For as much market hype as there is surrounding bitcoin, I think it’s important to remember the lessons learned in the late 1990s and early 2000’s. Market euphoria during those times was previously focused on IPOs and penny stocks and get rich quick schemes I see a lot of similarities with what’s going on in today’s market yes there’s a lot of potentials yes there’s a lot of hype there probably isn’t as much substance as a lot of market claims.
A little common sense can go a long way. That’s not to say every project out there is a false representation, but I do think a lot of them make outlandish claims that they won’t be able to back up. It’s why having a good team behind you and having a good idea what the at the market needs is vastly underrated you can you can have something, but if there’s no market fit for then, you’re not going to capture any market because there is no market.
I do think the crypto community is getting smarter. If you look at the trajectory and how fast-paced things have been moving, in 2016 ICO’s and token sales were few and far between. In the first half of 2017 token sales started gaining more acceptance in you start seeing some high-profile names come out, and now in late 2017, I read that there was nearly 2000 ICO’s in September alone. These ICO’s and token sales are obviously are not sustainable. There are a lot of great ideas out there and there a lot of great teams out there but I don’t think there are 2000 great ideas out there for single month.
If you're interested in other examples of market euphoria phenomenal book to read is Devil take the Hindmost by Edward Chancellor.
The book is fairly easy to find on Amazon I won’t post a link here, but it is well worth picking it up and reading it.
We have a few other book recommendations that I’ll be posting about in the coming days, but hopefully, this will get you started and add to your reading list. We’re big students of the markets, and we enjoy helping others learn more about market themes market structure and anything related to markets.
Feel free to comment below, we'll happily reply and continue this conversation with any questions you might have :)