5 Reasons Why Launching ICOs During a Bear Market Could Work

Many things cause a cryptocurrency bear market, and most times, it aligns with negative investor sentiment. It is where the crypto prices plummet by over 20%, which encourages sales. For anybody who is planning to launch an ICO – yes, price matters! However, the growing number of ICOs makes it challenging for a start-up to flourish unless it promises to be different. In particular, the land of ICOs has more than 5700 ICOs, which displays the competitiveness required to pierce through the realm and come out conquering the rest. What is an ICO? An Initial Coin Offering (ICO) is a significant way to raise funds for a cryptocurrency project. It works by getting interested investors to buy into an initial coin offering to receive a new crypto token issued by the company. In a nutshell, the sea of ICOs binds no one on any set rules. However, with the fierce competition, time and volatility in the market is an illusion, the future value of tokens is also not supported by anything but demand. Could Launching ICOs During a Bear Market Work? The cryptocurrency market got wiped off billions of dollars of value in the last few weeks. A sell-off in cryptocurrency prices and the collapse of algorithmic stablecoin terraUSD and its related token Luna caused the dip. The drift resulted in a bear market, where the enthusiastic crypto community marvels whether cryptocurrencies will fall further. What’s more, whether launching ICOs could work in ...