Despite Bear Market, Cryptocurrency Investors See Glimmer of Hope

The cryptocurrency market has gained some breathing room from the recent major correction that began in early May

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.

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