Crypto took a breather today as most top coins are down 5-10%. All in all, it’s been a pretty solid stretch since the beginning of the year. Most alt-coins are having an incredible 2019, and bitcoin is off to a great start. Nothing goes straight up in line, at least not normally, so the real question is whether this is a healthy pullback or the re-emergence of another leg lower in what’s been a 16-month bear trend.
Without question, spirits are running higher in the space than over the holidays. What people forget is that aside from the spectacular moves in the market we see day-to-day, there is so much happening beneath the surface both on the technology side, as well in blockchain finance.
You look at the Coinbase announcement yesterday that they will be permissioning a Visa debit card in Europe and the U.K. This is a neat story. But, truth be told, it’s not the first of its kind, by any stretch of the imagination. My friends and clients at Ternio have built a similar apparatus, and so have many others in the space – both here and abroad.
Yes, you can spend your crypto.
This isn’t just a slogan; it’s a reality. Crypto is penetrating the real economy as a type of currency of sorts. It’s early, of course, but it’s also becoming a feature of the new global and digital economy.