Most people can easily recall the bull market times when any coin you bought could bring you incredible profits within weeks. However massive Ethereum sales by EOS and other ICOs, massive dumps of MtGox bitcoins and numerous other factors ensured that the days of the bull would not last long.
The last 15 months have seen many cryptocurrency traders go into a desperation mode, with the sentiment that money can only be made via shorting and scalping being widely accepted.
The one thing that had been noticeably missing from the markets were ICOs that yielded massive returns in minimal time. Until BitTorrent.
With sale prices of $0.00012 per token, and ATH price of more than $0.0012 just a week after its launch, BitTorrent has become one of the quickest moneymakers in cryptocurrency history, beating giants like Gnosis and Basic Attention Token.
Led by Justin Sun’s impeccable ability to market a cryptocurrency, BitTorrent has inspired many crypto enthusiasts who left the market to start searching for the next big thing.
As for whether a success story like this can turn the entire market around – the next month will be crucial. Alongside Bakkt expectations, a crypto-enabled flagship smartphone and many exciting technological advancements, especially with top 30 cryptocurrencies – maybe optimism will return again.