As the second monthly candle has finally closed in the green it looks like there is a possibility that Bitcoin and the cryptocurrency market in general may have finally turned bullish. This type of bullish action has not been seen since the mid/late section of 2017 which led to one of the biggest bull runs in the history of cryptocurrency. Do you think we have entered the next parabolic explosion in digital currencies?
In other news we see ripple has made 2 large moves this week. First they hove moved more than 300 million of the cryptocurrency out of escrow to make it available for sale to large scale financial companies and institutional investors. The second move is in connection with the world bank as Ripple was featured as a new solution for cross border remittances specifically between Latin american countries. The world bank is looking at solutions like ripple to be a possible future for the international movement of money.
Is the age of initial coin offerings finally over? According to a recent report released by the Wall Street Journal ico’s are down more than 58 times as in the first quarter of 2019 only 118 million dollars was raised. This is in comparison to a whopping 6.9 Billion raised in Q! Of 2018. This report also revealed that of the 2500 project that tokendata has been tracking in 2017 less than 45% actually successfully raised money. In addition to that less than 15% of the total tokens that made it to market ever traded at above or even with their original offering prices.
This could lead to the expansion of other tradables such as security token offerings and initial exchange offerings. Do you think the age of the ICO is done?