Here at Sekuritance we don’t shy from tough questions, and this has been one of them. Our community asked and we felt obliged to respond.
We live in an imperfect (crypto) world. This means the price of practically all crypto assets moves in sync with the price of Bitcoin, the King of Crypto. We would all like to see that changing soon and witness a future where the price of various crypto assets decouple from the price movements of Bitcoin, and projects are valued on their ability to deliver.
Some projects are trying to work their way out of this of course. For example, Token Place, a next-generation trading platform which conducted their public token pre-sale in May, introduced two crypto tokens – The $TOK token which is their pure utility token, and $TOP, a security token tied to the valuation of the company. This makes it a far more reasonable proposition for investors because their digital asset is not floating in some crypto-valuation fantasy land but is tied to company valuation in a traditional sense.
That future where crypto projects are judged by their actual performance and not by the price swings of Bitcoin may not come that soon. This is why we are obliged to comment on the price prediction of Bitcoin every time we want to speak about the price movements of SKRT.
And what are the Bitcoin price predictions currently saying?
There are tons of indicators, new ones are being manufactured every month. We prefer to be pragmatic and focus on one or two with long-withstanding credentials.
Bitcoin’s Exchange Supply, an indicator we often consider, is at its lowest level since early January 2021, according to crypto analytics firm Santiment. The 6-month low is a promising sign, as it generally indicates there is a decreased risk of more major $BTC selloffs.
Another interesting Bitcoin indicator hit a 9-months low – The Exchange Fund Flow Rate, the total amount of BTC flowing in/out of exchanges divided by the total amount of BTC transferred on the network. When the fund flow ratio number increases, the market volatility rises as more transfers are happening on exchanges. When this number decreases, it suggests people are opting for OTC (Over The Counter) deals instead of using exchanges for transactions.
As we see, Bitcoin is signaling bullish outlooks and that could put us at some ease. Entire countries are adopting Bitcoin as their official legal tender. Some news comes with pomp and glitter such as Tesla Company starting to accept payments in Bitcoin. Other striking news may come in dull and boring hues such as 4,000 Institutional funds in Germany now being allowed to invest up to 20$ of portfolios into crypto assets’. Good news is still around for those who care to look. This brings us to the final point.
Markets panic. Builders build.
Markets have been panicking and moving back to reason since the Dutch Tulip bubble in 1637. We see no reason why it would be any different this time. We keep a vigilant eye on the markets, but we prefer to keep our focus on building. Delivering on our roadmap, bringing more clients and more partnerships. That’s why you’ve given your support to us. That’s what we intend to do.
Sekuritance has been profitable since Day One which is rare in the world of crypto. We onboard new launchpads, new tokens, new clients, and new strategic partners – and we are confident that we have what it takes to weather this sentiment storm.
The Sekuritance RegTech platform provides a single platform for every eGRC need, including end-to-end AML/CTF, CECL, FCPA, vendor management, beneficiary onboarding, investor check, card processing MFA checks, blockchain wallet checks, cyber-risk assessments, and other RegTech or Business Process Management requirements.
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