Communist Party Elections and What It Means for Cryptocurrency's Future
Let's talk about China.
It's not as though we haven't all seen the massive erosion of the cryptomarket cap with the erosion of China, right? The question that I had as China shut down ICOs and forced exchanges to halt businesses is this: Why would China give up on the future? Giving up on blockchain technologies is like saying the cassette tape player will last forever; you're purposely cementing yourself in the past. This is why most analysts believed that China will be reopening its Cryptomarkets after establishing a working strategy for them to have a more control the Cryptomarket. In other words, the ban was a huge FUD.
Now that the Cryptomarket has made it all the way back to its pre-ChinaBan, we should try to see when exactly the Chinese government will open its cryptomarket back up, and which coins would benefit the most when it does.
NEO, ETP, GAS, or What?
I've read some investment papers that say GAS will be the new Ethereum, citing the limited amount of GAS and NEO available as reasons to believe that GAS will be hitting $100 as more companies start building on the NEO platform. However, this paper failed to mention Metaverse ETP, which is being marketed as an easier to use NEO that is dedicated to Asian markets (read - full Chinese language support) and features Civic-like security features and business-to-business blockchain connections like Chain Link. Now, I am not sure as to whether NEO or ETP or GAS will get the ultimate backing of the Chinese government, but I hold a lot of NEO right now and my bet would be on NEO.
So what does the Community Party Elections have to do with this? It's happening next week, October 18th, and five of the previous governing members are stepping down. Xi Jianping will probably still be the leader of the party. Here's the kicker - these elections are the perfect time to support Cryptocurrencies, as China looks to elect younger and more tech-saavy members into their 7-person governing council. Expect a lot of hype in the coming days surrounding China opening its markets back up - I predict 6.5k BTC prices before the 10/25 BTX Hard Fork even if China doesn't open back up by then, but if they do, as you all like to say, "TO THE MOON".
AdEx might also be a good investment, as it is built on NEO tech and has constantly grew together with NEO's priec increase.
imgsource: Cryptocoin Mastery
@monogrande, where have you been!
Welcome back dude, and thank for the great article. I'm personally betting on ETH right now with the upcoming updates, but think NEO is a solid choice as well!
Glad to be back, I was reeling from the loss last September, but got my footing so hopefully I have a bit more time to publish!
O man what happen if you don't mind me asking.
Oh, I'm just being dramatic about the $3k I lost in Alt coin investments :)
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