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Analyst Benjamin Cowen is detailing a potential worst case scenario for Bitcoin and the crypto markets at large.
If this bearish cryptocurrency market structure plays out, the total market cap of all cryptocurrencies would finally reach a bottom at around the $500 billion mark, which suggest a Bitcoin price bottom of about $10,000 per BTC.
“This is something to consider. It’s the worst case scenario. I have no idea if it’s going to play out or not, but it’s something that everyone I think should consider when navigating the cryptoverse.”
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Show Notes / News Resources:
✔ Bitcoin Technical Analysis: https://bit.ly/3To5t3s
✔ Mt. Gox Bitcoin Dump Rumors Dismissed: https://bit.ly/3co2Myx
✔ Global Crypto Adoption Exceeds $320M Users: https://bit.ly/3QWPuI4
✔ Visa, Mastercard and Binance Partnership: https://bit.ly/3RgGbT1
✔ Bitcoin $10K Prediction: https://bit.ly/3QWPTKA
🔴 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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What is the Metaverse?
Metaverse is a virtual world in which users create and interact with avatars. It can be accessed through virtual-reality headsets. These virtual worlds are “decentralized”, which means there is no centralized authority. This type of network is a great fit for blockchain technology, which allows networks to function without central control. Metaverses use crypto-asset protocols to make it easier to create and manage content. These crypto-asset protocols can store ownership rights and non-fungible tokens.
There are two companies that are putting big money into the Metaverse: Facebook and Microsoft. While they are still in the early stages of their development, it is possible that a dominant player will emerge and capture the early network effects of the Metaverse. This could be very worrying for Facebook investors. After all, they are spending $10 billion on this startup.
Developing a metaverse requires several key technologies. Virtual reality and augmented reality are important. These technologies improve digital content and avatar creation. They also support multi-lingual services and security. In addition, artificial intelligence enhances avatar creation. These technologies allow for a rich social experience in the virtual world. Ultimately, the metaverse is about creating a social and collaborative environment.
Another platform that has proven popular among users is Sandbox, which allows creators to build virtual worlds. In addition, the company has partnered with popular NFT brands and companies like Coinbase. The Sandbox website offers daily updates of new games. It also has instructions and a demo game generator.