Post
Topic
Board Speculation (Altcoins)
Re: Will There Really Be An Altcoin Season or Just a plot to Keep us in the Loop
by
poornamelessme
on 10/09/2019, 16:57:02 UTC
While our altcoins keep depreciating in value daily as we keep vigil for altseason, bitcoin dominance has crossed 70% and keeps growing in strength. Will there really be an altseason.

Kindly read -
https://medium.com/bull-bitcoin/alt-season-scamming-noobs-since-2013-71bd19410d98

Yeah, just a bitcoin maximalist trying to scare people there. In some ways he's correct, true shitcoins probably won't recover. But it's too simple to paint every alt as a shitcoin. Some people tend to overlook that most alts are better from a technical level than bitcoin is. And there are some specific fields where alts do things bitcoin simply can't (such as with ETH).

Besides altcoins being responsible for hype in the market, it's also responsible for a lot of BTC's volume as well (can't buy alts quite often without buying BTC first). So no alts won't really help BTC's cause much. Short-term it'd result in a boost to BTC, but longterm it's unlikely to be healthy.

But the big takeaway to me is how BTC people (and I say this as someone who holds BTC) seem to forget that BTC acts like a pump/dump coin too, not much different than alts. BTC is still down like 50% from its highs... yes it's better than 80-90% losses, but that's how big and small marketcaps work. It works the same way with stocks too. It doesn't mean small market cap stocks are all scams, and folks should just buy Apple and Amazon.