A number of regulatory bodies are giving the OK to blockchain and cryptocurrency...

It's been an interesting few days. A number of significant regulatory bodies, such as the G20, the United States Congress, a number of individual states, and a few other nations, such as Korea and China, have been an expressing a more open, positive stance toward cryptocurrencies and blockchain technology.

The market has responded positively, but remains tentative. Outbursts of volume and spending have percolated through the market with small sell-offs sprinkled between. The question is, how much new money is entering the market and how much of the money is just moving around from USDT, for example?

The reality is, the market still feels a little over-priced for some assets. Many of the top 100 cryptocurrencies represent nothing more than an idea at this point. Working technologies are few and far between. Yet, it is this sense of taking a good risk - one that might pay off - that motivates such investment. The notion that one could get in on the ground floor, while a currency costs mere pennies or less, is enticing.

And the advancements are approaching rapidly. With relaxed regulation, we could well see the greatest advancements in blockchain technology in the next few months. So many innovations are taking place right now that will see utility before 2018 is over. With a free market approach from regulators, we could still experience a sort of wild west market for some time yet, but the bad ideas will fail, at some point, as investors and consumers decide what's worth buying and what isn't. The good ideas, the solid technologies with real-world application, will continue to grow, spreading into mainstream markets and everyday life.

It is this organic growth, brought about through healthy competition and permitted through the free market, that will bring about the greatest innovations. Allowing bad projects to fail and supporting good projects through the invisible hand of supply and demand - this is what will best encourage growth and innovation in the global economy.

*This is not professional trading advice - it's just my opinion!

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