Many people have given different opinions and analysis as to why the crypto market is enduring a terrible year by 2017 standards. They often always it up with optimism for 2019 with promises of institutional investors coming into the market. However, Paulius Stankevicius, runs an international advertising and PR company. He worked with over 200 blockchain companies and helped them to raise over half a billion dollars in 2018. He says that investors could be looking towards a new solution called encrypcurrency instead.
Encrypcurrency To Replace Cryptocurrency?
Paulius Stankevicius said in an interview that one his clients was working on a new technology called encrypcurrency. It is the opposite of cryptocurrency technology, and says it is “much faster and very promising.”
I think that if ICOs do not start delivering results by Q2 in 2019, then I guarantee disappointed crypto investors will quickly shift from investing in crypto to investing in encrypcurrency said Paulius Stankevicius.
Told so when commenting about the developments he expects from crypto companies in 2019.
Massive Losses In The Crypto Market
Major asset prices in the crypto market have plunged by up to 70 per cent since the beginning of the year. Paulius Stankevicius thinks this has happened because of government and bank regulations, politics, and most people losing faith in the cryptoassets they bought while the prices were high in 2017. He believes people should invest for the long-term instead of the daily trading that leaves people worried about the price volatility.
“As a matter of fact, forget the market for 6 months. 2019 has a lot of promises including Nasdaq crypto listing and Bitcoin ETF. People need to step out of the daily trading war zone. Just breathe and do something else rather than day trade every day and panic. The crypto market is not a stock market, as the market cap is too small right now. Cryptocurrencies are a long-term investment which I think will only have a positive ROI within 5-10 years,” he explained.
Raising Funds For Blockchain And Crypto Projects
There are many crypto companies with promising and innovative ideas. However, these startups need the fund to hire the talent to start developing these idea projects. But if prices continue to plunge many of these startups might not be able to survive. We reported earlier this week that some crypto companies like Bitmain, Huobi, Steemit were planning to lay off some of their staff, which many believe is due to a shortfall in revenue from their services.
Paulius Stankevicius advises crypto startups to work on their image brand to get funds from investors. He said startups must make their company look as professional and promising as possible. But in the short run, crypto startups will have to contend with low investors’ confidence in the crypto market.
Will encrypcurrency actually replace cryptocurrency?