Could Mobie hold on even in a bear market
We are on the verge of going into a BTC Bear Market, but likely this bear market might already have started in late November last year and it will then last to about December this year 2022.
It does look like a double top scenario for MBX, with the first top already in early spring 2021.
Some projects can pump in a bearmarket as well – Chainlink did, and some people think MBX can as well.
I would not bet on it though. Maybe we hodlers just have to keep up and keep on, but bearmarket or bullmarket a lot of investors will be flushed out because all crypto projects out there are simply not going to make it.
The one thing that does speak for Mobie Networks apart from the roadmap of 2022 is that it already has had a pretty steep correction. With the fundamentals in check it could hold up a little better than most other cryptocurrencies. There is still hope for SAITO.
The risk is very high at the moment and a possible outcome is a big stock-market crash that will cause the FED to print more money.
Also to get more crypto adoption the crypto community will need more than Tonga to adopt Bitcoin as legal tender.
To get the bulls back crypto would need states like Singapore, Switzerland, Panama, Ukraine, Argentina and Brazil.
Walmart going into crypto is bullish and so is the Microsoft purchase of Activision. The question is just what cryptos it is bullish for. MBX does business with TCG World that is Mobie Networks entry into the Metaverse.
Obviously the Russian bank wanting to ban crypto and the European Union wanting to ban bitcoin mining isn’t helping the market at all.
You never know in crypto though, every dip could be followed by a dip. If some other small states like Malta and Singapore goes the Tonga and El Salvador way we could at least get something of a relief rally. Another state that could help crypto come alive is Wyoming.
The correction is telling me, right or wrong, that people have overestimated the rate of crypto adoption and underestimated the old systems ability to fight back. Above all we have not seen any new small states (apart from Tonga) coming into the business and while companies in crypto friendly states like Switzerland, the Baltic states, Ukraine and some south American states have been making progress it has not been enough to keep MBX above 1 cent.
MBX then is not independent from neither traditional markets nor BTC and does need a crypto friendly environment to make it. So far, Florida, New York and Wyoming have not been enough to get MBX to the 10 cents we would like to see. The Litecoin community are working hard for their cryptocurrency, hoping for it to reach four digits, but for the moment two digits seem more likely. For the moment it is around 126 dollars per litecoin. If LTC would reach four digits 2023-2024 that could push MBX to 20-50 cents. Not financial advice.