We are still experiencing the long downturn decreasing from the peak at the end of 2017 and we still do not have a safe landing, but we are closer.
As we can see from the number of the ongoing ICO projects & fund raised monthly which are in a stable situation, but many projects still feel it is even more difficult to reach their soft cap because investors need to see their MVP which can offer solution for the current problems & workable for the real world, better with existing user cases.
In the past year, we found the problems of ICO which caused lots of fraud and undelivered promises, then STO coming out to embrace regulators to make the investment safer and it was very hot in last year, but it’s likely not suitable for most of the projects and proceeds slowly.
Currently the market is waiting for the breakthrough point for blockchain technology itself & promising DAPPs emerging, but blockchain will not be booming without the development of other new technologies, like 5G, IoT & AI, because 5G build the infrastructure for communication and network, IoT will generate a huge amount of data and AI will use the data to make the world smart, so do blockchain, it will be more likely to be the highway to transport the data in an exponential level.
Also from the government perspective, they are planning on how to make good use of this technology and keep it in control as well. The most important part is the attitude of the biggest economies, like US, China, etc. SEC’s investigation for ETF and penalty for a few ICOs all showed they are very prudent and will take action only when they are ready for regulation. The Chinese government also keeping releasing policies on blockchain by CAC and completing the regulating structures step by step.
Finally, from a corporate perspective, we saw JP Morgan released their token. The key point is not their token, but their attitude to the blockchain which indicates they are optimistic for blockchain’s future because they are biggest traditional institution among the smartest guys in the world who are sensitive and have access to the latest information source. Based on this, we can imagine that there will be good news in coming several months, most probably is the institutional investors will enter into the market.
So be patient & well prepared, then what we can do is waiting.