The Clarity bill has been pushed back again to September. Put simply, it’s still a game of tug-of-war among different parties. Don’t rush to treat regulatory expectations as an assurance of a rally in the short term. The market will most likely continue to yo-yo and grind on. But seen from another angle, dragging it out may not necessarily be a bad thing—when market sentiment has been suppressed for longer, any real progress later is more likely to trigger a concentrated breakout. From a long-term perspective, the clearer regulation becomes, the lower the barriers for big capital to enter, which is ultimately a positive for the market. What we fear most isn’t that there’s no news, but that news comes and you’re not ready.
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