Photo Credits: Mining Journal

This isn't financial advice, I am sharing my thoughts and opinions, please do your own due diligence.

We have a saying in the Caribbean, "the noise in the market isn't the sale of fish". Most of us are familiar with the terms FUD and HODL but emotions can get the best of us. Cryptocurrency trading epitomize emotional exuberance, being primarily a retail driven phenomenon the ebbs and flow of the chart document the mood of the crowd. There are a few prominent figures, some refer to them as experts sharing their thoughts on popular social platforms like Twitter, Reddit, Medium and Telegram. This market cycle has presented a few challenges for market participants and the mood has been low to negative as portfolio's continue to decline. The recent EOS mainnet release was met with harsh criticism as its governance model struggles to gain approval. Within the cryptocurrency space we have a group of folks known as Bitcoin maximalist, a very noisy bunch, if its not Bitcoin its a shitcoin. If you get caught up in the circle "circus", you even sell Bitcoin if its not trading base on their narrative. I urge folks, do your own due diligence and take insights with a grain of salt, likewise my piece here.

Why am I ignoring the FUD, HODL Steem, EOS and Bitshares

--> China, China, China, China!!!!!

The Chinese market is to big to ignore and the sheer affluence is enough dominant any financial market. I would emphasize again, the noise in the market isn't the sale of the fish. So while those maximalist would take to Twitter, Reddit or Medium to voice their disgust influencing the weak hands, the shakers and movers of the market haven't given in to the criticism. In fact round two rating of China Center for Information Industry Development (CCID) reports ranks EOS as the number 1 cryptocurrency in the world. EOS, Steem and Bitshares received the highest of technological capability scores. It was a first time for EOS, and consistent ranking for Steem and Bitshares.

Why is this important
China cryptocurrency ban means that much of the cryptocurrency trading has gone underground and banking movements of these movers and shakers are closely monitored. However, the development of blockchain and enthusiasm is very much alive with the government increasing giving positive signals. Its a matter of when, not if, that the government would reverse its ban. If you follow the developments in China, especially engagement abroad, the Chinese are dominant players. They are ambitious, simply banning does not fit global appeal and they would definitely want to capture the enthusiasm of this youthful global phenomenon. These reports give a scope of the view of the shakers in the market. More importantly, EOS, Steem and Bitshares have actual products. Steem in particular is budding with innovation with DLive and Dtube, these two are probably the most underrated aspect within the cryptocurrency space.

I would close with this, hopefully the goosebumps are activated, we are talking about the second largest economy in the world and one of the largest population in the world pumping millionaires by the day. It would only take 1% demand and use case for EOS, Steem and Bitshares to jump in value. As usual take my thoughts with a pitch of salt. I am excited about Steem, if Steem can enjoy the popularity of WeChat in China, it can easily rank within the TOP10 in the world.