Ever since the fall of the Bitcoin in December 2018, the crypto world has been abuzz with guesses, analysis and hunches. The BTC could make a recovery or slide down further. Great energies are being devoted to find out what’s wrong with crypto markets, crypto gurus are busy trying to find reasons and excuses for the price slump of Bitcoin.
We are of the option that, crypto markets are just fine and that Bitcoin is making some very wise price corrections. The problem really lies in the minds of crypto world participants. The idea that, crypto markets will always deliver positive returns is wrong. Crypto markets should ideally be influenced by the healthy interaction of demand and supply. Trying to influence the market with high pitched marketing and rumor campaigns, is never a good thing. After lifting Bitcoin to the status of the ‘King Of Crypto Space’, expecting it to always fly high, is a bit immature.
The domination of Bitcoin on various crypto markets, seems awesome as long as the price of BTC remains at a higher level. Unfortunately, this can also mean an overall crash and gloom when Bitcoin prices slide down. Crypto trading has been around for a while, crypto analysts should now work towards a much broader base of cryptos. It would be impossible to deliver market stability, by allowing a single crypto to form the backbone of the market.
When evaluating the potential of specific cryptos, it is important to take a serious look at the entire project that backs them. Projects that have little beyond a crypto, could find it hard to deliver price stability. A project that makes a connect to a real world business or industry, is more likely to deliver a crypto that is not over sensitive to general crypto market moods.
The good news is that change is happening much sooner than expected. The Glitzkoin GTN token received a warm welcome from crypto enthusiasts, this even at a time (ICO ended June 2018) when crypto markets had cooled off. Promoted by a second generation diamond veteran, Glitzkoin is focused on improving efficiency and market scope for the 90 billion dollar diamond industry. The project includes a comprehensive diamond trading platform (DiaEx) that supports, B2B and B2C trade in diamonds. Crypto community experts are impressed by the fact that, the GTN token has been designated as the mode of payment on the DiaEx platform.
When talking about the active support that the Glitzkoin project and GTN token, have received from crypto enthusiasts, a mention about the numbers might be useful. The Glitzkoin ICO was held from March 2018 to June 2018, the token price range during the ICO was in the $0.15 to $0.20 range. After successful completion of the ICO in June 2018, the GTN token was listed on Stellar based exchanges, Stellarport. The price of the token in November 2018 and December 2018, hovered around $0.30. The 50% appreciation based on the ICO price, was impressive as this was the time when, crypto markets experienced a serious slump.
The crypto community continues to support the Glitzkoin project. The DiaEx diamond blockchain would be operational by early 2019. That is when the GTN token would experience an additional stream of demand. This from diamond traders looking to fulfill their payment obligations on DiaEx. Seasoned crypto traders agree that, this is likely to have a positive impact on the price of the GTN token.