The END of Altcoins? Are They All Heading to $0?
Over the course of the bear market, Bitcoin Maximalism has grown in popularity as people capitulate on their altcoin bags.
Many people are even going as far as to say that we'll never witness another altcoin rally ever again, with Bitcoin dominance heading to 100% of the total crypto market cap.
But is this true? That's what I'll be discussing in this video.
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
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Great points. We can clearly see, when market goes up, there is a bigger risk apetite therfore most people invest in altcoins and automatically altcoins outperform bitcoin. In bear market, it’s complete oposite. Bitcoin is treated as a safe heaven. Even though bitcoin is still going down, but not as much as ALTs. It might be comparable to stocks and bonds. Bonds usually act as safety role. My personal opinion is that there will be another altcoins rally. When bitcoin was at it’s high, there was just a few people calling for crash or bubble. Majority people said “This time is different” or “This time it will not crash.” I wasn’t diferent, it went down. Today it’s not diferent either, it’s all the same. Of course, some ALTs won’t survive in this market and that’s healthy for a new bull market. Just like financial crises in 2008-2009. Thanks to last bear market Ponzi schemers where caught such as Rudolf Madoff... How long does it take for today’s bear market to turn around? I don’t know, but without fed’s intervention, which was the reason why we have stock bull market today since 2010, it may take years for sentiment to turn around.
People say that the crypto market has the craziest swings. I would absolutely differ and say that it is the human emotions that have the craziest swings. In fact the the whole crypto market rides on the emotions of the investors.
Bitcoin has found support at 6000 and alts still bleeding - So we have so many converts into the religion of Bticoin maximalism and everybody is shouting that altcoins are dead. Then there would come a time that Bitcoin would grow 10X but alts would grow 20X. That would be the time when we'll see more converts of Bitcoin minimalism and they would shout about how bitcoin is a thing of past and alts are the future.
There is literally no logic to emotions. I got them too...... but I try to avoid saying things that I know would make me look foolish :-)
This happens every year, although most coins are going to 0 at least the top 100 will remain for a long period of time.
That would be my opinion.
Its seens many time that coins goes at 0. Just strong and top 100 remains at constant level. Btc is strongest over all
These are just movements that are part of the market cycles. Many altcoins will definitely go to zero because there are too many out there with little followthrough of adoption after their initial ICOs. Some will not survive do to regulations, others to poor money management; the fact is that many will fail and that is what is being priced in these days. However, after this capitulation ends, we should then see a jump in quality assets that perform accordingly and achieve launches and adoption of their projects.
That’s an amazing place where you are. Sooo quiet and peaceful. I completely agree with you. Bitcoin outperformed before just like altcoins did and history will repeat itself. Whether it will be 30/70 or 20/80 I can’t tell, but once things turn around, healthy altcoins will outperform bitcoin especially Steem.
Thats not new and strange. It has been seen many time where coins at zero. Lake of management is cause of this. Top 100 remains strong at everytime
I'm far more interested in alt coins. I consider myself to be an environmentalist, so it's hard for me to support Bitcoin. I don't think BTC is going to be the coin that becomes the closest thing we have to a world currency. Maybe it will be Dash or ADA. Whatever coin will become the number one peer-to-peer currency will overtake BTC. When people start using crypto for what it was designed for, then all the different coins will be in demand. I agree that Bitcoin dominance won't stay this high. Anyway, Sydney looks great.
If we are being honest, it would probably better for the ecosystem if a number of altcoins went to zero, those being the projects with no utility. It is hard for cryptocurrency to be taken serious with thousands of coins out there yet so very few with actual use cases and utility. I imagine this bear market should help shake out said projects. Once this happens I think we will have a healthier ecosystem.
I can’t see steem going to zero, although the are a lot of coins that should probably disappear. Cheers mike