Bitcoin dropped to $33,000 in January, which was its highest fall from the rank of $69,000 in November. Digital assets have been sluggish recently due to expectations of higher interest rates from the Federal Reserve. Example; Bitcoin investment is Bitcoin.
‘John Linden’, said, “We are able to head into Crypto-Winter, and honestly I don’t think it’s terrible in any market”. A Mythical Game that wants to incorporate a Cryptocurrency collection which is known as non-substitutional token or Video Game NFT, it also hiked to $125 Million, when it was $1.3 Billion. Despite the retreat of Public Technology Stocks, Cryptocurrency startups have risen in last few months. As Cryptocurrency startups tend to appreciate, some founders and investors are still in a woo if there is a mismatch between public and private markets.
With more than 15 Million Crypto investors, India has emerged as the 2nd largest Global Player in terms of Crypto adoption, along with massive rise in NFT Space and other startups. According to the industry players it would be great to align some budget towards introducing Block-chain Technology at educational institutes and begin R&D for use-cases where this technology can and will assist the government.
Venture Capitals are jumping on the Crypto Bandwagons as investors are increasingly considering Bitcoin as an investment asset despite the recent drastic price drop of a few major Cryptocurrencies. Amber Group- a Hong Kong based Cryptocurrency trading startup showed a rise in $100 Million in a Series B funding round at a pre- money valuation of $1 Billion, which is 10 times more than that of the company’s Series A, closed in 2019. Many of the new investors who came in this round provided great breadth in terms of perspective, in-spite of having many high-grown companies in the market which are still rising from 0-1 and 1-100 in about no time.
From an employer branding perspective, we are trying to attract Global Talent, where many are potentially new to Crypto. Several private companies announced bumper cash injection in January, where Cryptographic exchange FTX and its US affiliates raised a total of $800 Million valuing the company at $32 Billion and $8 Billion respectively. Still this is a hit for both Cryptocurrencies and Ventures developing to support the growth of the industry.
As you follow up the facts about digital currency and its importance in the coming years, no matter the dropping down of prices, Crypto based startups will keep coming up because they will create more business opportunities and good success rate. As of now, there are Cryptocurrencies and Block-chain startups which are receiving investments from three avenues that are- Institutional and Angel investors who invest in Crypto-Venture, New Crypto Enthusiasts or Crypto-preneurs and the Big Crypto Investors.
Taxation will be a critical step for the Crypto world, as an inclusive approach by the government will be making India the key destination for startups. So as to avoid any regretful investments in this industry, people should be mentally and psychologically prepared for the outcome it brings along.
