Well!!! I personally think in 2017 there were not much competitors like now also a lot of scam projects came and disastered the alt market, which became a serious thread to the Investors now they don't want to invest in altcoins rather they would go with king of alts.
My point is people don't want to risk their investment in scam projects so BTC is now the king and we cannot expect massive pumps in alts in upcoming days..
Topic: Altcoin has surpassed Bitcoin after halving 2016 but this time will different (Read 271 times)
May 15, 2020, 12:54:45 AM
May 15, 2020, 12:28:36 AM
A lot of people on r/cryptocurrency seem to think it will play out exactly that same, and all their shit coins will get pumped to the moon so they can cash out, I would say that has precisely 0 chance of happening.
What could happen:
1) A whole new bunch of shit coins get pumped, which will enrage the r/crypto crowd, because they just want a chance to dump their bags, or,
2) People have learnt their lesson in pumping vague whitepapers with no code run by people who couldn't code their way out of a wet paper bag, and bitcoin will continue to increase its dominance, along side a few other coins which may actually have some value.
Honestly in a sane world it would be option 2, but starry eyed idiots gotta idiot, so I imagine so a few useless projects will get pumped into the billions, some scammers will get rich, and r/crypto will get a whole new bunch of people just waiting for their useless coin to fullfil its potential....."but its based on a directed acyclic graph man....bitcoin is like yahoo to [insert shitcoin here]'s facebook", and "[insert shit coin] can do 400 trillions transactions per second man, just as soon as somebody actually uses it, oh and somebody actually writes all the code, its all their in the whitepaper man, did you even read it?"
The biggest question this time round is if I should try and front run their stupidity, write a script to see which bullshit starts getting the most traction with the idiot crowd, buy early and sell early and earn a few more bitcoin. I won't though, predicting stupid will happen is easy, predicting exactly what way stupid will go stupid is far more difficult.
What could happen:
1) A whole new bunch of shit coins get pumped, which will enrage the r/crypto crowd, because they just want a chance to dump their bags, or,
2) People have learnt their lesson in pumping vague whitepapers with no code run by people who couldn't code their way out of a wet paper bag, and bitcoin will continue to increase its dominance, along side a few other coins which may actually have some value.
Honestly in a sane world it would be option 2, but starry eyed idiots gotta idiot, so I imagine so a few useless projects will get pumped into the billions, some scammers will get rich, and r/crypto will get a whole new bunch of people just waiting for their useless coin to fullfil its potential....."but its based on a directed acyclic graph man....bitcoin is like yahoo to [insert shitcoin here]'s facebook", and "[insert shit coin] can do 400 trillions transactions per second man, just as soon as somebody actually uses it, oh and somebody actually writes all the code, its all their in the whitepaper man, did you even read it?"
The biggest question this time round is if I should try and front run their stupidity, write a script to see which bullshit starts getting the most traction with the idiot crowd, buy early and sell early and earn a few more bitcoin. I won't though, predicting stupid will happen is easy, predicting exactly what way stupid will go stupid is far more difficult.
May 15, 2020, 12:01:41 AM
this has never happened ever.
so far that i have seen from the market altcoins have always only gotten pumped whenever bitcoin price became stable. after the 2016 halving bitcoin price became stable for a moderately long time which means we saw an increased number of altcoin pumps until bitcoin started to rise back up again which made all those altcoins dump hard.
i wouldn't call this "surpassed bitcoin" in any way. specially since altcoin pumps can never last and never will.
so far that i have seen from the market altcoins have always only gotten pumped whenever bitcoin price became stable. after the 2016 halving bitcoin price became stable for a moderately long time which means we saw an increased number of altcoin pumps until bitcoin started to rise back up again which made all those altcoins dump hard.
i wouldn't call this "surpassed bitcoin" in any way. specially since altcoin pumps can never last and never will.
May 14, 2020, 05:21:55 PM
If you're referring to the bull run of 2017 specifically, then alts definitely outshined bitcoin in terms of price rise.
I don't agree with such analogies. If Bitcoin is worth $1000 and it will rise $1100 its 10% gain, but if some altcoin worth nothing like all altcoins go up from $0 to $1 its 100% price increase. Wow it outperformed Bitcoin by 90% points. It donesn't change that Bitcoin has value and this altcoin is garbage.Not only percentages matter, if it would, every "investor" would be looking for most volatile assets to bet on. Its not how it works.
Sure. I'm not arguing the value and usefulness of altcoins here. I'm specifically talking about price, in a trading and speculative investing perspective.
May 14, 2020, 10:49:40 AM
If you're referring to the bull run of 2017 specifically, then alts definitely outshined bitcoin in terms of price rise.
I don't agree with such analogies. If Bitcoin is worth $1000 and it will rise $1100 its 10% gain, but if some altcoin worth nothing like all altcoins go up from $0 to $1 its 100% price increase. Wow it outperformed Bitcoin by 90% points. It donesn't change that Bitcoin has value and this altcoin is garbage.Not only percentages matter, if it would, every "investor" would be looking for most volatile assets to bet on. Its not how it works.
May 14, 2020, 10:37:28 AM
At the moment Bitcoin is looking stable and rising but, it can still dive down by the end of this month. Altcoins might go up at that time, same as it was in 2016.
No, altcoins will never go up like 3 years ago if we still see many scam/fake project. Also, I think the total of altcoins is so huge, currently 7261 coin were listed in coingecko. I doubt investors will check and read all altcoins... probably they only read the top 100 coins. Nothing will change in the future, altcoins always become shitcoins, and bitcoin always become king of cryptocurrency.
You caught my eye @OP when I saw your username, seems you're evading ban from your main account vanminhcoin1
May 14, 2020, 10:30:19 AM
It would be hard to predict whether altcoins would outshine bitcoin in the next bull run. Many people have bad experience from some alts after the last bull run as during the bull, people jumped into every coins and every of them rose high but some were badly dumped while some were able to hold a value. This time the rise would be more selective. But still, some popular alts combined have a better chances of decreasing bitcoin's TMC below 50%.
May 14, 2020, 10:25:11 AM
It is not possible for the situation to repeat itself. The price of BTC in 2016 was $ 1,000. Now the price is around 10k $. A moment ago ETH was chasing the BTC price. Now you can see that Bitcoin is king ..
May 14, 2020, 10:16:19 AM
Investors are in better situation today than they were in 2016-17. It all started from 2018 when things changed a lot. At the moment Bitcoin is looking stable and rising but, it can still dive down by the end of this month. Altcoins might go up at that time, same as it was in 2016.
It is better to key an eye of Bitcoin at the moment. It is still below 10k and that is a good sign to accumulate more or take a position.
It is better to key an eye of Bitcoin at the moment. It is still below 10k and that is a good sign to accumulate more or take a position.
May 14, 2020, 09:47:47 AM
This will not happen again. It is unlikely that any altcoin will cost more than bitcoin in modern conditions.
Not again, investors have a basic knowledge of bitcoin today. And they all know that no altcoin will ever surpass it with their projects that's being proposed to them.the dominance of BTC is currently forming signs that it wants to rise higher from a technical perspective
The conclusion to this is the law of supply and demand. Rewards cut into halves and there's no other conclusion that it will lead but to the increase of bitcoin's price. May 14, 2020, 09:08:12 AM
If you're referring to the bull run of 2017 specifically, then alts definitely outshined bitcoin in terms of price rise.
Now, will the same happen? While I think that there will again be an "alt season", I don't think it will come close to the altcoin run in 2017, simply due to the fact that a lot of people who didn't sell early got burned, and it most definitely left a bad taste in their mouths.
Also, ICOs were quite new in 2017. A lot of people already know that there are lots of scams and bad projects in contrast to in 2017 whereas people pretty much believed every project's promises, including BitConnect.
Now, will the same happen? While I think that there will again be an "alt season", I don't think it will come close to the altcoin run in 2017, simply due to the fact that a lot of people who didn't sell early got burned, and it most definitely left a bad taste in their mouths.
Also, ICOs were quite new in 2017. A lot of people already know that there are lots of scams and bad projects in contrast to in 2017 whereas people pretty much believed every project's promises, including BitConnect.
May 14, 2020, 08:48:51 AM
Bitcoin dropped as soon as the halving 2016 was completed. The rate has dropped from 98% to 94% in just five days after halving, meaning the combined value of altcoins tripled compared to BTC.
Things can change quickly, but after just a few days, Bitcoin became the only notable cryptocurrency. Prior to that, in 2016, it seemed that there was a wild ride in the cryptocurrency space: millions of people were investing in random ICOs, Bitconnect launches and more. In short, investors are less educated about the risks of altcoin than now.
When halving Bitcoin just a few days away, investors are aware of the fundamental power of Bitcoin outperforming altcoins, making it more likely that BTC will witness huge profits.
Not to mention, the dominance of BTC is currently forming signs that it wants to rise higher from a technical perspective
So what do you think? Let me know your oppinion
Things can change quickly, but after just a few days, Bitcoin became the only notable cryptocurrency. Prior to that, in 2016, it seemed that there was a wild ride in the cryptocurrency space: millions of people were investing in random ICOs, Bitconnect launches and more. In short, investors are less educated about the risks of altcoin than now.
When halving Bitcoin just a few days away, investors are aware of the fundamental power of Bitcoin outperforming altcoins, making it more likely that BTC will witness huge profits.
Not to mention, the dominance of BTC is currently forming signs that it wants to rise higher from a technical perspective
So what do you think? Let me know your oppinion
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