An epic collapse of crypto currencies?
Every time I visit coinmarketcap.com I see ICOs over and over again. Many pretty much are scams or pump and dump schemes.
This is pretty much hurting the growth of Crypto currencies as too much money is being pumped into such ICOs.
Let's see if the Segwit implementation fork of Bitcoin might come to the rescue.
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Sadly people are looking at ICO's as a get rich quick scheme instead of what they really are... startups. Many of them have no working product, in fact many of them haven't even started doing anything by the time their ICO goes live, yet investors are pricing the coins/tokens as if they are fully implemented and ready to go (which 99% are not)... I mean 50+ million for a company that hasn't even started on their idea and is still unsure it will even work, just crazy... Hopefully the ICO craze will settle down over time as more and more people get burned by the sharks that are massing these ICO tokens and trying to sell them as soon as they go on their first exchange to make a quick buck in a few days/weeks time. Don't get me wrong some of these ICOs will likely be quite successful, but not now, not tomorrow, not the next day... but maybe in a few years, so if you invest in an ICO be careful and pick the right ones, and be ready to hold them for the long run if you expect to make a profit (otherwise if you aren't doing that then it really is gambling and you should understand the risks involved).
Anyways, just my 2 cents...
Well said bro.
Lets wait till august 1 and then see what happens, but this is market driven price change and if you are long term investor i think you should only buy when everyone else is selling.
You have a good point there
i like your post my friend