The Die Off of Alts and the Similarities to dotCOM Era
I believe that the crypto space is now going into full purge mode. If you take a look at many of the alts that were ICOs, they were initially bought up and exploded with the 2017 crypto craze. Since then, many have been constantly sold off, and there are even reports of top executives of these tokens selling off massive amounts. There has been absolutely no follow up with many of these alts. Some are even the "big" tokens: TRXBTC, XRPBTC, EOSBTC... just to name a few. Much of the volume and price action on these coins is a result of large leveraged positions pumping and dumping constantly, and then some poor retail trader gets sucked in. I'm not saying these aren't tradable or profitable. Just be AWARE that these tokens, if you are trading them, more than likely won't be around in the next 5 to 10 years.
We've seen this all before with the dotCOM era. The markets were flooded with IPOs and "booming" tech stocks. On paper at the time, yes, in reality, no. They were all highly speculative penny stocks with grand ideas, but no substance or follow through. Then once people got wise, boom... over 80% of the market was gone overnight. I bring this up because we are seeing those same warning signs from the dotCOM era with a lot of the current medium to big alts. There were some companies in the 90s that people thought would be giants. Where are those companies now? Guess what? We see this same speculation cycle happen again, and again, and again with market cycles and bubbles. Crypto is no different.
On a brighter note, feel free too check out BTCUSD, ETHUSD, LTCUSD and others. These coins have shown that they are going through market cycles, and dont seem to be being sold off till zero. After a massive decline, we've seen follow up and even GROWING interest! Very exciting because I do believe in the power of crypto and what it can do for the world.
We've seen this all before with the dotCOM era. The markets were flooded with IPOs and "booming" tech stocks. On paper at the time, yes, in reality, no. They were all highly speculative penny stocks with grand ideas, but no substance or follow through. Then once people got wise, boom... over 80% of the market was gone overnight. I bring this up because we are seeing those same warning signs from the dotCOM era with a lot of the current medium to big alts. There were some companies in the 90s that people thought would be giants. Where are those companies now? Guess what? We see this same speculation cycle happen again, and again, and again with market cycles and bubbles. Crypto is no different.
On a brighter note, feel free too check out BTCUSD, ETHUSD, LTCUSD and others. These coins have shown that they are going through market cycles, and dont seem to be being sold off till zero. After a massive decline, we've seen follow up and even GROWING interest! Very exciting because I do believe in the power of crypto and what it can do for the world.
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