The State of Crypto, ICOs and blockchain Q1 2018
- Posted by ico-check.com
The end of Q1 of 2018 was a trying time for many with the cryptocurrency market continuing to have more average lows across the board compared to the highs of December 2017 or Early January 2018.
The top 5 most popular cryptocurrencies based on market cap fell an average of 76.66% from their all time high during late 2017 and early 2018:
|Crypto Name||ATH Price USD||ATH Date||Current Price||Difference %||As of Apr 07, 2018|
|Bitcoin||20,089.00||Dec 17, 2017||6616.07||-67.07%|
|Ethereum||1,432.88||Jan 13, 2018||367.04||-74.38%|
|Ripple||3.84||Jan 13, 201||0.471231||-87.73%|
|Bitcoin Cash||3,909.00||Dec 21, 2017||605.69||-84.51%|
|Litecoin||375.29||Dec 19, 2017||114||-69.62%|
Whilst these top 5 coins do not make up the whole market, they are a good indicator of the motion of the cryptocurrency market as a whole and based on their prices we can safely conclude that we are in a bear market.
A bear market is not conducive for holding an ICO because of the general feeling of fear that affects the average ICO participant that can prohibit him from participating in ICOs.
In response, several ICOs have already moved their tokensales to later this year because a bear market is not a good time to hold an ICO.
In spite of the doom and gloom surrounding the cryptocurrency market, there is some very positive news on the horizon with several countries most notably Switzerland and Singapore laying the legal foundation for cryptocurrency.
In essence the groundwork for a stronger, legally compliant and more inclusive crypto economy has been laid which we believe is a very good indicator for the future of crypto and ICOs as a whole.
One trend in ICOs has been the growth in securitized tokens. This growth in ICOs having securitized tokens has been spurred on by welcoming legislation from several countries like Switzerland and Singapore and increasing calls from crypto investors for a clearer approach to the legal status of tokens or coins.
The ico-check team firmly believes securitized ICOs are a very welcome and positive addition to the ICO market.
Even the United States has taken notice and has started holding dialogue with leaders in crypto to find out how to regulate the cryptocurrency market in a positive way.
The future of crypto looks set to be even stronger than 2017 based on crypto gaining even more legal footing and even more people becoming more aware of the advantages of crypto. Crypto, ICOs and blockchain are still in its infancy and we believe this bear market will not last long since no one can deny its utility and application.
The time to buy is when blood is on the street and the ico-check team could not agree more, but this has to be tempered with caution since crypto and ICOs are not gambling or get rich quick schemes. Though it may be tempting to buy lots of coins or tokens at a discount thanks to the lower prices, you must know your appetite for risk and only put in money that you can afford to lose in good ICOs or cryptocurrencies where you have done good due diligence. Do not let the bears scare you away from investing in good ICOs.
The ico-check team believes that crypto has utility and applications far outweighing its current price and even the all time high hit during late 2017 and early 2018. In closing we are long term bullish for crypto.
Here's to a better Q2 2018!