Most Crypto Coins Will Go To Zero

The CEO of Digital Currency Group and Grayscale Investments, Barry Silbert said that most of the cryptocurrencies will go to Zero in long term according to a report published on 13 Feb.

Berry believes that thousands of tokens that emerge in the past few years are worthless. Berry says:

“I’m not a believer in the vast majority of digital tokens and believe most will go to zero,”

He added that all Initial Coin Offering (ICO)  was just an attempt to raise money there is no feasible use of the tokens.

ICO markets have good hype in late 2017 and early 2018 and raise a lot of money from investors. Most of the ICO’s of 2017-2018 are now down by more than 80% of their value.

ICO markets are almost dead now as compared to the previous year. In the last month, ICO’s raised $290 million which is around 20 times less as compared to March 2018 when ICO’s raised approx $6 Billion.

Berry is an early investor of Bitcoin and he is optimistic about Bitcoin that one day it has won the race to become digital gold.

The bear market is just the beginning of the pain of the cryptocurrencies.

Worst is yet to Come