Bitcoin ICO is very popular, and the market volatility almost caused a crash

Bitcoin is permanent, but investors are ever-changing. Since the price of Bitcoin broke through 10,000, it has attracted a lot of attention. However, in the domestic market, which has always led the international market price, many investors have said that they have lost tens of thousands of dollars due to restrictions on withdrawals.

“The market was so hot and the prices were so high that I couldn’t hold back. I was afraid of missing out, so I bought Bitcoin. But once I put my money in, I could never get the coins out. I was really greedy at the time,” said an investor.

Compared with domestic trading, the highest price difference of Bitcoin is up to 4,000 RMB. The price of OTC trading and platform trading is based on the international market. Therefore, for investors who have coins on the platform or blindly recharge money to a third-party trading platform due to lack of information, they will earn at least 3,000 RMB less for one Bitcoin. Here, it should be noted that OTC trading must pay attention to risks. After all, most individuals act as platforms and are completely trustworthy. In addition, since the policy does not indicate the specific time point for withdrawing coins, OTC trading is a better choice for short-term speculators.

Compared with the market trend, when Bitcoin is sideways or when the price lacks significant fluctuations, ICO has become a hot keyword and even set off a trend, especially in the domestic digital currency industry community. ICO is a way to invest in cryptocurrency projects. Usually, some new cryptocurrency projects will sell some platform tokens through ICO, and the early holders and enthusiasts of these tokens can one day exchange the tokens for money. ICO is the best way for the founders of cryptocurrency projects to raise funds for the operation of the platform. Most ICOs are conducted in Bitcoin or Ethereum. ICO can be traced back to the birth of MasterCard.

Faced with the recent rise in the price of Bitcoin, most domestic ICO projects have encountered bottlenecks. According to the operation department of the asset chain (Acchain), they set the time long before the project ICO, but there were too many variables, and everyone was busy speculating in coins. The number of participants who stayed to see the project has definitely decreased compared to before. In addition, compared to ICO itself, there is a slight rejection of the concept of legal currency (competitive coins or Bitcoin as a medium). Faced with the Bitcoin that may skyrocket at any time, they will not easily invest with coins. Taking this into consideration, the asset chain (Acchain) started the ICO on the official website on May 9, and also added the ICO method of using Ethereum to purchase ACC in the rules.

On the other hand, the trading and circulation of Bitcoin in the domestic market is less convenient than before. If investors participate in ICO and do not have Bitcoin, they must first buy Bitcoin. Then we are back to the problem we talked about at the beginning. If Bitcoin is bought for ICO, then ICO itself faces double risks:

1. Investors outside the circle who lack information are likely to buy on platforms that restrict withdrawals, because those platforms are mostly well-known brands.

2. Investors who have a full understanding of the industry will focus on speculating in the market.

Acchain said that even if they encounter inevitable difficulties in the entire ICO, they will continue step by step, because in the entire asset chain development plan, from project initiation to project ICO, and then to asset chain listing and circulation, they have signed cooperation agreements with multiple companies, and the time requirements are very strict. They said that they will increase publicity efforts in the community to minimize the risks of participants, and gradually refine technical analysis, market analysis, rules and other links to deliver more simplified and easy-to-understand information to participants, try to lower the technical threshold, and encourage multi-party participation.

As the largest ICO project in the industry in May, Acchain faces pressure from market conditions, policies, and markets, which poses a great challenge to the authorities. At the same time, if it succeeds, it will become a classic.