At the consensus 2019 conference, one thing that dominated the whole occasion was optimism. Every crypto enthusiast was optimistic with all the speculation that the token prices were set for a massive surge.
Expectations Shuttered
The case with cryptocurrencies is that most expect mass adoption to take place. Therefore, there are many expectations in the crypto space with a lot of rumors already surfacing for a mainstream crypto acceptance.
Moreover, some of those expectations emerged during the New York Consensus conference, where a lot of crypto enthusiasts were looking forward to a plethora of significant companies getting into crypto space.
Unfortunately, all those rumors were debunked and crypto enthusiast left deflated. Reason being, the major companies such as trading platform TD Ameritrade Holding Corp. and EBay Inc. officially dished all the rumors linking them to accepting crypto.
The Catalyst for the Crypto Rally
To start, the rumor of big companies such as the e-commerce giant eBay embracing crypto (accepting BNB to be specific) was believed as being the catalyst behind the recent bitcoin rally.
As a result, the whole crypto community across the globe got excited of such a massive step towards the crypto mass adoption. However, now, the entire scenario turned groundless.
Fiat all the Way
It was expected that TD Ameritrade Holding Corp and eBay were to adopt cryptocurrency as a mode of payment. It all started with a tweet bearing the statement:
“Virtual currency. It’s happening on eBay.”
At that time, as it is always, it was nearly impossible to distinguish the mere rumors from real news. Roshan Mirajkar, a co-founder of trading network KoinStreet, also confirmed that the rumors could not be confirmed.
eBay went out to deny the rumors with its spokesperson stating that cryptocurrency is not accepted as an option for payment on the eBay platform leave alone even being on its payments strategy.
Still, the Adoption is On
Some recent reports indicated that several other traditional significant companies such as Whole Foods and Starbucks are already accepting Bitcoin and various cryptos, although the latter is doing it off the official books.
All of these are also believed to be part of the reason for the rally. Nevertheless, although there have been some disappointments, one thing is for sure, crypto mass adoption is poised to take place (sooner or later) but when that happens is something only the time will tell.
Disclaimer: Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.