Things might be looking bleak now – but I found lots of news that points to a healthy future for crypto. The crypto industry is definitely not dying. There’s planned bitcoin hype-fueled buys, strong partnerships, and even new mining equipment manufactured by huge mainstream tech companies. I think we’ll see a nice pump starting during Chinese New Year, and that should snowball into a nice recovery. But, of course, any kind of major FUD could thwart that.
Bitcoin Buy Hype in China
There’s the theory that many Chinese nationals moved money away from crypto to buy presents for Chinese New Year. But, alternatively, it looks like many exchanges are going to try to encourage bitcoin buying for the holidays.
The atmosphere is ripe – Chinese residents are now banned from using any non-China-based crypto exchanges. Now Chinese crypto exchanges are capitalizing on the ban by offering welcome discounts that you probably wouldn’t believe. For example, in Hong Kong, the AsiaNexgen exchange is giving away almost a hundred thousand dollars in BTC discounts. The thing is, these bitcoin buy offers aren’t just on some site’s ad banner, there are employees standing on streets wearing attractive clothing handing out paper wallets with the BTC vouchers! (Of course, would you really trust a private key someone made for you? 😛 I’m guessing some of the passerbys don’t know of the dangers.)
Now that Chinese residents aren’t allowed to use any other exchanges except China-based ones, they’re forced to look to these promotions if they want to enter or stay in the crypto world. This kind of crypto promotion during the Chinese festivities could cause more crypto buying activity, which could revitalize BTC and alt prices.
Crypto Partnerships With Mainstream Money Services
Crypto’s starting to see more adoption into mainstream society! MoneyGram announced that it’s partnering up with Ripple (XRP) for faster, easier transactions with super low fees. MoneyGram and Western Union are the two major money services people use to send money both nationally and internationally.
According to financial reports, MoneyGram has a net revenue of almost 1.7 billion dollars. That means it’s moving billions of funds through the world. If XRP successfully integrates with its system, crypto will be part of those billions-worth of transactions. That would mean XRP buys and sells for each transaction!
Ebay might also be adopting crypto into its payment system – so we’re seeing some surges in crypto adoption.
Samsung Now Making Crypto Mining Equipment!
This is a rumor of a rumor, but anonymous Samsung employees have leaked that this tech leader has partnered with a Chinese crypto mining company for the mass production of ASIC chips. Most coins aren’t ASIC-resistant, so utilizing these chips in mining rigs can give these miners a significant advantage over custom-built rigs that use traditional GPUs and CPUs.
But that’s not all – these anonymous Samsung sources have also whispered that Samsung may have more partnerships with other crypto mining companies. They say that mass producing crypto mining equipment is now taking up 60 percent of Samsung’s operating revenue. That’s quite significant – it means Samsung might be moving toward a significant direction into the crypto industry and taking its billions in revenue there too!
Crypto might look bleak right now, but it’s definitely going to see a nice surge by the summer!