For decades, the path to success for start-ups was clear: raise money from venture capitalists, and either start trading in the public markets or sell to a bigger competitor.
These days, however, there’s a buzzy alternative that carries ever-growing promises: the initial coin offering, or ICO. No longer do companies have to sell shares of themselves to big investment firms. Coin offerings allow start-ups to go directly to individual investors over the internet, selling digital currencies akin to Bitcoin that can be used for some service that the companies build.
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Investors are eager for a reason to grow bullish again as the cryptocurrency market adds $12 billion during the third week of June 2018. The Bitcoin price rebounded from $6,300 to $6,700, breaking a descending trendline since May 3, when BTC achieved $10,000.
While it is too early to conclude that BTC is preparing to go into a mid-term rally given that prices fell below the $6,000 mark in the short-term, the cryptocurrency market has gained a breathing room from the recent major correction that began in early May. And if we take a look at Ripple, another bull move could be in the waiting, suggesting a return to $0.50.
So, with cryptocurrencies’ prices near significant lows, are ICOs the way forward for emerging start-ups and a way to reinvigorate this market that has fallen into a bear mode for the past few months? It might just be, and it could be one of the few reasons left able to re-attract investors’ attention.