Current ICO market situation and MedicoHealth
Through the year 2017 and the beginning of 2018, a significant amount of ICOs was established.
The ICO market was blossoming. The total value of all the cryptocurrencies in the world has increased by more than 40% in the first quarter of 2017. Until the end of September 2017, the value reached almost $150 billion! Investors were excited to contribute to start-ups and were obtaining high profits. Start-ups didn’t have to do much — they had to put their idea, based on blockchain technology in 70 pages long Whitepaper and everybody came aboard. People desperately wanted to be a part of the easy money and the future. Usually, they didn’t even get familiar with the project — all they needed to know is if there is a potential for profit. ICOs were often sold in a couple of minutes, sometimes even in the pre-sale phase. It was a golden era for the ICOs.
The year 2018
In the year of 2018 whole ICO market dropped. Simon Seojoon Kim, CEO, and partner at Hashed explained:
“Why do most ICOs fail to succeed? Some would cite the greed of individuals blindly looking to make a quick fortune, incompetent project teams led by entrepreneurs that lack expertise, the technical limitations of platform blockchains that lack scalability and inadequate regulations in countries that have been unable to keep up with changing market conditions.”
It all began with an investors’ awareness that ICOs will not fulfill their promises and deliver the platform or product. When that happened, the value of tokens in cryptomarkets rapidly dropped. The panic situation in the cryptomarkets and distorted information resulted in a lack of trust among investors — even to the start-ups that delivered their promises.
Paresh Masani, ICO Consultant and Influencer wrote in his article:
“However, times have changed, the markets have experienced severe downturns and the crypto space has evolved. In my opinion, the only way to raise funds and reach hard cap is with a solid working product and the team.”
MedicoHealth Today
ICOs are not going to vanish; they are just going to evolve. Investors are more cautious in picking the right one to invest in, and ICOs are making their products not only the ideas. MedicoHealth has the product and was one of the first ICOs of the future.
Let us explain. For successful ICO project we need four crucial elements:
- exceptional product addressing the real problem,
- market demand,
- the apparent reason for implementing blockchain,
- experienced team.
MedicoHealth has it all. Join the revolution of healthcare now!
