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Popular crypto analyst Benjamin Cowen says three metrics indicate Bitcoin could see a price bounce in June.
In a new strategy session, Cowen tells his 746,000 YouTube subscribers the first metric pointing to a BTC rally is a correcting US dollar currency index.
“We know that the US dollar currency index, when it’s moving higher in a parabolic rally, we know Bitcoin goes down. We’ve seen this many times in the past. And furthermore, if we just simply pull it up, you can see that over the last several months, the dollar has been in a parabolic rally.”
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Show Notes / News Resources:
✔ Bitcoin Technical Analysis: https://bit.ly/3t8ChlH
✔ Russia Open For Crypto Payments: https://bit.ly/3N2LfsB
✔ Bitcoin Bullish Rebound: https://bit.ly/3NMod9h
✔ Bitcoin Parabolic June Prediction: https://bit.ly/3NKYpuf
🔴 DISCLAIMER: This is NOT financial advice. This is an entertainment and opinion-based show. I am not a financial adviser. I am not responsible for any investment decisions that you choose to make. Always do your own research and never invest what you cannot afford to lose.
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Is Blockchain Necessary for the Metaverse?
The real question is what is the role of blockchain in the Metaverse? In a recent report, Citi GPS estimated that there will be five billion users in the metaverse by 2030. Despite its potential, the Metaverse is fraught with challenges, including the risk of money laundering, counterfeit NFTs, trading scams, and a lack of regulation. However, big firms can benefit from their budget, clout, and level of data privacy.
According to analysts, the metaverse will be a huge economic force, with NFTs being the key value driver. A number of cryptocurrencies have jumped in recent weeks as investors grew apprehensive about the new technology. But while the initial hype has been hyped, the current state of the industry suggests that the real-world market is still a ways off. Some experts believe that the real-world market will reach $21.7 trillion by 2030.
As the technology continues to improve, companies can expand their presence in the new environment. Using a blockchain for the Metaverse can be extremely beneficial, and Facebook has stated its intentions to hire 10,000 people in the EU. While the technology isn’t fully developed yet, it is a promising start for the Internet of Things (IoT) industry. And while Facebook is currently hiring for developers, there are still many open roles available. For example, the new metaverse could include real estate websites, virtual concerts, and virtual meeting rooms.
Facebook is an obvious competitor to the community-run Metaverse. The social media giant has been hit with antitrust questions and accusations of spreading misinformation and division across cultures and countries. There are three main perspectives on Facebook’s influence on the Internet: from the economic, cultural, and social perspectives. Its continued growth will put the Metaverse at risk. In the long run, however, Facebook may prove to be an enormous boon. With that in mind, we should examine whether or not blockchain technology is necessary.
