I think the FUD on BTC holders is at an all time high right now.
Noobs on all reddits / telegram mock BTC holders and show off their portfolios full of shitcoin gains.
Will this shitshow ever end?
The FUD is starting to get to me...
Are you feeling the same psychological FUD?
Crypto has gone kinda mainstream the last few months it seems to me.
Many people jumping into altcoins.
I'm not sure this is sustainable in the long term.
Sure some of them have value and might be useful for something specific or globally and will be there to stay I'm sure but many small ones are now also valued at $10 million+ or even $100+ million when they only have a white paper, a few devs and a website that might not work well and possibly no product yet.
Those simple components never normally make a $10 million company.
It's like a mad rush into penny stocks surely?
But to me all that trading actually strengthens Bitcoin itself regardless. It is almost always the only means by which you can purchase any of these alts. (I admit ETH / LTC / USDT are used a lot too)
Bitcoin is doing what it is supposed to do whilst these alts really will have to prove themselves over the next year or two.
I'm sure many will collapse. But will they all collapse at once is the question I guess.
I think we are at a crossroad now. Either btc is going to pursue this new trendline or is going to tank hard and go back to the pevious one, taking alts and such with it (as it did yesterday).
Alts that do not intentionally attack btc do not concern me too much, as they come and go, eventually they will develop a market on their own as the top 3 cryptos will become less of a speculative investment (hopefully)