Crypto Correction: Bullish Developments & Starbucks' Bitcoin Integration

There is a ton of bullish news for crypto this week (for example Starbucks entering the crypto space) despite a correction that started over a panic over a Winklevoss ETF no one cared about until it was suddenly rejected again.

Starbucks is getting into crypto (accepting Bitcoin) in a partnership with Microsoft and ICE (the parent company of NYSE). That is insanely big news for adoption.

This venture is called BAKKT, it is an exchange type service meant to make transition between BTC and USD easier, it is not an announcement that Starbucks will start taking Bitcoin payments (although that could happen in the future).^[1]

Further, Square reported they saw increased earnings from Bitcoin and for that and other reasons their stock jump over 7% (tiny profits on Bitcoin, but profits).

Now consider the XRP-based exchange.

Now consider all the other potential ETFs coming up.

All really good news right? Indeed. Still, market cycles are a thing. And right now we are in correction mode. So that is what it is. Still, lots of reasons to be excited for the future.