Before we talk about the next crypto wave, let us reflect on the previous one – what was life like back then. We might as well tell you that, things change extremely fast in the crypto world. So the term ‘way back’ could imply a time span of just 8 to 10 months.
The last crypto wave was all about BITCOIN (BTC), it came and it conquered and it made a record number of millionaires. There was a time when BTC was quoted well above, $15,000. Crypto was BTC and BTC was crypto, millions of dreamers started following the crypto coin. The coin started losing its value but, the dreams went on and on. BITCOIN seems to have found a more comfortable home, this in the $6,000 to $8,000 price range.
Crypto space started to get crowded, hundreds of crypto coins were released from a number of blockchain based projects. Promoters and buyers, hoped to make a huge stash of money. Some of these projects did make it big but, most never really got off the ground. Scams crept in and these ended up bringing a bad reputation for everything connected to cryptos.
The next phase saw the gradual decline in the price of BITCOIN, a large proportion of new crypto issues flopped. Scams were unearthed and high pitched marketing became, the focus of attention. All the rumpus did not seem to have helped, crypto prices in the last quarter of 2018 are significantly down. Marketing hype goes on, and crypto enthusiasts keep waiting for the next crypto wave.
While the wait for the next crypto wave goes on, we at GLITZKOIN are of the opinion that, it is already here. The new wave is different, a lot less noisy, more diligent and bestowed with a high degree of common sense and purpose. Crypto world participants, are taking a close look at projects being launched. Let us tell you what else is new.
Interest in blockchain projects that, offer little more than a crypto token is at an all time low. No one except debutant amateurs are dreaming of overnight success, seasoned crypto participants are willing to wait it out.
So while the crypto community in general is hanging out and biding time, waiting for the next big crypto boom – a group of enterprising crypto buyers and blockchain promoters have set their minds on charting a new course.
Glitzkoin leads the new breed of blockchain projects that, are focused on making a positive impact on real world business. Unlike most projects that have taken shape from technical minds, the Glitzkoin project has been conceptualized by a second generation diamond expert. The powerful features of blockchain and crypto, have been mapped against the inefficiencies and weak areas of the $90 billion diamond industry.
The GTN token which is a part of the project, has been deployed to reduce dependence on the conventional banking system. Diamond trade has always, been hampered by cumbersome banking procedures and substantial banking charges. The emergence of digital currencies, holds promise for the trade.
Here is some constructive advice for those of you who plan to participate in the newly evolving crypto space. To begin with, review each project carefully, separate marketing hype from real substance. Set up a ‘basket’ of handpicked tokens, spread your purchase plans across cryptos and projects. Do not be over ambitious, try to understand that stability and consistency, take time to develop. The problem with maintaining too high expectations is that, you tend to overspend and indulge in high risk.
There is no logic in the belief that high priced tokens are better than, tokens that are modestly priced. For tokens that have been around for around 8-12 months, evaluating the current price trend against the ICO closing price is a good beginning. Take the Glitzkoin GTN token as an example, the ICO was completed in June 2018 at a price of $0.20. The token at this time is trading on Stellar based exchanges, the price is in the $0.18 to $0.22 range. An impressive performance if you consider the fact that, most cryptos launched during this time have lost up to 70% of their ICO value.
So should you make a purchase during the ICO or wait for it to complete. This is a tossup and both timings have their set of loyal fans. It is generally noticed that, many ICO issues offer tokens at an attractive price. The downside is that, you never know how the project would perform after the ICO – an ICO is conducted at the very beginning of a project. Waiting for the ICO to complete and the project to make some headway, does allow you to stay away from projects that experience a price crash shortly after the ICO is completed and the token listed.
The crypto market might be a bit quiet but, there is no reason to stay away. Keep your spending within limits and carefully evaluate your picks. There might be some truth in the saying that, marketing gets louder as the markets grow quieter.