Looking at the market dominance, bitcoin covers almost 70.5% of the market trade as of time of writing. there is the need for altcoin recovery or it might spell doom for investors. i.e, people invest today on a new project and sell off tomorrow.
According to a wall street executive, Max keiser, he strongly believed that altcoins has reached there dead end and advised that everyone should focus on bitcoin. considering the fact that bitcoin is limited. there is the need for altcoins as the name implies, Alternative coins.
What is your say on this.
Alt coins suffered a large blow when USA law made every coin to coin trade a reportable event.
Some countries are allowing coin to coin trades as like kind and not reportable .
Alt coins lose a lot of value when you can trade them with ease.
If i mine an odd coin and trade it to a second coin then trade it back and forth on an exchange in 2017 it was not reportable. Now every trade has to be reported I cant be bothered making 200 or 300 entries for coin to coin trading. So basically for these coins to do well they need to be traded as like kind and reportable until turned into cash.
I see a lot of major countries forcing all trades to be reported.