Re: Peter Brandt: 99% of Altcoins Will Be Forgotten in Five Years
I reckon he might be partly correct, however, there are altcoins that are supported by small but loyal communities and excellent developers that refuse to be forgotten.
I am an Aeon bagholder and I have already accepted its fate that it will never be as big as bitcoin or its big brother, Monero. Will I stop supporting it? No and I am not the only holder giving it support as a hobby.
Peter Brandt thinks everything is about making holders rich. He lost the essence of community and opensource development in the cryptospace.
The altcoin market continues to bleed out, setting one fresh low after the next. Its caused the overall crypto market sentiment to reach extreme fear and despair, with many worrying that the altcoins they hold may never again return to their previous all-time high prices.
However, career trader Peter Brandt says that the fate of the altcoin market is much worse than never again setting new highs. The professional trader claims that in five years, 99% of all crypto assets will be a distant memory.
According to Peter Brandt in response to a tweet suggesting that Litecoin, Ethereum, and Ripple were going to continue to set new lows and that crypto traders should focus on Bitcoin as their main asset of choice as the one with the most lasting value as much as 99% of all crypto assets will be forgotten in five years time.
Investors in Litecoin, Ethereum, and Ripple were particularly defensive, but later Brandt clarified that LTC and ETH have far more going for them than the rest of altcoins, which he refers to as a junk pile.
However, Brandt may not be wrong about his statement. Earlier this year, crypto analytics firm DataLight shared a visual representation of the top ten cryptocurrencies by market cap and how it has evolved since 2013.
Before even clicking play, the only recognizable cryptocurrency on the list aside from Bitcoin itself is Litecoin. Not even Ripple was released at this point.
The list includes the likes of Peercoin, Namecoin, Feathercoin, Novacoin, Mincoin, Devcoin, Terracoin, and Aphrodite Coin. If you are scratching your head, wondering what these altcoins are, then it may not be unfathomable that the current crypto market top ten might all be forgotten in the matter of another five years, just as Brandt says.
Read in full https://www.newsbtc.com/2019/09/03/peter-brandt-99-of-altcoins-will-be-forgotten-in-five-years/
I am an Aeon bagholder and I have already accepted its fate that it will never be as big as bitcoin or its big brother, Monero. Will I stop supporting it? No and I am not the only holder giving it support as a hobby.
Peter Brandt thinks everything is about making holders rich. He lost the essence of community and opensource development in the cryptospace.
The altcoin market continues to bleed out, setting one fresh low after the next. Its caused the overall crypto market sentiment to reach extreme fear and despair, with many worrying that the altcoins they hold may never again return to their previous all-time high prices.
However, career trader Peter Brandt says that the fate of the altcoin market is much worse than never again setting new highs. The professional trader claims that in five years, 99% of all crypto assets will be a distant memory.
According to Peter Brandt in response to a tweet suggesting that Litecoin, Ethereum, and Ripple were going to continue to set new lows and that crypto traders should focus on Bitcoin as their main asset of choice as the one with the most lasting value as much as 99% of all crypto assets will be forgotten in five years time.
Investors in Litecoin, Ethereum, and Ripple were particularly defensive, but later Brandt clarified that LTC and ETH have far more going for them than the rest of altcoins, which he refers to as a junk pile.
However, Brandt may not be wrong about his statement. Earlier this year, crypto analytics firm DataLight shared a visual representation of the top ten cryptocurrencies by market cap and how it has evolved since 2013.
Before even clicking play, the only recognizable cryptocurrency on the list aside from Bitcoin itself is Litecoin. Not even Ripple was released at this point.
The list includes the likes of Peercoin, Namecoin, Feathercoin, Novacoin, Mincoin, Devcoin, Terracoin, and Aphrodite Coin. If you are scratching your head, wondering what these altcoins are, then it may not be unfathomable that the current crypto market top ten might all be forgotten in the matter of another five years, just as Brandt says.
Read in full https://www.newsbtc.com/2019/09/03/peter-brandt-99-of-altcoins-will-be-forgotten-in-five-years/
I think all the altcoins will probably settle their actual value. Much of the current value are from speculation. This is a wake up call for developers who are more focused on short-term price rather than adoptioin.
Mass adoption should be every developers main focus and not just price.
The masses should be the ones behind the price movement and not the wealthy few who have too much influence on the price.
Developers who understand what Cryptocurrency is all about and have the will to keep improving things, will last in Crypto.