Watching the crypto markets over the last month, the first thing that pops into my head is There’s blood in the streets! People are freaking out about the crypto markets.
In fact, I had gotten an email from the DREAM team because they’ve postponed their public sale, which honestly raised an eyebrow.
Screenshot of the email
Here’s the text in case you can’t read the screenshot:
Public Sale Postponed
We are postponing our token sale until market conditions improve. ETH went from from $406 last week to a low of $256 yesterday.
All our advisors and investors are telling us to hold and focus on the core business, which is what we will do.
We’ll continue to build traction, develop our product, and grow our ecosystem so we’re even stronger when the market improves.
Thanks to all the community for rewards contributions, however to maintain our token supply we are pausing rewards until the token sale opens again.
All pending approvals will be processed over the next week, and rewards will be issued at the end of the sale.
> Good or bad, I get it.
Public sales and ICOs are supposed to raise funds for an enterprise and it’s very hard to steady one’s confidence when the market takes a dump. The crypto naysayers, non-believers, and told-you-so-ers are stroking their whiskers because they feel justified for not diving in and drinking the kool-aid.
I’m not certain if DREAM and other crypto projects can benefit from postponing their public sales. It seems a little counter-intuitive to me because it’s stacking low buyer confidence with low market confidence. As a marketer and business owner, I have to wonder about their plan. Do they have a recovery strategy or will they disappear?
> I’m invested in crypto!
I’ve got money, time, work, and bounties which I’ve invested in. I also accept crypto when invoicing a client.
Designed by @eirik
Yeah, STEEM is under a dollar but that doesn’t frighten me from accepting it as payment for a job. I’ve been called a fool for lesser things. But if you want to discuss proverbial blood in the streets?
I remember $0.08 STEEM:
Wait… What?! 7 cents for STEEM? 😱
> Interview with Meltem Demirors, CSO at CoinShares
When I saw this 6 minute clip from CNBC, my thoughts on crypto solidified with greater confidence.
“New technologies that shift the paradigm take a long time to really understand.” — Meltem Demirors
Ms. Demirors mentions that if you had invested in ETH a year ago and held onto it, you’ve neither lost or gained anything today. Of course we invest for a profitable return; breaking even doesn’t feel like progress.
Certainly this current market feels like a gut punch, especially if you bought high, but that’s the risk and part of what makes trading exciting. Who doesn’t love a good rollercoaster ride?
So let’s examine BTC for a moment.
I’ve looked at the history and see a definite trend and how cyclical it is. I won’t speculate if this is a nature or nurture trend, regardless, I see something which makes me excited for the coming months. Please note that I am not giving investment advice. These are just my observations.
What will happen at the end of 2018? We can only speculate, but taking a page from Meltem Demirors, I’m going to stay calm and play the long game.
How do you feel about the crypto markets and their trends? Share your thoughts in the comments section.