Crypto Briefing 3/8/22 - The Forecast

Crypto Briefing 3/8/22

Crypto Briefing 3/8/22

Bitcoin should see some stronger momentum into the end of March. We are still awaiting positive headlines for crypto, that will likely come with Biden’s executive order later this week. This executive order has immense potential for the crypto space, as government guidelines on crypto will encourage far more companies to become involved without risk of breaking regulation. We believe that biotechnology, semiconductors, and blockchain technology will be some of the most prolific innovations of this decade. The crypto market is still in an immature state, and reacts irrational to certain binary events. Once major institutions begin to make headway in the space we believe that this volatility will subside. Just today, Credit Suisse announced that it believes Bitcoin and cryptocurrencies will play a major role in the evolution of our financial system, and that this role will come to light sooner than later as a result of ongoing conflict in the east.

One of crypto’s most significant wild cards is XRP. The company Ripple has been embroiled in a lawsuit with the SEC on whether Ripple sold unregistered securities in the form of XRP. The outcome of this lawsuit will be a watershed event for the crypto market, and will shape the future of regulation in this space. We believe that this lawsuit has the potential to settle at any moment, and will have dramatic price implications for XRP. In a recent interview, the head of the SEC, Gary Gensler talked about regulation through the judicial system. In one specific section, he mentioned that the SEC would not win every case that they would bring to court, but would be willing to file certain lawsuits to help regulate companies. We are seeing a narrative being built in real time that is setting up a Ripple victory against the SEC. We remain confident that XRP will reach $10 to $15.