Back in early April, bitcoin was down over 30% from its all-time high.
And the rest of the crypto market was down significantly.
News headlines used phrases like “crypto winter,” which didn’t help any.
That’s why I looked forward to attending the Miami NFT Week conference at the time.
I wanted to talk to people in the crypto space and see how worried they were.
But as I walked away from the conference, I didn’t just feel reassured.
I actually felt more upbeat than ever about the crypto market.
Private Investors Aren’t Worried About the Drop in Cryptos
At the NFT conference, there was only one group that was nervous about the state of the market: public market investors.
The developers were unfazed. They were focused on making their projects a reality.
And the private market investors brushed off any concerns about a “crypto winter.”
It’s not that they thought it couldn’t happen. It’s that they weren’t really worried if it did happen.
Their focus was on funding the best crypto projects that would make them money in the long term.
With that long-term perspective, any short-term volatility doesn’t really matter.
In fact, most of them believed that market downturns bring about some of the best startups.
That’s why I find it a good idea to check in on the health of the private markets.
Especially when the crypto market looks the way it does now.
The Private Market Is Setting Records
The amount of private funding for crypto projects keeps rising each quarter.
Crypto prices declined in the first quarter of 2022. But private market funding rose to a record $9.2 billion.
(Source: CB Insights.)
And that’s not the only noteworthy thing in the first quarter.
There are currently 62 crypto “unicorns” in the world. These are private companies valued at $1 billion or more.
Fourteen of those unicorns are new entrants that were established in the first quarter.
But don’t think that it’s just a few crypto startups raking in all the money.
A record high of 461 companies brokered deals for private funding in the first quarter.
Meanwhile the average size of these deals remained flat over time.
In other words, venture capitalists and other private investors are finding plenty of opportunities in the crypto world.
Cryptos Have Incredible Potential
Although the picture looks disappointing in the public markets, these private deals tell us two things.
First: Even in these conditions, private investors still see the great potential of cryptos.
Second: As these startups mature, they’ll turn into a whole new set of cryptos that enter the public market.
But you don’t have to wait that long to invest in cryptos.
As a matter of fact, the best time to get involved is when the market pulls back like it just did.
That’s why you need to watch Ian King’s presentation on the “Next Gen Coin” if you haven’t already.
Ian believes this crypto will be 20X bigger than bitcoin. So you want to get in now before the big institutional money moves in.
Click here to watch Ian’s presentation now.
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