Periodic token price falls have been part of our life since the Mt. Gox days. But it makes me wonder if ICO project managers will ever learn to have a Contingency Plan for such events…
After meticulously devise a whole token pre-launch marketing campaign with white papers, killing web-designs, infographics, animations, testimonial videos, live events and all the rest of persuasion tools would it hurt to add a short checklist of communication tasks for a sudden free-fall of token price?
during market turmoil do not stay silent!
There are several factors and forces adding up during a panic sell period. But one of the most catalysing one is definitely the complete silence of the ICO team.
Actually the ICO team must never be louder than during time of trouble revealing more and more about themselves and the details of the project. The more honesty and transparency the better.
(If you are part of an ICO team check this short checklist of ICO Contingency Plan.)
It is the ICO team’s responsibility to mobilise the token community to help communication efforts.
Remember the ICO team lives on other people’s savings and when those savings seem to evaporate token holders need all emotional and factual support they can get to stay calm and wise.
It is the ICO team’s responsibility to try their best to prevent unexperienced crypto investors from closing their positions and realising great losses.
On the other hand any unusual situation, and a price collapse is definitely one, is a great opportunity to differentiate our token from our competitors’ and the clever few will grab this opportunity.