“The trend in cryptocurrency. market is very unstable. It’s been downhill ever since I hit the peak late last year. The fall seems to be increasing recently. Bitcoin, the symbol of cryptographic money, once priced at over 25 million won in Korea, has fallen to around 7 million won. Etherium, the flagship Alt-Core, has been pushed back to its lowest level of 300,000 won this year. The 300,000 won barrier is at stake. In the cryptographic currency market, the unstable actions of Bitcoin and AltCine, which act as a key currency, directly affect other AltCos. Most of the Alt-Cos, including Ripple, Ios, and Quantum, fell sharply compared to their peak.
The overall recession in the crypto currency market is hurting the ICO market. As soon as some of them were listed, their prices plummeted and investors were at a loss. Accordingly, some ICO-promoting companies are trying to come up with countermeasures such as delaying schedules or modifying their coin sales strategy.
If so, will the market for crypto currency collapse as it is? On this issue, there is still much optimism among experts. The current crypto currency market is a process of adjustment caused by excessive anxiety and checks by vested interests, and will have a strong upward momentum in the near future.
In response, we met with Brian Jung (Korean name Jung Min-ho) of the business architect who is the pounder and blockchain of the Liker World and heard about the reasons for the current market slump and future prospects. He was recently introduced as Korea’s tap-scott due to a money-task that is called a U.S. block chain missionary in the media.Editor’s State
Most of the crypto currency that is being traded, including Bitcoin, has fallen significantly compared to the peak. Blockchain fever is raging all over the world.
- I think there are very complex reasons. To begin with, I think now is the right time to invest in crypto currency. This means investing in a recession. However, I think the recent drop in the price of crypto currency is due to the fact that purchasing price has been reduced due to the principle of supply and demand. Investors’ vague uneasiness about cryptographic currencies and uncertain economic conditions such as the global tariff war have prevented them from opening their wallets. However, the deeper the goal, the higher the mountain. There is a high possibility that the U.S. will again spin out the cryptographic currency market as of November’s midterm elections.
I understand that he made a huge profit by investing mainly in cryptographic money, especially in Altcoin. What’s the secret?
- Many people have invested in Bitcoin since it was regarded as an illusion. Based on this, the investment made by Altcoin, which is relatively inexpensive, was well matched. I thoroughly analyzed and invested major Alt-Coin such as ether, Ada, Ripple, Tron and others, but luck worked to a certain extent.
Unlike the past, many investors have participated in Altcoin ICO but have suffered considerable losses.
Yes, the ICO market was different last year and this year was different. There is nothing to eat at the famous party these days. I also have a famous advisor and experience investing blindly according to fame, but I couldn’t make expectations. Only coin, which has excellent technical staff and clear business targets and models, survived. According to the current status of the coin three years ago, the tendency of investment in the long term should be changed rather than in the short term. This is why some say that it is more efficient for investors to acquire coin, which has fallen by a large margin than to participate in ICO. After investing in ICO for a long time, it has five principles of its own.
Air View: The insight into the entire cryptographic board is important, as seen from the sky. In other words, it is difficult to make a successful investment by looking at trees rather than forests. If you look down from above, you can see Google, Facebook, Bitcoin and Etherium. This will greatly help market analysis.
Enforce social media: Among cryptographic investors, social media such as Twitter, Midium, coindesk, Reddit, Steemit, and Github are like bubbles. It contains all the information and it is shared in real time. Due to the time gap, people cannot sleep until 2 to 3 a.m., but they cannot succeed without making a time investment. In the ‘coin economy’, Twitter is the report of information and the media itself.
Learn three times in a row: Investing in cryptographic money is also about competition between people. A thorough analysis and study show a pattern. For example, a general fall in prices from Saturday afternoon to Sunday morning in Korean time was a pattern created by the flow of funds from the U.S. large investment institutions. It is important to learn about these market flows and patterns. The same applies to investment in ICO. How much time you concentrate on investing depends on your success. Until now, when I invested in a new coin, I had to go through an analysis period of three months. After learning thoroughly for about three months, they adhere to the principle of participation. It does not invest more than four times a year.
Look at the execution capability first: the ICO investment market is very different from last year. There is no longer a chance of winning by making the same investment as last year. It is important to look at whether ICO players are really viable. In particular, in the case of Utility Coin, practical ability is the key to measuring the success or failure of investment. Some Altees, which recently succeeded in ICO, have seen their prices plummeting after being listed, are making an eloquent speech. Because the business is very unlikely to execute, a large amount of dumping takes place at the beginning of the listing. The fact that I have joined up with 20 related agencies and businesses while pushing for Liker World’s ICO and established power nodes in major overseas regions also reflects the importance of practical ability.
Invest in a coin under $1: Low prices have the potential to make as much money during the rise in prices. Therefore, it is necessary to pay attention to coins that do not exceed $1 if possible. The fact that Ada, Ripple, and Nem, which cost less than 10 won in Korean won, have made hundreds of times as much revenue as they did in the past, explains this. Although there are many things to consider when investing in ICO such as amount of issuance and circulation, it is basically because resistance to increase is expected.
I know you have a long experience in IT, but how did you get into the blockchain field?
In the early 1990s, the company started its Internet business by opening the world’s first Internet cafe in Gangnam, Seoul. It is the world’s first Internet cafe, and the origin of our PC room. It was recently reported that Wework, the world’s largest shared office, was the cornerstone. After experiencing Bitcoin in late 2013, it was able to study blockchain as a Korean partner of Bank 4u Group, a British FinTech company, in 2015. In 2016, he established a blockchain development company in Chengdu, Sichuan Province, China. Like the Internet in the past, I was convinced that the blockchain had the explosive power to change the future of society. Since then, he has focused on blockchain research, participated in ICO, analyzed blockchain technology and business, and prepared for business.
It is heard that Bitcoin investors are pushing for blockchain education platform and directly ICO. Please tell me the motivation and current status of the Liker World.
- As we started our research on blockchain, we had a lot of concerns about selecting future business items. The conclusion was that the education project was universal and that market pie was big. Education based on sharing and sharing was also good. Of course, while the existing education market is considered saturated and red ocean, I was convinced that education in the era of blockchain would be a blue ocean. Good members joined the club because it was based on cause and substance. Kim Young-nam, former Master of Tokyo University, Lee Won-bu of Dongguk University, Chris Park of IBM Accenture, and JP Morgan, who are running the first blockchain Ph.D. course in Korea. Currently, it is focusing on expanding its business network and focusing not simply on ICO to attract capital. In particular, it is expanding its strategic partnership with various related companies that will enhance the value of coinage in the future. Starting from next month, it will enter a full-scale pre-sales service and is planning to be listed at the end of the year. Ultimately, I want to create a platform for education service, the world’s best block chain, that will realize the true equality of education and remove the blind spots.