On January the 15th, 2018 Ether hit $1,389.18. For months the media and prominent figures were claiming, “we are in a bubble.” It was obvious even then, but it didn’t stop people from believing the market would keep going up. Generally, we all knew we were in a bubble, but we were mistaken to believe that there was still plenty of gas in the tank to expand even larger. So why were we over optimistic of it going up?

Crypto Bull Market History

On that fateful day of January 15th, the Crypto industry represented roughly 1% of the global financial market. The buzz was the belief that the bubble would last for another year. The overall conception was that institutional investors still hadn’t put in. People were comparing and contrasting with the internet bubble seeing that before its collapse, the value of the dotcom movement reached $1.755 trillion. At the time of the crypto crash, we still had another trillion to hit that level of the dotcom era.

In addition, word in the industry was that companies were concerned that if they hedge everything, their competitors would earn more putting them at a disadvantage by clearly having more money than them. It was a hazy period of misconceptions at the least. THEN BOOM. The market began crashing and we all know the story from here.

Now it’s 2019, March 27th, the market is at 141.5 billion which we saw an 80% decline. From past bubble pops, we may expect a 95% fail rate. So now you must be wondering, how the hell is this a good thing for companies as mentioned in the title? Historically speaking, this is the time to enter the market as after a collapse their becomes an opportunity to climb the rubble, to make your way to the top.

Stepping Out Of The Rubble

You might have heard about exponential technology growth, as it’s been happening since the industrial revolution. Moore’s law has technology doubling every 18 months thus speed of ingenuity grows. As we are building faster these days, we could expect a faster recovery period than the likes of dotcom bubble. It took 15 years to finally recover at the height of 2000.

Today some notable companies who survived the dotcom bubble and became unicorns were Amazon, Ebay and Yahoo. We then saw the likes of new market entrances (second-decade wave or entered late in the bubble) such as Facebook, Twitter, Youtube, Alibaba, Google, Spotify, and the list goes on. It’s reasonable to assume after a bubble pops the kinks are worked out, and companies begin finding their market fit and start generating revenue. Take a look at the recession of 2008. During the recession, we saw the new beginning of the gig economy with Uber and Airbnb building and releasing their products.

Will we see a 95% fail rate? Will the recovery be faster than the dotcom bubble? Only time will tell. But one thing for sure, the latecomers and second wavers after a pop are competing with a very open market. And the ones who find the use cases get the market share. That’s how unicorns are built.

CryptoMood to Take their Market Place

As CCO of Cryptomood, I see now is the time to enter the industry. In a bear market when people/companies are at an all time low, that’s exactly when you take market share. As by getting it right now, will allow a business to flourish during the recovery period. If you are an entrepreneur waiting for the recovery to start to begin, the people who started during the bear market will surely have the advantage as history shows. A successful entrepreneur doesn’t build what’s popular today, they build today what will be popular tomorrow. Thus, timing for Crytpomood’s advanced technical aggregated solution for the Crypto market, is just the beginning.

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Filip Korbel is the Senior Executive in company management, development, and strategic directions. Before being appointed CCO of CryptoMood in October 2018, Fillip was former sales leader at IBM‘s Commercial segment for Central EBU region for 3 years. He is also an active adviser to the Czech Prime Minister’s office regarding AI technology.