This week uncertainty began to wean away as countries are now adopting crypto currencies and making them mainstream. It all started with the Federal Reserve Bank of New York making plans to adopt crypto into banking institutions. If that news did not help the crypto market it was announced that Indiana will legalize Crypto but with a 30% tax. The tax is still being debated as the people of India are trying to negotiate, or push, the government into having a lower tax. Then today as many have been uncertain about Russia the government has just announced they are going to regulate Bitcoin and other Crypto Currencies in an effort to gain revenue from the Crypto Market. They are estimating that they can raise 2 Billion a year in tax revenues while still letting people make a profit on their coins.
Shiba Inu has Overtaken FTX as Biggest Coin by USD Value Among the Largest ETH Whales https://t.co/cYczTI4gHO
— I Love Crypto (@TheQuestEmpire) February 2, 2022
Why This All Matters?
The main reason that the crypto market has been stalled as of late was uncertainty on what would be legal and what would not. This is welcoming news to all communities invested in Crypto. Shiba Inu should get the bounce from the rise of the rest of the market but also they are about to announce big news they say will “BREAK THE INTERNET” anytime now. This announcement can come as early as next week.
We are on a precipice of a new dawn for Cryptocurrencies as the fear and doubt will no longer be there. This could increase the Market Cap in crypto 2 times or more according to many financial analysts. Only time will tell but this weekend is going to be a big indicator if we can see Green Candles lighting up the boards.
SHIBA INU Needs to get past the resistance of .000023 to start its climb to the top. If this happens this weekend SHIBA INU will prove to people that SHIBA deserves to be in the top 10 Crypto Currencies and is no longer just a meme coin. From there the upward trend would continue.