of China’s mining ban last November (mostly due to the “bitcoin is a tech stock” mindset)…
The bigger picture shows that these moves are just another small dip in bitcoin’s overall upward trajectory.
But if you’re still worried about an outright crypto ban in the U.S., consider this…
A Tailwind Is Forming in Crypto
In early March, President Joe Biden recently signed an executive order titled “Ensuring Responsible Development of Digital Assets.”
On a basic level, the order focuses on things like establishing policy around consumer and investor protections… tamping down on illicit activity… and encouraging responsible crypto innovation.
It also appears geared toward establishing a federal regulatory framework around things like crypto exchanges, treating cryptos like securities, and banking with crypto.
And the executive order tasked various agencies with exploring a U.S. Central Bank Digital Currency (CBDC). A CBDC is essentially a digital version of a country’s currency that exists on a blockchain.
On top of that, there’s separate amendment with the SEC that would change the definition of the word “exchange” to make it more inclusive… meaning any exchange that trades any type of security.
(Right now, the definition excludes cryptocurrencies.)
And that amendment could be approved as early as November.
In short, the U.S. government is doing the exact opposite of the negative “crypto ban” narrative.
Now, I know you’re probably not popping the champagne over an SEC amendment or Biden’s executive order… just following price action and volatility, crypto’s had a rough start in 2022.
But as Daily editor Teeka Tiwari’s chief crypto analyst, I regularly track crypto data overlooked by the average investor.
And despite bitcoin being down 35% versus this time last year… crypto exchange volumes (the amount of crypto changing hands) are 4x higher in that same amount of time.
Look at crypto exchange Coinbase…
Year over year, it has more than doubled its customers… from 43 million to 89 million today. Not only that, but its exchange volumes are also up five to six times over the same period.
Altcoins account for about 68% of that, which is a record high… And the remainder is split evenly between bitcoin and Ethereum, at 16% each.
That’s impressive.
When Other Panic, You Can Profit
Investors are trading bitcoin in record numbers… and the U.S. government is showing an interest in making cryptos as bankable as cash or gold.
But before you make any crypto moves, I have an important warning for you…
An event is coming that will shock the crypto ecosystem. And Teeka believes it will trigger an historic “crypto panic.”
This catalyst is on pace to become the biggest crypto event of the decade… And it’s guaranteed to happen. No matter what.
To help readers get ahead of this panic, Teeka is holding a special briefing this Wednesday at 8 p.m. ET.
During this briefing, Teeka will share his playbook for thriving and surviving this coming panic… giving you a chance to secure a lifetime of wealth and income when the panic hits.
In his words, “this investment could fund your lifestyle… your children’s lifestyle… and their children’s lifestyle.”
Click here to reserve your spot at Teeka’s big event this Wednesday at 8 p.m. ET.
You’ll learn all about this catalyst… including details that are being completely ignored by mainstream crypto haters.
I can’t predict how long it will take to shift the negative sentiment that follows crypto…
These narratives persist whether prices are up or down… and are almost completely disconnected from reality.
The easiest thing you can do is ignore them… and join Teeka for free this Wednesday at 8 p.m. ET to learn how this event can give you and your family a shot at generational wealth.
Regards,
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Greg Wilson
Analyst, Palm Beach Daily
P.S. As a bonus for attending Wednesday’s event, you’ll get the name of Teeka’s top cryptos to play the coming panic… absolutely free.
Teeka’s free picks have an average gain of more than 1,500%… so joining him could give you a shot at 16x your money. Click here to learn more.