Crypto winter is driving away many traders and investors from investing in the crypto market. End of the last year 2018 has seen a lot of downfalls related to security that is implied to blockchain technology. Growth rate or the survival of the investors and traders are in concern in the cryptocurrency market. Several companies exchanges and mining are omitting their growth plans due to the downfall market.
In order to support companies from the crisis, Galaxy Digital will be raising fund terminating first round of fundraising by the end of the month of March. It is on the target of collecting fund $250 million as USD loans to crypto firms. This is not for the first time that Galaxy Digital is raising fund for crypto firms. It has also invested $52.5 million on Blockfi, a crypto-backed lending platform, in July 2018.
Crypto market in 2018 has observed the high growth rate in January, but despite the improved strategy in blockchain technology, the downfall of cryptocurrency was inevitable by the end of December. The present situation of cryptocurrency demands investors to stay skeptical, know the pros and cons before looking forward to any project. Though convinced about any investment, investors have to do their own research along with considering average dollar cost.
Bitcoin News reports that the founder of Galaxy Digital Michael Novogratz started this bank with the aim that it will become the “Goldman Sachs of crypto.” By the end of 2018, Novogratz acquired 7,500,768 extra shares of the company for approximately $7.4M Canadian dollars.
On the other hand, Invest in blockchain has reported about the obstacles faced by the traders and investors. When discussing the complexity for investors in crypto and what leads to boom-bust market cycles (i.e. 2017 vs. 2018), Yocom-Piatt said, “There is a minority that is incredibly well informed and a majority who are quite uninformed. This knowledge gap often benefits the well-informed at the direct expense of the uninformed, so the former are incentivized to maintain this arrangement.”
Investors can know about the product on which they are investing in the crypto market. The truly solid code that is necessary for supporting the investors of multi-million or multi-billion market cap dollars.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]