The Crypto Market Is Still Bullish — Here’s Why
The crypto bull market is still in play.
You might be thinking: “Steve, are you blind?”
I get it…
Last week, the crypto market touched down nearly 50% below all-time highs.
That includes a 25% decline in 2022 alone.
But in reality, that is NOTHING in the grand scheme of things.
Seasoned crypto investors know that pullbacks are part of the process.
Since 2017, the Bitwise 100 Index has had six drawdowns of more than 25%.
Each drawdown has resulted in new highs and turned out to be a buying opportunity.
I can’t see why this time would be any different.
Pay Attention to This Trend
The most important thing to pay attention to now is the continuation of this trend.
We’ve been in a consolidation phase since 2021.
But as you can see below, cryptos have been making higher lows and higher highs.
To me, this indicates the crypto market is still bullish.
Charts are important. But they don’t tell the whole story.
And right now, there’s another trend brewing.
The Crypto Payment Boom Is Here
Small- and medium-sized businesses (SMBs) are lining up to accept crypto as payment.
A recent study conducted by Visa showed that 24% of SMBs plan to accept payments in crypto.
Crypto has the potential to save SMBs loads of money, so this number will move higher over time.
By opting for crypto, businesses can bypass hefty credit card merchant fees.
These fees typically range from 1.5% to 3.5% of a transaction’s value.
In many cases, SMBs don’t have the same pricing power as larger firms.
So, it can be hard to pass on merchant fees to the buyer with higher prices.
Using crypto to avoid fees entirely can solve this problem.
Considering there are more than 200 million SMBs globally, payment acceptance will be a huge catalyst for crypto.
My colleague Ian King can help you get exposure to the crypto payment boom.
He’s guided his Next Wave Crypto Fortunes subscribers to huge gains like 1,934% on a half position in four months and 18,325% on a quarter position in 12 months.
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