Litecoin advisor: Growing interest could signal crypto spring

Share this article

Growing interest from institutional investors could signal that the crypto winter is finally beginning to thaw.

That says Jonha Richman, advisor to the Litecoin Foundation, Tour de Crypto and the Polybird Exchange. In an interview with Crypto Briefing, Richman added that while the market is far from its previous all-time highs, this is a great time for projects to flex their muscles and prepare for the next bull run.

“Given the current market speed, I think there is still a long way to go [to go] until the market recovers completely and becomes bullish again. ” She said. “However, this does not necessarily prevent or slow down large projects from further developing and improving their products and from fulfilling long-term plans.”

As the market continues to transform and improve, according to Richman, now is the time to stamp out the bad guys. In 2017 and 2018, the bull market and rising interest in Initial Coin Offerings (ICOs) resulted in people throwing money into various projects in hopes of getting rich quick. Unfortunately, not all of these projects lived up to the hype.

One example is OneCoin, which prosecutors claim is a pyramid scheme. According to a publication The US Department of Justice arrested the leader of the platform, Konstantin Ignatov, on Friday for a wire fraud conspiracy. His sister Ruja Ignatova has been charged with wire transfer fraud, securities fraud and money laundering offenses.

The platform, dubbed the Multi-Level Marketing Network by officials, is expected to generate $ 3.353 billion in revenue between Q4 2014 and Q3 2016.

This is just one example, but it shows that bad players are likely to participate in the game when it comes to money.

“The market and the entire industry have an interesting way of monitoring themselves”, explained Richmann. “As people who [initially] involved tend to get smarter, projects that don’t necessarily deserve the attention and money of their investors are blown up, and hopefully the industry is cleared of junk projects and has more time to focus on developing high impact products and services to concentrate.

Another financial crisis?

Richman, who first learned about Bitcoin in 2012, noted that today’s population would like to hedge against such an opportunity if the global economy faced another financial crisis, and crypto offers an alternative.

This was highlighted last month when Crypto Briefing found that Millennials put more emphasis on the field than their older counterparts. Given the impact of the 2008 financial crisis, millennials are increasingly turning their attention to investing in crypto as a way of increasing their income.

At the same time, however, a separate November 2018 report suggests that Bitcoin will not soar during a recession.

Move things forward

But more needs to be done for the industry to boom again. According to Patrick Springer, who worked at Morgan Stanley for 20 years, another bull run is unlikely until speculation subsides.

Back in January, Springer noticed: “A bull market for crypto will come again when all speculators have gotten out, that is, when investors who believe in the greater stupidity theory of selling the same asset to someone at a higher price all leave.”

He added that a market resurgence would also require a “major cleanup” in the number of crypto assets and utility tokens. To him it is “of no value” to have an increasing number of cryptocurrencies from different forks.

For now, the industry remains in a bear cycle, there Crypto briefing Reported earlier this month. W.The industry is unlikely to skyrocket anytime soon, notes Richman, as markets tend to respond to positive news and developments.

“News about partnerships and expanded real-world use cases are always welcome for both crypto folks and institutional investors to regain their confidence in the cryptocurrency markets.” she closed.

But every nascent market has its teething problems, and it is expected that there will be more problems. As space improves and becomes more accessible to the masses, real growth is likely to return to the crypto industry.

The author is invested in Bitcoin.

OKCoin banner

Share this article

The information on or accessed through this website is obtained from independent sources that we believe to be accurate and reliable, but Decentral Media, Inc. makes no representations or warranties as to the timeliness, completeness, or accuracy of any information on this website or their access via this website. Decentral Media, Inc. is not an investment advisor. We do not give personal investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may be or become out of date, incomplete, or inaccurate. We may update outdated, incomplete, or inaccurate information, but we are under no obligation to do so.

You should never make an investment decision on an ICO, IEO or any other investment based on the information on this website and you should never interpret the information on this website as investment advice or rely on it in any other way. We strongly encourage you to consult a licensed investment advisor or other qualified financial professional when seeking investment advice on an ICO, IEO or any other investment. We do not accept compensation in any form for any analysis or reporting on ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

Comments are closed.