Investors more discerning, attractive entry point for first time investors
In my opinion, the impact for high-quality companies and projects would only be negative if the crash was associated with some bad news regarding the blockchain technology itself, which was not the case. A market correction can have a positive impact on the ecosystem in the sense of investors becoming more discerning and selective.
Interesting products and projects will still be successfully funded, while opportunistic and low-quality ideas will be ignored. New investors will benefit from the crash because of the attractive entry opportunity.
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- Dan Duarte Figueiredo, Co-Founder at Auctus, a blockchain company to reward people for saving and planning for retirement as well as financial institutions for high performing products and advice. They have an ICO in Q1.
ICOs benefit from plunging Bitcoin/Ethereum
Ironically, when Bitcoin or Ethereum go down or remain stable, the altcoin markets thrive over time. People tend to hold Bitcoin or Ethereum when things are good because they don’t want to miss out on the upswings — despite the declines. Even prior to yesterday, and even with regulatory scrutiny, altcoins have been booming over the last few weeks.
We announced the Current token sale this past week, and got an overwhelming amount of inbound from all over the world wanting to participate.
- Dan Novaes, Founder of Current, a platform where people can earn tokens listening to music. They have an ICO in February.
Bandwagon investors to be scared away, best projects will continue to succeed
We don’t see the Bitcoin plunge having a huge effect on the best projects in the ICO market — which is what we focus on. The dip may scare bandwagon investors away from the lower-quality companies in the space, but the best projects will continue to raise the capital they need and push forward building their networks.
The smartest investors in crypto distinguish between long-term store-of-value bets like Bitcoin and more speculative early-stage protocol investing via ICOs
- Andy Bromberg, CEO of CoinList, a platform which hosts and manages the top ICOs in the world.
Bitcoin alone doesn’t dictate ICO market
ICOs will continue as-is, and possibly see even greater support in the community as projects start delivering and testing real products to prove their tech.
For a long time Bitcoin was the leader that dictated confidence in cryptocurrency as a whole, but more recently that confidence has been spread among many different coins and tokens. While some market-wide trends still make an appearance, Bitcoin and other coins and tokens have largely become decoupled.
- Dan Gailey, CEO of Synapse AI, Blockchain AI company with an upcoming ICO, competing with SingularityNet
Article by Sam Shillet