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Five Reasons the Bull Market Is Sustainable - CRYPTO FRIDAY

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Five Reasons the Bull Market Is Sustainable - CRYPTO FRIDAY

Fabian Klauder
Feb 19, 2021
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Five Reasons the Bull Market Is Sustainable - CRYPTO FRIDAY

newsletter.defitimes.io

Hey DEFI TIMES community,

2017 was pure speculation.

Let's face it: Most ICOs were worthless, and nobody was even thinking of DeFi at this time - Unsustainable price action.

Boy, things have changed. Today, we have DeFi, institutions, and cash-flow-producing assets. This time, the price action might be...sustainable.

1. Elon Musk is a Bitcoiner

Twitter avatar for @elonmusk
Elon Musk @elonmusk
In retrospect, it was inevitable
8:22 AM ∙ Jan 29, 2021
614,510Likes59,684Retweets

The richest man in the world is aboard. Let that sink in. 

"I do at this point think bitcoin is a good thing, and I am a supporter of bitcoin."

"I think bitcoin is really on the verge of getting broad acceptance by conventional finance people."

If there is anyone in the world whose opinion matters, then it's Elon Musk. Elon is the role model of every almost every entrepreneur in the world. Why? Because of his vision, work ethic, and leadership. And Elon just made the biggest bitcoin purchase ever. 

Tesla bought $1.5 billion worth of bitcoin at an average price of $33,000. At this point, Tesla is up over 50%. Impressive.

2. The institutions are coming

Tesla's bitcoin purchase will lead to dozens of new institutions putting it on their balance sheets. Soon, CFOs and CEOs will lose their jobs for not investing in bitcoin. Why?

It is their job to maximize the company's value. It will be irresponsible for them to miss out on Bitcoin.

3. Celebrity NFTs

Twitter avatar for @MesutOzil1088
Mesut Özil @MesutOzil1088
A new chapter has begun 🤲🏼💛💙 To embrace the future & salute the past, I’m launching my first @genies NFT drop on Monday at 7pm ET / 1am CET on @niftygateway S/o @Bosslogic for the artistic collab - with proceeds going to @BigShoe_11
Image
1:07 PM ∙ Feb 11, 2021
67,674Likes2,161Retweets

In 2017, we had Cryptokitties. Now we have celebrity NFTs, and that's 100 times more powerful. Stars with millions of followers are launching their own non-fungible-tokens.

Millions of people join our industry, but they aren't interested in blockchain and DeFi per se. However, they will have to buy ETH to pay for gas. They will learn how Ethereum works. Bullish.

4. Currency devaluation

The USD is a weak currency. Central banks print trillions of dollars every year, and governments airdrop thousands of dollars to people in need. This is a joke, right? Sadly not.

The money in your bank account will certainly shrink in value. What will happen when people realize that bitcoin is a better store of value than the USD?

Institutions already noticed. Retailers are next.

5. DeFi is here

DeFi is not only here to stay, but it is here to disrupt our financial system. Unlike ICOs, DeFi tokens have intrinsic value. They are governance tokens, capital assets, and utility tokens.

We can replicate stocks on Ethereum, issue bonds, swap tokens, insure our houses, and so much more.

We replicate every type of financial service that traditional finance offers. Not only that, we can offer even more services because apps on Ethereum are composable. Tokens represent money legos. 

DeFi is not just marginally better than traditional finance. It's 100x better.


Subscribe to our newsletter to level up your crypto game!


Rai is live

Twitter avatar for @reflexerfinance
Reflexer Labs @reflexerfinance
1/n RAI is (officially) live! Let the money god rise and shine 🗿 medium.com/reflexer-labs/…
medium.comRAI is LiveAfter almost a year of testing, simulations and building, we’re thrilled to announce the launch of RAI! RAI is an ETH backed, non pegged stable asset whose monetary policy is managed by an on-chain…
1:49 PM ∙ Feb 17, 2021
352Likes101Retweets

Rai is an ETH-only and governance minimized version of DAI. While DAI only has positive rates, RAI can also have negative rates. Additionally, RAI will have native insurance. Check it out!

Bitwise DeFi Fund

Twitter avatar for @BitwiseInvest
Bitwise @BitwiseInvest
1/ Today, we're thrilled to launch the world's 1st DeFi crypto index fund! DeFi is an exciting, young, & fast-growing category. We hope this fund makes it easier for more to participate. Press release here: bitwiseinvestments.com/resources/pres… Below, a quick run-through of the details —
Image
5:30 PM ∙ Feb 17, 2021
289Likes79Retweets

Bitwise added a DeFi fund, which supports the following assets: UNI, AAVE, SNX, MKR, COMP, UMA, YFI, ZRX, & LRC.

Bancor Vortex

Twitter avatar for @Bancor
Bancor @Bancor
🌪🌪🌪 Bancor Vortex is live! 🌪🌪🌪 Here's how to use it and what you need to know: blog.bancor.network/using-bancor-v…
Image
5:07 PM ∙ Feb 17, 2021
412Likes118Retweets

The Bancor Vortex is live! Vortex allows staked Bancor to be used as collateral in order to mint vBNT, which can be swapped to other tokens.

Hex trust adds Aave

Twitter avatar for @Hex_Trust
Hex Trust @Hex_Trust
Hex Trust has partnered with @AaveAave, integrating Aave, stkAAVE, and aTokens into our institutional-grade custody platform, Hex Safe. We're also integrating the Aave Protocol within our new DeFi module. bit.ly/3jXNZts #Crypto #DeFi #cryptocurrency
bit.lyAave partners with Hex Trust to bring institutions to DeFiThursday 18th February, Hong Kong — Hex Trust, the institutional gateway to DeFi and Digital Assets, has partnered with Aave, an open-source and non-custodial liquidity protocol for earning interest…
7:10 AM ∙ Feb 18, 2021
11Likes1Retweet

Hex trust has added Aave, staked Aave, and aTokens into its Hex Safe. Don’t confuse it with the cryptocurrency Hex. The Hex trust is a crypto custody company.


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All information presented above is meant for informational purposes only and should not be treated as financial, legal, or tax advice. This article's content solely reflects the opinion of the writer, who is not a financial advisor.

Do your own research before you purchase cryptocurrencies. Any cryptocurrency can go down in value. Holding cryptocurrencies is risky.


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Five Reasons the Bull Market Is Sustainable - CRYPTO FRIDAY

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