Post
Topic
Board Altcoin Discussion
Re: Nothing is wrong with altcoins
by
rdewilde
on 04/03/2020, 09:12:56 UTC
I will start hating altcoins only when bitcoin raise up to 20,000$ and altcoins fail to move up as well, many people are putting blames on altcoins today as if bitcoin is not in loss itself, the ATH of btc was 20k and now it's trading for 7,000+ thats like 12,000$ lost please how will this not affect other altcoins as well? Top altcoins will surely lose value as well, to me this present loss of altcoins are positive, look at coins like LTC, EOS, BNB, these coins are doing fine. You will only have problem if you invest in crap altcoins

First thing First, the market is affected by many things, where there are coins which stands to ensure they aren't too affected others are helpless. That is, when bear market sets in, all coins will lose value and most people will convert to stablecoins to protect their funds, in bear market both Bitcoin and altcoins drops in value that is for sure, but what happens after the bear market? This is a question that really matters a lot.
No one should blame altcoins from dropping in value as it is people that invest, trade and hold them and can do whatever they want just to be safe, but one can really blame some altcoins and this comes in when there is a bull run and they aren't moving while others are moving; thus showing that, the particular altcoin in question lacks a lot hence the reason investors moved to others already booming. To answer the question that really matters, taking BNB as an example, the team is bringing in services such as more fiat support to ensure the relevance of the platform, so in this case investors have reasons to invest every now and then. Therefore, investing in good altcoins is very important so as to be on the winning side.