China bans new ICOs

If you got the chips - buy the dip. As Fred Wilson of Union Square Ventures says, the lesson from the internet is anything China bans, invest in.

China bans new ICOs

This is causing major turmoil on the markets, but all of that is based on fear. If investors were rational, they'd realise that (1) This news does not affect bitcoin, litecoin, IOTA, Monero and the like, only blockchains that allow creation of tokes, and (2) this news means that old ICOs are effectively grandfathered, and it's simply going to be much harder to create new ICOs. Which, in turn, means that there will be less competition for existing tokens, which should drive the price up, not down.

I don't know about you, but I'm going to buy the dip.

Be Fearful When Others Are Greedy and Greedy When Others Are Fearful. (c) Warren Buffet

Source: TechCrunch

Looking for more great content? Please follow us on social media and subscribe to our newsletter to never miss a Saturn Network announcement!