As the crypto market continues to experience fluctuations, it can be tempting to hit the pause button on your project and wait for the market to stabilize. However, now is actually the perfect time to double down on your efforts and continue building. Here are a few reasons why:
💹 Markets are volatile by nature and driven by human emotions. It's important to remember that the crypto market has always been (especially) volatile due to its infancy and small market cap in relation to the sector it disrupts. The total crypto market cap quotes roughly at an $1.1tn valuation (for a 24/7 tradeable asset) compared to Amazon's $950bn market cap (approximately a third of trading hours in comparison). Small markets disrupting extensive business opportunities are driven by a long-term trend, and short-term volatility has to be accounted for in your business according to your exposure. Hence, rather than being swayed by short-term market movements, focus on the long-term potential of your project and continue building.
⚒ Building creates value. Even if the market could be performing better, you can still add value to your blockchain project by continuing to build and improve upon it. This can help position your project for success in the long run, regardless of market conditions. Remember that the best businesses are built during bear markets as they are prepared for the worst and plan according to the long-term trend, not the short-term market swings.
👔 Opportunities may arise. As you continue to build, you may discover new opportunities that you hadn't considered before. These could be partnerships, funding opportunities, or even new markets for your project. By staying focused on building, you increase the chances of finding and taking advantage of these opportunities. Always remember to stick to your vision and long-term market demand.
👨💻 It's a chance to differentiate yourself. In challenging market conditions, many projects may be tempted to cut back on development or pivot their focus. By continuing to build and innovate, you can set yourself apart and show your commitment to your project.
Ultimately, it's essential to stay focused on your long-term goals and continue building despite the challenges that the market may present. By doing so, you increase the chances of success for your project and position yourself for future growth. It's time to hustle, and we at Polimec Foundation are happy to support other projects in the ecosystem with their strategic focus going forward!