Post
Topic
Board Trading Discussion
Re: The Fate of ICOs.
by
CryptoF007
on 02/01/2019, 20:16:40 UTC
I think this bear market is like natural selection...the strongest projects will survive the weakest will die...
The same with ICO's, strongest ones will survive and make a good long-term projects with huge price increase, most otheres will die...
There is another big problem for ICOs, especially for the ones formed in late 2018 or early 2019... it is financial problem, as most of them were funded with ethereum at or above 1000$, therefore if they haven't converted ETH into fiat, their budget decreased by 90% just because ETH dropped in price. In case of prolonged bear market they are facing bankruptcy.
Statistically number 2 reason why most startups don't succeed is lack of funds, which is exactly what those ICOs are facing...
Given the fact that most of them don't have exceptional business plan, that I believe we will have another year of bear market, that I believe we have way too many cryptocurrencies atm, that I believe alot of ICOs just used opportunity to finance them through blockchain but really are not up to the task, ...  unfortunately I don't see bright future for most ICO's