Technology Topics

February’s Bearish Outlook Of Bitcoin Charts is Temporary: The Crypto Industry Is Heading to the moon!

The cryptocurrency industry is receiving a lot of attention these days, especially from venture capital firms. These big guys are investing large sums of money into startups that work on projects related to bitcoin billionaire software and their blockchain network.

The fact that the Bitcoin charts have a bearish outlook presently is just a temporary setback. In due time, newer, more extensive projects will be launched in the ecosystem, and you’ll realize the short-term price action was not worth the stress you put yourself through.

Typical questions you’ll hear novice crypto enthusiasts ask based on the current trends in the Bitcoin market include:

  • Has the current BTC run peaked, or is it still not done moving and could still reach more heights? and
  • What’s the current state of the market, bullish or bearish?

Experts, on the other hand, are not bothered about the answers to this. Instead, they’ve gotten to work buying equity in blockchain startups with the best potential.

Here, we’ll discuss the major investment and funding moves in the blockchain ecosystem since the year started. We’ll also touch on Jack Dorsey’s scathing critique about Meta’s plans for the Metaverse. Dorsey may as well have been taking a shot at Mark Zuckerberg when he said that. It seems there’s a new company in the crypto world that has committed itself to market BTC payments better for the payment of salaries and wages.

Therefore, instead of forgetting yourself in the bull and bear discussions making the rounds in the industry at the moment, you can take preemptive steps to make sure you’re not burnt in the long run. The bearish outlook of the price chart has caused many traders to take the shortcut out. In this growing crypto ecosystem, it’s high time. Traders and investors understand that proved charts alone don’t matter that much anymore. Hence, it is best not to allow doubt, uncertainty, and fear to take you to the bottom.

Oh, and a quick piece of advice to you is that you should try as much as possible to make sure Micheal Saylor gets nowhere near your digital assets (trust me). Now for the full breakdown!

Fireblocks Announces a $550M Series E Raise

Let me guess, the first thing that came to mind is whether Series E funding really exists in the blockchain industry. The answer to this is yes, obviously. A few crypto companies have risen to the challenge and are going further to expand their operations. About three years ago, you would hardly find a company making it to the Series C level.

Fireblocks has succeeded in selling its vision to global investors. This latest raise increases the startup’s valuation to $8 billion. The Fireblocks CEO, MichealShaulov, told CoinTelegraph that the blockchain industry is still in its early stages. Fireblocks are going over and beyond to make sure they play their part in shaping their niche in the large enterprise. He added that the recently received funds from the VC backers would scale up the firm’s operations.

Phantom Announces a $109 Million Raise

Phantom is another crypto firm making considerable waves in the industry. The cross-platform wallet is the leading cryptocurrency wallet on Solana’s blockchain network.

This recent funding round brings Phantom’s total valuation above $1 billion. And the platform isn’t even close to being done.

Phantom has about 2 million active users on its Solana-hosted system. Still, the team has disclosed their plans to move beyond Solana to create DeFis and NFTs projects for the rising decentralized finance community.

Critiques of Jack Dorsey on Meta’s Failed Stablecoin Project

According to Jack Dorsey, Twitter founder, Metaverse made a mistake trying to establish a centralized stablecoin project. Being a crypto enthusiast himself, Dorsey said it would have been better if the Zuckerberg-led brand had focused on creating projects to make Bitcoin more accessible to global users. This statement comes a few weeks after Meta officially pulled the plug on the Diem stablecoin project.

Companies On the NYDIG platform, employees will now be paid in Bitcoin.

NYDIG, short for New York Digital Investment Group, has finally introduced a Bitcoin Savings Plan to member companies. These firms can pay their workers all or a portion of their salaries in cryptocurrency, specifically Bitcoin.

With this development, workers can now stash crypto by saving a portion of their salaries.

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