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ICO investments worth $15 billion made this year, says Coinlist CEO

Ajay Narayan

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ICO investments worth $15 billion made this year, says Coinlist CEO
Source: Unsplash

Andy Bromberg, the Co-Founder, and CEO of Coinlist, spoke about the performance of cryptocurrencies since the beginning of this year, during an interview with Bloomberg. He also spoke about the effect the market has on Coinlist, a platform for digital asset companies.

Andy stated that the ICOs had a lot of hype and attention in the year 2017. However, at present, there has been a bifurcation between high-quality and the low-quality projects. He further added that the investors are now understanding the difference between these kinds of ICOs, unlike the previous year where they would invest in any project.

Furthermore, Andy spoke about the overall investment flow and whether it is better than the previous year’s ICO investment. He said that there has been a significant increase in investments. Currently, the company has witnessed an overall investment flow of over $15 billion, which is more compared to the $6 billion investment in 2017.



He further added that the reason for the increase is the emergence of different types of tokens from various categories which are not similar to the tokens which emerged in 2017. Andy further spoke about whether he found it normal to create so many tokens. He said that there is no requirement for a lot of tokens in the space. He said that in comparison to the previous year, the investors would invest in token even if they were of low-quality and have started to opt for high-quality tokens this year. He further added:

“This year, what we’re seeing is those high-quality projects are making significant gains, Bloomberg also reported that last month was the worst month for cryptocurrency ICOs in a long time, since 2016 levels”

The CEO gave some insight into the future of the cryptocurrency market. Andy said:

“while old in the eyes of some younguns, is still nascent, Bitcoin has only been around for approximately a decade whereas the altcoins and ICOs have only existed for less than a couple of years, at least in their popular form.”





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Ajay Narayan is a full-time journalist at AMBCrypto. He has majored in Economics, Political Science and Sociology. His interests are inclined towards writing and investing in cryptocurrencies.

Analysis

Bitcoin [BTC]: King coin’s Golden Cross confirmed; Greenspan hints at bullish market

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Bitcoin [BTC]: King coin’s Golden Cross confirmed; Greenspan hints at bullish market
Source: Pixabay

Bitcoin’s much-awaited Golden Cross, which many analysts claimed will lead to a resurgence of a bullish market, has been confirmed. The intersection of the 200-day moving average and 50-day moving average, which indicates the Golden Cross, was achieved over the past few hours.

Earlier today, the top cryptocurrency saw a massive rise after days of sideways movement. Bitcoin’s ascendance saw it break the $5,350 resistance level, which eToro’s Mati Greenspan had previously suggested will consolidate “buying pressure.”

Source: TradingView

Additionally, a major psychological level of $5,500 was also surpassed less than three weeks after Bitcoin broke the $5,000 mark.

The Golden Cross theory holds credibility among analysts in the cryptocurrency realm as it infers that the coin’s average price is above its 200-day equivalent. For the first time in over a year, the cryptocurrency market has seen its 50-day MA move above the 200-day MA, which according to many is a sign of a bullish market.

On the opposing side of the Golden Cross indicator is the Death Cross, where two indicators cross over into a bearish market i.e. the 200-day MA moves above the 50-day MA. The Death Cross manifested in April 2018, after the prices went into a free fall following the December 2017 high.

In April 2018, BTC was priced at just over $7,000, following which it lost more than 50 percent of its price by the end of the year. The price of the king coin has recovered exceedingly well in 2019 however, winning back almost 50 percent of its lost value.

Many analysts, including Greenspan, agree that the crossing of the two moving averages is a clear testament to the return of the bull market. Although he didn’t quite use those words, Greenspan tweeted,

“Ladies & Gents… The Golden Cross!
Bitcoin’s 50-day moving average (gold) crossing above her 200-day moving average (blue). 📈
This is yet another sign that we’re back in a🐂market. 🚀🌛”

However, in an exclusive interview with AMBCrypto last week, Greenspan had stated that the Golden Cross theory is a “lagging indicator,” as the Death Cross was last seen in April 2018, months after the market took a bearish turn.



In his view, the 200-day moving average is the key indicator. On April 2, Bitcoin broke this mark for the first time since March 2018, by recording a massive 17 percent daily gain and rising above $5,000.

Based on historic price changes with reference to the Golden Cross, the last time the 50-day MA soared above the 200-day MA, price of Bitcoin rose by over 8000 percent from $246 in October 2015 to almost $20,000 in December 2017. Given past market movements, the current market scenario, and the optimism in the air, the Golden Cross may just have initiated the Bitcoin bull market.





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