This News Is A Bullish Sign For Altcoins!

Crypto analyst Nicholas Merten says Hong Kong’s decision to allow retail investors to buy and sell cryptocurrencies is a bullish sign for the altcoin market. But the market will need more than that.

“Hong Kong’s crypto decision is something to celebrate for altcoin investors”

Hong Kong on Thursday reinstated individual crypto trading on selected exchanges, which could serve as a test case for China to roll back the 2021 ban on cryptocurrencies.

Similar to Merten, Tron founder Justin Sun interprets the development as a bullish sign. Sun said Hong Kong’s crypto move is “a huge step forward for cryptocurrency in China.” DataDash host Nicholas Merten says Hong Kong’s crypto move is something to celebrate.

Merten said in his latest YouTube post, “so the vast majority of participants can now start re-engaging in crypto. It’s definitely really good news,” he said. But Merten says Hong Kong’s move probably won’t be enough to trigger a bull market cycle.

Assuming Hong Kong is now paving the way for investment thanks to this individual investor, it’s likely [Hong Kong’un %1’i ] GDP invested in cryptocurrencies. This means a $3.8 billion investment initiative in the market.

But the question is whether this will lead to a new bull market. I will keep coming back to that point here. And to be honest with you, as we talk about Bitcoin’s halving event in a year, more Bitcoins will be removed from that. So I would say that this alone is not a sufficient narrative.

Kaleo reports that INJ took the lead after the latest developments

Derivatives exchange Injective (INJ) surpassed market giants in the week when Hong Kong’s crypto move was on the agenda. In his current analysis, Kaleo examined the latest movements of INJ against BTC and ETH. Accordingly, the INJ/BTC pair is successfully rebuilding resistance as support.

Kaleo then updates the chart, saying that the INJ/BTC pair could cool off for a short time after rising as high as 0.0003031 BTC ($8.23). According to their analysts, “INJ/BTC with a solid move so far. It wouldn’t be surprising to see some buildup here before a higher continuation.”

Kaleo also watches closely the price action of INJ against the US dollar. The popular trader says that the pair turned bullish after removing the diagonal resistance and retesting it as support.

Why is INJ price rising?

Injective recently announced its integration with (MATIC). According to the official announcement:

Injective is launching a groundbreaking integration with Polygon Labs to enable true DeFi formability. For the first time, the native assets of Polygon and Injective are available for various cross-chain use cases in the two ecosystems.

After the proposal was approved by 99.8% of community voters, Injective has also completed an upgrade to its Avalon network. The Avalon Mainnet Upgrade will provide the following features to the Injective infrastructure.

  • Powerful scalability optimizations
  • PoS (proof of stake) verification renewal
  • The fastest block times in Mainet.

Contact us to be instantly informed about the last minute developments. twitterin, Facebookin and InstagramFollow and Telegram And YouTube join our channel!

Risk Disclosure: The articles and articles on do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. does not recommend buying or selling any cryptocurrencies or digital assets, nor is an investment advisor. For this reason, and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.

Disclaimer: Advertisements on are carried out through third-party advertising channels. In addition, also includes sponsored articles and press releases on its site. For this reason, advertising links directed from are on the site completely independent of’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on and the pages directed by the links in the sponsored articles do not bind in any way.

Warning: Citing the news content of and quoting by giving a link is subject to the permission of No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of in violation of intellectual property law and relevant legislation.

Show Disclaimer

source site-1