RE: Crypto Stats: Bitcoin going solo again. Market cap support & top 10 coins
Thanks for your comment on my blog.
My opinion: the last altcoin rally was fuelled by very much ignorance and hype and this will not be repeated. The next crypto rally will be accompanied by investment and trading experts with lots of experience. That and the proposition that Bitcoin is the best store of value is why I think that the market dominance of Bitcoin will even climb much further, beyond 90%.
I personally don‘t see a necessity for litecoin, bitcoin cash or dash and think they will be eaten by Bitcoin, though I hold a small amount of each. Ripple is straight out scam.
And there are blockchains with a stable community and which are designed so that users have an incentive to hold its token, which will accrete value. I hope and think Steemit is one of it, perhaps Augur.
Concerning platforms like Ethereum, EOS, NEO I am uncertain where‘s exactly the incentive to hold tokens. Plus, there is the risk that rootstock will turn these platforms obsolete.
Thanks for the detailed comment. Your theory might come true, however more and more projects come out and each one claims to solve a different problem. This might blind the ordinary people, which still have a strong share of this market. Not to say that the number of newbies will drastically increase in the future. And whoever is in this market for gains, will mostly focus on alts.
Carry on!
I agree.
Many people will make great gains in ICOs or with trading alts.
Then, in which currency will they park (HODL) their proceeds? US-Dollar, Gold or Bitcoin?
If they really believe that Bitcoin will be accepted as a payment method in the near future, then in BTC I believe. But in my case (I'm a student), I need the money at disposal, because I can't pay with crypto (yet), so I need to 'tether' it sometimes.