This is wonderful news!
I have already said time and over again that
Less than 5% of the ICOs are real blockchain projects
Less than 15% are genuine projects utilizing blockchain
What about the rest you ask
Good scams with good packaging, marketing, supporting and profitable in the short term; and
Bad scams where they just take whatever money they can raise and leave you with almost zero cost and value coins/tokens.
The recent ICO scam cases have gone overboard and even those in the loop have lost count of the white papers generated and the money raised from the market.
However the booming trend has not come to a halt but merely cooling down a little.
Yes the prices of coins and tokens have taken a beating as a sentiment consequence, but not for long, as usual, why?
Less ICO scams means less number of shit coins/tokens, means the money poured into the blockchain world will eventually be more concentrated on potentially good projects, instead of spreading thin across the market.
Also, this ban is only on ICO platforms in China
The ban only covers those within the jurisdiction of China
Yes China is BIG but crazy at the same time but
CHINA is NOT the world and China can’t stop this trend.
For those who had missed the only dip of bitcoin price in 2017 back to under US$2,000…and other major cryptos…
It’s buy in time, again.
Read More : Brief: China bans ICOs