And other digital currencies will enjoy the ride. Coinbase is about to launch the first licensed exchange in the US. This exchange will not only allow US funds to be brought into the scene openly, but it will guard US investors from hackers ultimately bringing in a lot of the people who are still sitting on the fence. It still amazes me how many people say, "Bitcoin? Isn't that illegal or something?" I mean, seriously, one in every five people I talk to face to face about cryptocurrencies says that.
That is really sad. It shows just how good the powers that be are at propagating false information. Coinbase's new exchange, thought to be called "Lunar " has the blessing of over 50% of the United States, including New York. New York has done more damage to Bitcoin's adoption in this country than any other entity.
This is a really monumental day. With Bitcoin's US adoption looming just hours away, we are likely to see some pretty huge pops in Bitcoin prices. Sure, these will be short term, but I really believe that the hype of the US people is unlike the hype of the world. When the US gets excited about something, they really get excited. So, I don't think these ups are going to go away soon. I think we are going to see an overall rise in Bitcoin prices. As the coin gains mainstream adoption in the US, we are going to see demand increase dramatically.
However, as we all know, Bitcoin is naturally disinflationary. In fact, it's probably the only thing that will genuinely tell the US people, "No, you can not have more of me, no matter how much you pay." That fact alone will be enough to drive the hysteria. The people of the United States can not STAND shortages of any kind.
Bitcoin will not be the only coin to enjoy a healthy pop in popularity. This rise of prices in Bitcoin and Bitcoin cash will herald a golden age of Alt-Currency trading. With regulatory agencies approving of digital currencies, it's only a matter of time before "Isn't that illegal?" becomes, "It would be a crime to miss out." Once digital currencies are shown to be as profitable (and even more so than they have been) to the American people with the blessing of state governments, people, I promise you....
Bitcoin will go to the moon and the alts will definitely enjoy the ride.
Then again, that's just my2btcents.
Image Source: today-news.com/img/article/805/30_main.jpg
Source: https://www.bitcoingg.com/coinbases-lunar-becomes-first-us-regulated-bitcoin-exchange/