The situation of the cryptocurrency market in the eyes of Sergey Petrik, the co-founder of UMC

UMC unifies professionals with years of experience in SMM marketing, PR, project management and software development. Moreover, every member of the UMC team is an active participant in the cryptocurrency market and has his / her own view on all the events.

Today we present to you the article of Sergey Petrik, the co-founder and Chief Sales Officer of the UMC project, on the situation in the cryptocurrency market. The article is based on Sergey’s personal podcast in CryptoTime.

Sergey called his new podcast “Depression”, because no one knows what we should expect on the cryptocurrency market in the near future. He shared his thoughts on the most important events of the cryptocurrency market, the prospects of growth and the future of crypto world. We should consider the opinion of crypto experts and follow the news.

• The 3rd monthly report of the Chinese Gov for its Cryptocurrency Rating Index was released recently. Despite having banned ICOs and crypto trading in September 2017, China’s Ministry of Industry & Information Technology has launched a rating index. EOS is positioned again first and leading while Ethereum follows second. The Ranking puts a new cryptocurrency Komodo in the top 5 blockchain platforms. Thus, I believe that it is worth investigating Komodo in more details.
• I think that the cryptocurrency market will start growing again in September-October 2018. Many analysts claim that 2017 was almost identical with this year. In summer 2017, all crypto forecasts were pessimistic and a few people believed in cryptocurrency. At the same time, an ICO boom also took place in summer 2017. Many users have invested in ICOs, which had a huge profit. I believe that this scenario will happen again.
• Vitalik Buterin, the co-founder of Ethereum, believes that the value of cryptocurrency may be seen in regular, small-scale everyday spending. In a private event in San Francisco last week, he spoke on the future of cryptocurrencies, remarking that he would be happy to pay for goods and services with Bitcoin Cash. I do not know whether Buterin has ever met Roger Vere, but his statement will definitely cause resonance. Every statement of opinion leaders and crypto gurus has a very strong influence on the crypto market. Buterin also mentioned that he believes ICOs to be “old and boring”, past their prime as a financing model.
• Currently it is very difficult to work on the ICO market. As you may know, I am the co-founder of UMC, the project which is coming to the ICO market in the near future. Our team has already finished a pre-sale and a closed round of the token sale. In September 2018 we plan to launch a public token sale. That’s when we plan to present our project capabilities, MVP, partners. UMC is the story of a real business. We plan to create the first advertising exchange in social messengers. You can order any advertisement in the world’s top messengers (Viber, WhatsApp, Telegam and others) and use the technology of smart contracts on the UMC platform. UMC will act as guarantor of the transaction between the buyer and the advertiser. Today this niche is very promising; we will solve many problems related to guarantors, copyright, discount token, etc.
• Moreover, each state will introduce its own national cryptocurrency very soon. State representatives all around the world are considering the possibility of creating their national cryptocurrency: study blockchain and its applicability in a real life, gather a team of professionals. Sooner or later they will create a model that will be applicable in different countries. Perhaps it will be Swiss or Maltese model. Malta is considered to be the Silicon Valley for cryptocurrencies.
• Today, most Bitcoins are bought outside the exchange. We do not see much of the turnover, even Coinmarketcap does not show real numbers and does not add a lot of coins. On Coinmarketcap you can find 2000 currencies, while there are more than 10 000 on a real market. Many new exchanges appear on the market. I think that there will be many exchanges like Binance on the market, which will make a real revolution.
• The representatives of Wolf Street believe that Bitcoin is a good way to store money. Bitcoin does not have any other functions. The psychological barrier of $6,000 is very important. If Bitcoin’s price falls below $6,000, then this will be an important psychological factor.

Now I’m drawing a positive picture of the cryptocurrency market. Technologically, this will be the most correct approach, because during the dot.com collapse, when 90 percent of companies ceased to exist, the remaining 10 percent — Google, Amazon, Yahoo survived and brought their holders a huge profit.