What the Hell is going on with Crypto market?
Bitcoin drops from $19,000 to $6000
ETH dumps from $1400 to $250 today
NEO: $150 to $15
BTG: $400 to $13
God Save Us! Please.
From Dec 2013 to Jan 2015 BTC went from 1000 to 200 USD and it took 3 years to go up to 20000. Also most of the alts will dump even more than BTC before eventually come back up. They're just market cycles, blockchain tech is still fine and will be used now and in the future.
Most altcoins are scams and are only propped up by scammers that have an interest in keeping the price high before they dump. They serve 0 purpose at all. It's a big bubble. The question is, did the bubble peak already and we'll go back to %80 BTC domination as it should be, or it didn't even begun yet?
By comparison to the dotcom bubble, it shouldn't have begun yet, so I believe altcoins will see another rise. The altcoin bubble will probably peak at a couple trillion dollars when BTC is past $100,000++ and everyone is making mad money on shitcoins.
At that point it will be similar to the dotcom bubble: That is, a massive purge of shitcoins, followed by a bear market of a year or two, then BTC will start its rise to $1,000,000, similarly to Amazon's all time graph, look what happened years later after the dotcom bubble. 99% of altcoins will stagnate to 0.