It Is Getting Better: Survey Shows Nearly 1 in Five Are Very Confident Of the ICO Market

Surveys in themselves are quite useless. However, the data when contextually studied and results, worked out towards trends, can paint quite a picture. That picture is dripping with colors of optimism, according to a recent survey.

The survey in question has been conducted by TGE. They put together a questionnaire and spoke to over 300 participants. To make things more interesting these participants were CEOs, firms, and consultants; people who can make a quantitative change to the milieu. The idea was to get a better measure of understanding the ICO and blockchain space. A major point of encouragement was that 19 per cent of those respondents were very confident about the initial coin offering industry (ICO).

Keep in mind the recent history of the apparent fall from grace for cryptos and then factor in that, generally, 2018 has to be the year of the bear; as far as sentiment toward the ICO space goes. A large number of ICOs traded well below their listed price. Even in such a dreary environment, only 9 per cent of respondents were “somewhat non-confident” of the market, and a further 14 per cent were cautious to say they were not at all confident. This is far from bad as the industry has resiliently held against a further drop in prices, and a “neutral to positive confidence sentiment.” seems to be on the horizon. This was aptly reflected in the survey where 36 per cent of those polled were neutral.

The survey also found, unsurprisingly, that ICO scams are considered the single biggest concern of the people; a whopping 40 per cent signaled. This was followed by other common apprehensions within the ICO space, namely lack of regulation and lack of governance which came in second and third respectively with at 33 and 27 per cent of the votes.

The results also gathered details about who is generally looked upon for respected advise in the crypto sphere. Most of the names surprised no one, with the top list including the likes of Andreas Antonopoulos, Barry Silbert, Bobby Lee, Charlie Lee, Michael Terpin, Mike Novogratz, Roger Ver, Scott Walker and Vitalik Buterin.

The apparent lack of government regulations, the world over, is often cited as a major factor hindering the ICO market. This is however fast becoming a thing of the past as governments the world over are taking steps to be more involved and are trying to make this a safer investment opportunity.

Small counties like Malta and Taiwan, for instance, are in the process of setting up the ICO regulatory framework. There have been numerous reports that state there is an impetus to draft regulations to make ICOs as liquid and safe as retail stocks. Even the bigger economies of Europe such as Germany and France are being more proactive. For instance, Financial Action Task Force (FATF), the French anti-money laundering watchdog, will be expected to launch its crypto guidelines by the middle of next year.

Most commentators now believe that the market has bottomed out, leading that call is Mike Novogratz, CEO of Galaxy Digital Management. Most agree with his predictions made back in September when he pointed at the signs of recovery. Now, the latest polls are also a positive indication that even the cautious in the market are slowly realizing that the winter is drawing to a close.

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