After the last incident, where Longfin, a small cap company said that it is going to buy a defunct cryptocurrency, it’s value exploded to more than 1300%.
At present, a lemonade making company, Long Island Iced Tea, is investing in buying bitcoin miners. After it’s company witnessed the surging growth of 500% after changing its name to Long Blockchain. The company changed its name two weeks back after seeing the euphoria sweeping the globe.
Now, the company’s press release indicates that the stock sale that they are offering will allow to move into Bitcoin mining business.
This isn’t the first time that euphoria has made the prices surge and crash. It is like sentiment and the investors need to utilise this time effectively.
As said by co-founder of Iota that the entire market today stands is in a bubble and the most projects have reached unicorn evaluation. But at the end, only those cryptocurrencies or project will survive that have real-world adoption and true value.