The current state of the Crypto Market, insights Mofassair Hossain

Mofassair Hossain CEO of Perhalic opens up on the current state of the Crypto Market

Mofassair Hossain is a well-recognized name in the world of blockchain. He is the CEO of Perhalic and has been associated with numerous top ICOs with their journey as their marketing head. Hossain looks at the Crypto Market and what he thinks is the best strategy to survive in the long run.

Tell us about yourself.

I am Mofassair Hossain and from Bangladesh. I am a Chartered Management Accountant, Web developer, Blockchain Expert and a Crypto Analysts with years of experience Experienced Business Development Manager skilled in Document Review, Key Informant Interviews, Financial Analysis, and Blogging, I am the CEO and Founder of Perhalic, the first ever Cryptocurrency website in Bangladesh. I am a member of the Israeli Blockchain Association and the Global Blockchain Advisory Professionals as well as a certified member of Malta Blockchain Association. I am currently working with Pantheon X as their ICO Marketing Advisor, AllSesame as their Marketing Advisor and Wish Chain as their CSO.

What is your take on the current state of the Crypto Market?

About current market situation we are in bearish zone. As a market analyst I think we will go little bit higher from this place and will see the down market soon. But yes, at the end of 2019 we will see the real bull market again and hopefully it will be a golden year for Crypto Market.

Please give us an idea about what is bear and bull market?

Bull Market

A bull market is when the economy is doing well. During a bull market, unemployment is low, GDP is high and stocks are rising.  If people are optimistic, believing that stocks will rise, they are called “bulls.” In the crypto industry, the bull market is when the price of crypto coins increases against the price of fiat money.

Bear Market

Bear Market is the complete opposite of a bull market. A bear market is when the economy is not doing well – the unemployment is high, GDP is low and a recession in stocks is approaching. If people are pessimistic, believing that stocks are going to drop, they are called “bears.” In the crypto industry, the bear market occurs when the value of crypto coins decreases against the price of fiat money.

What do you think is the best marketing strategy for an ICOs to survive a bear market?

Fund Raising is an important factor when it’s time for ICO/STO but we have recently witnessed that many ICO ventures have closed their token sale for lack of Fundraising. In dump market if you follow the good ol’ 2017 ICO Marketing Strategy, it will not work. In 2017, if anyone spent 100k-300k USD dollars, they got 10x-15x even 20x too as return of investment. But recently we saw fully different picture of the market. Many ICOs lost 300k-400k and even 500k dollars on Marketing as a result of which they are under fire and had to close their ICO for Lack of Liquidity and on top of that, lost their credibility and reputation in the industry.

What kind of Strategy can help ICO Industry to not only survive but also thrive in this bear state of the market?

In Bear Market, we know that Institutional Investors, VC , Private investors and Angels invest lots of their money in potential blockchain startups. They are always looking forward to investing in good startups who has good business plan, strong community, real life use case of their MVP or products, has a very strong team, great vision and also the ability to bring big value in blockchain industry and their product planning and technical analysis. Did you notice that I missed out something there? Yes, and that is the most important and crucial part for any startups in any industry, be it blockchain or any other. Do you know what it is? It’s your marketing planning.  You have very a strong product which can change the world but if no one knows about it, everything is useless.

What kind of steps or strategies we should follow in bear market? Let’s take a look, shall we?

Don’t jump right into spending money on ads or for influencer review or banner ads right in the beginning with the hope of collecting the entire funds in this way. It will kill your marketing budget overnight. At first, make your best efforts of having a strong plan, strong community, good MVP, whitepaper, pitch deck, one pager one by one and try to reach institutional investors one by one with the above documents. Why? As I said already if your project is good enough, you can easily raise millions of dollars from big investors.
At first, focus on building community rather than marketing all over the World with no end goal. You can target Korea, Japan, Russia, Switzerland, Singapore, Turkey and Hong Kong for ICO Marketing and Fund raising since these countries tend to spend millions on ICOs. Therefore, try to build local communities in those countries first. If you want to target some other countries, you can but these should be your first target and after that you can always expand.

There are two strategies that works the most in dump market. One of the strategies is content marketing or in other word global and local crypto press release. Why? You may ask. Well, when the market is down, we all tend to check into daily market situation in top news portals. We all do that, let’s be honest here. Now, if we find some interesting content somewhere, we always read it without missing the chance hoping that this might lead us to something good. If you do global and local crypto press releases in bear market, there will be more eyes in your content and the more eyes, the more potential investors. That’s why content marketing is really very important in the bear market.

Another strategy is to make efforts of having partnership with big ICOs or big startups who are already established in this market. Try to do cross promotion between both projects. If your project is interesting enough, there is a possibility that their community members and investors may also invest in your project.
Create accounts in Angel.co and CrunchBase where you can get lots of Private Investors, VC and Hedge fund Contract access. If your project is suitable for them, it will help you raising more funds for your project in both long and short term.

The last and most important thing to do is to keep updating your community at least 3-4 days a week with good news and project updates. Hire a social media manager and keep your social media profiles updated regularly.
Don’t waste your money doing Airdrops or anything at that moment as it can contribute dumping your token so hard so that you will not be able to recover easily.

Be smart and stay on watch always when it’s bear market. If you can survive in bear market, bull Market will prove to be a heaven for you in the long run.

Is it safe for investors to invest in such condition of the market?

Before investing in any ICOs, I will suggest some points to investors consider first. In this market there are lots of scams everywhere. So, before investing in any ICOs, check their team, their legal country their whitepaper, business model, their product, and the fact that if they use any escrow company. I would strongly recommend you not to invest in such ICOS that don’t have any financial or business model or real use case product which can bring value towards community and for real world. I will suggest investors to invest such projects that has all the aforementioned features.

What should the investors consider before entering the market?

I would suggest the new investors do one thing before investing or enter the market and that is please learn risk management. Learn more about blockchain and how ICOs work. I would not recommend anyone investing in any ICOs or projects before they learn more about this industry so that they can avoid falling into the traps of the scammers. So, please keep yourself more informed and learn more before entering the market. Don’t just jump right into it just because you have money. This is not how you should invest in the blockchain industry or any other industries for that matter.

Finally, what is your prediction about the market?

In my opinion, this is the temporal state of the market and soon within this very year, the market will boom straight to the moon and BTC may rise up to 50k dollars by 2020. This current state of market will change over time. The investors are not newbies any more, they are serious about projects they want to invest in or already have invested in. There is a need for clean market as we know some big financial market players are entering the market soon and I think it’s a positive sign for us and market will be up very soon.

How do people get in touch with you?

You can follow me in my social media profiles or visit Perhalic website or steemit account.

Facebook: https://bit.ly/2U7UZWU
Twitter: https://bit.ly/2EvVftD
LinkedIn: https://bit.ly/2Vd6zQK
Instagram: https://bit.ly/2tApx8l
Website: https://perhalic.com
Steemit: http://bit.ly/2GZNIVA

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