Bitcoin reached just over $4,900 in early September, right before China came out and banned Bitcoin Exchanges and Initial Coin Offerings. South Korea followed suit closely and the market dipped, reaching a recent low of $2,946 days later on September 15th. With Bitcoin dominance well over the 50% threshold, untouched for the past 2-months, we could see a break-out sending BTC price above $5,000 — something cryptocurrency analysts have been expecting for months now. Unfortunately, nobody can predict when China wants to use their power to influence the cryptocurrency market.

Despite the China ICO/Bitcoin Exchange ban, South Korea ICO ban, and the recent SEC fraud cases, Bitcoin continues to remain strong as the blockchain technology fueling the cryptocurrency market continues to make it’s way into the mainstream spotlight. Today, CoinMarketCap lists that there are over 1,152 cryptocurrencies actively traded on the market. I can tell you from experience, I have seen 100’s of coins added and shaved off over the past few months. The 1,152 number is just the active tokens/coins and, well, you wouldn’t consider most of them as ‘active’ if you looked.

Many of the coins below the Top 200 coins on CoinMarketCap are dead or speculation tools used by pump-and-dump groups to make money off of noob speculators. This is not a bad thing as it creates a lot of trading data and gives us new insights into what the supply-and-demand is within the token ecosystem and how different levels of supply affects the formation of token communities. Though it would be nice to see somebody create a product or tool to clean the markets up of the low-volume, dead coins!

Initial Coin Offerings: Creating Real-world Mainstream Solutions to Real-world Problems

Recently, I have been covering a couple Initial Coin Offerings, Genesis Vision and Worldcore Projects. After doing massive loads of Due Diligence, I have found both projects to be creating a huge and much-needed amount of transparency for real-world industries — the Assets Under Management (AUM) and payment processing markets, respectively.

Genesis Vision

Genesis Vision ICO Video

Now, both Genesis Vision and Worldcore have ICOs that are live as we speak. Genesis Vision aims to create transparency in the Assets Under Management market which is a $70 TRILLION global market that really, really needs help as investors lose trust in Asset Managers and large Brokers. Their solutions align almost perfectly with the PricewaterhouseCoopers Assets Under Management 2020: A Brave New World Report, published in 2014 to set the standard for what the AUM market would look like from then through 2020. Genesis Vision cut off their ICO pre-sale early after receiving over $2.3 million from contributors.

Worldcore

Worldcore ICO Video

Worldcore is a payment processing company that has been operating in the EU for over 3-years now and is known for their implementation of voice, facial, fingerprint, and other, innovative methods of account authentication. Also, it has been noted the Worldcore team has been able to help customers open a bank account within 6-hours, online. 12-hours during the weekend; something even the largest banks cannot accomplish. Having already processed over $100 million in transaction volume for clients, Worldcore is poised to help bring cryptocurrency to the next level having already raised over $5 million in their ICO.

Why mention these projects? Because the AUM market is at $70 TRILLION and expected to reach over $100 TRILLION by 2020 per PwC’s report…now, cryptocurrency market is sitting at $152 BILLION….and Bitcoin is sitting at around $4,748 right now. Considering Bitcoin is leading ALL cryptocurrency forward, it’s nice to see this from a different perspective, maybe. While Bitcoin has ALWAYS been in the spotlight, it’s Initial Coin Offering or Token Sale projects like Worldcore and Genesis Vision who will ultimately bring ALL cryptocurrency to the next level. Why? Well, because these companies are already dealing with REAL-WORLD volume, a small sliver of that $70 trillion figure I mentioned.

Say Bitcoin dominance stays at 50%ish and the overall cryptocurrency market cap reaches $1 TRILLION, just about 9.5x what it is now, then Bitcoin’s value would inflate to $30,000…yes, really. That’s at a dominance of 50%, but if Bitcoin maintained even just a 52% market share at an overall crypto market cap of $1 Trillion, Bitcoin would be worth $31,300.

It’s when we start hearing from figures like JPMorgan’s CEO, Jamie Dimon, about Bitcoin being a fraud and that it will be shut down — this is somewhat of an indicator that Bitcoin is IN the spotlight now. It’s just a matter of time before the first hedge funds and Asset Managers begin to put a sliver of that TRILLION dollar market into our still small, infantile cryptocurrency market. Until then, follow along as I continue to cover various facets of the blockchain and cryptocurrency community!

Below are some resources for beginning cryptocurrency enthusiasts or others interested in something new: