Two Fascinating articles this week: Two Countries (Switzerland and Venezuela)...and ICOs
Hi everyone, I hope this post finds all of you well. After 5 consecutive posts of Litecoin, I’ve decided that’s enough of that. I’m getting bored of the same news. However before I embark on another ICO, wanted to take a small hiatus and share two fascinating articles that I read over the last few days. Two countries with their own perspective on cryptccurrencies.
Wall Street Journal article – Switzerland wants to be the Cryptocurrency Capital of the world
• This article came out over the weekend, April 28, 2018. My first initial glance at it was …surprise. I didn’t realize that Switzerland was such a hotbed of blockchain technology, but I was immediately floored by the data and statistics to back all of that up.
• According to the article there are 100 blockchain/ICO startups in Swiss right now
• Four of the largest ICO in 2017 were Swiss based…What???? Yes. (Tezos - $238M, Bancor- $156M, The DAO - $142M, and Status - $95M.
• What was also interesting from the article was that the Swiss Banks are dwindling while ICOs are increasing
• The Swiss regulators are on board with Cryptocurrency as well and are open to working for startup firms that are employing cryptocurrency.Venezuela’s ICO = Petro, where Venezuela is offering India a 30% discount on Venezuelan Oil if it uses Petro.
• This article was generated on Business-Standard, however, I’m struggling with determining if this article is legit or not.
• Petro, Venezuela’s Petro is real, and would be considered the first sovereign ICO backed by oil.
• However, many of the issues about Petro is what’s wrong with the Venezuelan Fiat currency, VEB (Bolivar).
• I think Petro is a non-starter, mainly because it’s the government’s last stand as its currency is deteriorating.
Petro is not decentralized (rather centralized by the government...which goes against the premise of ICOs.
• However, what it does say is that governments see some legitimacy of the ICO space.
Key Takeaways:
• Not much to say this week.
• I think the recovery on ICO has been great! However are they poised for some correction? Maybe.
• Bitcoin is back at 9,300, Ethereum is back at $680, and Litecoin is back at $150.
• For those that are worried and did by back 1 month, ago….might be time to trim some of that profit and take some chips off the table. So that you’re not regretting if a sell off occurs again….because it will.
• I would say take 10-15% of your profit and shift it to cash for now. And hold on to it for another rainy day….
• I’m looking to trim Bitcoin at $10K, Ethereum at $700 and Litcoin at $170. Not sell all of it but take some of my profit and move it to cash for now.
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Great news if a bank capital like Switzerland are investing in blockchain.
Hey nice finds there and good food for thought. I think litecoin just needs a bull market to start on the real rise again and a bit of Early Majority FOMO and it should hit 400$
Good advice on the profit taking at this point too. A little correction would be good to strengthen some support levels and get the bulls running for real this time with the nice weather and tax returns.
Thanks again for the goods.
Thanks. I'm always fascinated with the market dynamics of investors. Sometimes it just seems very irrational....we'll see if Litecoin hits $400....If that were to happen, I can only assume all of the other major ICOs are up materially as well. I've taken a more basket approach to mitigate selection risk.
I am fairly certain everything should rise from where it is now and Litecoin will have its day in the sun. As we creep towards early majority adoption, it will be bitcoin that breaks the surface, and Eth and Litecoin will be right with it as the big boys.
Longer term? Who knows really. Definitely over $400 for litecoin this year. Larger gains for the next in line (EOS?), and some will eventually die (Hopefully ripple!).
Nice! Upvoted!
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Thanks for the feedback. Hitting you back!...and following you now....good luck and good hunting.
Great article, thanks for sharing. I've smashed the upvote button for you!
Also, if you are looking to get some tokens without investing or mining check out Crowdholding (https://www.crowdholding.com). They are a co-creation platform were you get rewarded for giving feedback to crypto startups on the platform. You can earn Crowdholding's token as well as DeepOnion, ITT, Smartcash and many other ERC-20 tokens.
Thanks for the feedback. Thanks for the info. I'm still working on understanding the major ICOs before I venture down the path of other ICOs...but good to know.
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