Bitcoin is to blame: blockchain startup funding has been cut by 60%
Blockchain startups have been found to receive less funding by analysts at CB Insights. BTC's sharp rise in price this year was the culprit for that.
Blockchain-based startups have received about $784 million in investment deals over the past 7 months of this year. And if this trend continues, the amount of investment will reach $1.6 billion over the year.
Well, that's a lot less than the results of 2018. The past year was more favorable to a range of business projects and has yielded $4.1 billion for their development. As a result, the overall level of investment has decreased by 61%.
E-Chat Team' s Opinion
There are different ways to interpret this news. On the one hand, Bitcoin really hit the record for popularity after the financially poor 2018 year. However, strict regulation has limited interest in cryptography projects. That is why it is unfair to blame everything on BTC.