ICO's Holding up as $450+ Million is Raised
Hello Steemers and Viewers! After analyzing the markets today, with EOS trading live, and then analyzing the new ICO Tezos, seeing these two ICO's do so well has greatly improved my viewpoint of the cryptocurrency market for the next 6 months.
In the stock market, often what happens is that IPO's launch when the market is doing well. Then as so much money is raised, eventually the IPO's begin to flounder and some will delay their IPO. What happens is that the liquid capital to put toward new projects in the stock market can dry up, and often this coincides with a top in the stock market.
I had been thinking that with all the successful ICO's that have launched lately in crypto with high dollar valuations such as BAT, BANCOR, and this last week EOS, that perhaps the capital markets were exhausted at supplying new capital into ICO's for crypto.
Yet when I was crunching the numbers for Tezos today, which had their ICO begin yesterday, we can see that this simply is not the case:
TEZOS funds raised, 7/2/2017 7:51 EST
This is about $135+ million at the time of writing this.
What this tells me is that there is plenty of capital to invest into cryptocurrency still. The markets have not exhausted what can be raised in crypto for solid projects. It is a big deal to get 468 million in capital raising in just a few weeks, between BANCOR, EOS, and TEZOS. The EOS ICO is seemingly ready to beat all records as it is still on-going for 1 year.
What this means to me is that we are in a market lull, not a 2013 crash situation. This was already my hunch, but I wanted to see the Tezos ICO do well, just to confirm this.
Stay woke. Stay bullish. Stay crypto.
I have a one trillion crypto market cap price target in one year. In 5-7 years nearly the entire financial system will be blockchain based. Crypto will be everywhere by then. EOS is doing great! 3X from first first period.
Yeah, I was thinking it might drop some... but market arbitrage might just support the price of EOS well enough to keep it above 1 bil the whole time. Glad I got some in the first period. People thought I was nuts, but this is the very reason I put it in the first period, because there was the chance it just does amazing.
Yes, I think it stays above $2+ billion most of the periods with a pump to $10 billion soon once the Koreans jump on board. I went full in the first days or period 0 like you. It was not overpriced IMO at period zero about $888 million valuation then. Since investing into Ethereum last year its the only one I see superior to it. Then following Dan for so long here on Steemit I know he'll produce a very decentralized product and not some banking coin like....
Do you think that the prices per EOS coin will go down after the hype?
Absolutely insane. There is no shortage of people that have boatloads of money to spend. Crypto has made many people very much money, it makes a lot of sense. A new ruling class is rising from the ashes, what a beautiful thing to see and be alive for. Buy and HODL
When i hear anyone say ICO.
The rate of growth of EOS is insane. I bought at 1 dollar just yesterday and now is at $3.6. The people that try to get the sweet spot daily will inflate this through the roof. This is gonna be the most insane thing in the recent crypto history.