Observation written by Stankevicius MGM CEO, Paulius Stankevicius

The cryptocurrency market is down, and the blame goes on regulations and government policies. But, the market has been going down since 2018 January due to the result of what happened in 2017 Q4. In 2017 Q4, projects raised money with promises, leading billions of dollars lost in pump and dump schemes. Most importantly, still in 2019 today, we do not see a single blockchain product that is in the market running successfully and profitably.

What we see in the blockchain market are crypto exchanges, and dozens of coins listed on the exchanges — people trading literally for luck and pure guessing. If the ticker is green you buy, if it's red, you sell. That's sad truth what's left of the crypto market. Since the start of the IEO, many projects hacked themselves to direct listing and easy capital, but regardless of the raised capital, if your project is not delivering, the stock will get dumped, either by fraud founders or disappointed investors.

There are tons of barely functioning blockchain MVPs out there, still what they call a blockchain is not an actual blockchain but simple javascript web app with a mix of nice HTML5 and CSS3 designs. Surprisingly, then people get upset about government policies and regulations because, genuinely, all of this is really not real and fake. The market is full of fake companies and fake promises. Obviously, it's extremely difficult for a congressman to believe in crypto people, while not much really happened in the crypto sphere apart from the white-labeled exchange business. 

What would it actually take for the crypto market to make a turn?

Well, without blind investments and blind guessing by amateur investors, it looks like the crypto market is doomed but not exactly. We can see that 2019 was a year of development, and many things happened, in the end, leading some financial companies to get regulatory approval for trade. Some banks showed interest, as well. As a matter of fact, a lot of global banks are using blockchain. But usage does not directly help or impact the crypto market, which is now just barely over 200 billion. How do you get back from 200 billion to a trillion? What could bring the crypto price back up and surpass the price records of 2017 Q4? 

It's the merger between blockchain and traditional business that we need, and yes, it's already happening but too slow, unfortunately at a speed of possible market collapse. The crypto market needs to move faster in order to survive. The only parties responsible for that are the ones that started the game. ICOs need to step up their game and finish their products, launch the products to market and start acquiring users and getting growth. The market is missing blockchain products that can be used together with coins. What are we investing for? Why are we buying coins on exchanges? For green and red? Or for use? 

It's the mentality of buyers and sellers between profits and revolution. People want crypto to rise so they could sell their stock. But when you sell the stock, crypto will not rise. Investors need to get that the responsibility does not only fall on the ICO company but also about you. ICOs need capital to survive, but if investors continue to sell their shares whenever the stock is up, it will just go nowhere. The same applies to founders and the whole crypto industry. 

The only way to bring crypto back is for the world to unite. Having investors not too aggressive on selling and having crypto firms actually developing useful products and launching them to the market only can bring the industry up. The industry needs a push not from banks, not from governments but from people who want this industry to succeed. 

About Stankevicius

Stankevicius is a leading global advertising, marketing, and public relations firm that provides a wide range of advertising and marketing services to a substantial and diversified client base that includes corporations, financial companies, startups, and individuals. Founded in 2014, the firm is headquartered in Dubai, United Arab Emirates and maintains locations in Hong Kong, Helsinki, and Minsk.