Top altcoins that currently have high prices and are in a bull market or altcoin season are not good to buy because there is a possibility that their prices will drop sharply after a massive correction occurs in the market. And the list of top altcoins will always change due to technological developments in the crypto field. Hence, there is interest in new projects that can provide more benefits than previous projects.
Maybe ETH and BNB are still on the list of top altcoins but we don't know where they will be in 10-20 years. Of course, crypto technology will always develop and provide something different, and that's where ETH and BNB will compete with coins or tokens from the new project.
Topic: Don't buy altcoins because they are top altcoins - page 7. (Read 1419 times)
Top altcoins are at the top consistently because they offer some value in them. And because they are already established, their price aren't that wobbly and moving all the time so the opportunities to make money on them short-term is already not there. You will have to invest on riskier altcoins that are relatively unknown or way behind the top list and hope for the best. In my experience, those alts that aren't at the top are usually the moneymakers for a certain time frame, and after that is over it's great to keep your funds at the top altcoins for the meantime and get some trickle of % per day—of course you'll only do this when that top alt is in the green.
The crypto market is very fast changing and difficult to predict, all kinds of changes are very possible so don't always assume that the coins that currently control the top 10 CMC will still control them in the next year or the following years, especially if these coins have never had development which obviously doesn't have a clear product either.
Perhaps, the idea of buying Bitcoin only is not a great idea for me. Altcoins are also profitable and sometimes even more profitable than Bitcoin. But, it doesn't mean we have to invest in any altcoin without any thorough research otherwise we just fall into scam coins that are already flooded in the market.
What I can say OP is that making a choice of investing that you know was profitable and most of all it has a working product as it gives some ROI assurance.
Honestly, I consider those coins that are on the top 10 to be a greater choice but I haven't chosen them all, why? I'd rather choice 3-5 coins in bulk than buying number of different coins.
What I can say OP is that making a choice of investing that you know was profitable and most of all it has a working product as it gives some ROI assurance.
Honestly, I consider those coins that are on the top 10 to be a greater choice but I haven't chosen them all, why? I'd rather choice 3-5 coins in bulk than buying number of different coins.
It would have been better if the advice is to never buy altcoins at all, that is just it. If you do not buy the altcoins at the top if using market capitalization for it, buying those with lower marketcap, there is still possibility that the coin may be shit coin. What I know is that some coins took over the top ones except for bitcoin and ether, but the coins still increased in price.
That is the safest investment plan you can have in this industry because of how brutal they can be if they won't recover after this bearish market. Some of those top altcoins didn't recover after the mega bull run last time. now that they are collapsing and some are truly crashing, you cannot assure if they even have the opportunity to bounce back again once the price of bitcoins recovered. others have considered not buying anything from altcoins because of the huge investment they have in bitcoins and trust in it. only bitcoins have stayed at the top since it was created and they will be the only one to remain until the next 10 years from now.
Ethereum and Ripple have been around for a long time, but if today looks at Ethereum then I prefer to invest in Ripple. Ripple has held strong against the SEC, due to the powerful forces that maintain decentralization. Seeing that Ethereum has switched to PoS creates a lot of friction because government involvement can easily be controlled remotely.
Not all crypto projects can hold strong against SEC lawsuits. Ripple is rich and already spent more than $100M for their lawsuit with SEC. You will not be able to find many big and rich crpyto projects like Ripple.If Ripple fails in the lawsuit, it won't be the end for them. They can pay a fine and continue to operate. However I really hope that Ripple will win the lawsuit because if SEC wins it, it will be terrible news for other crypto projects.
For not top altcoins, it is more horrible.
How Many Cryptocurrencies have Failed?. You would be shocked by this infographic.
How Many Cryptocurrencies have Failed?. You would be shocked by this infographic.
There is no real benchmark except for bitcoin which is the pinnacle of any crypto investment able to maintain its value. Does notice crypto feel like Luna stealing the show? isn't that proof that even if the top crypto if apart from Bitcoin then there is nothing really promising. Ethereum and Ripple have been around for a long time, but if today looks at Ethereum then I prefer to invest in Ripple. Ripple has held strong against the SEC, due to the powerful forces that maintain decentralization. Seeing that Ethereum has switched to PoS creates a lot of friction because government involvement can easily be controlled remotely.
As an investor we must always be vigilant, currently there are more than 22k altcoins available but most of them are shitcoins, if we are daily trading then I suggest choosing new listed coins, price fluctuations are usually very high, but if we focus on the long term then we have to invest in the top rank coins.
People should start adding higher criteria to say a top altcoin, such as if it has been able to maintain a minimal position over a number of years and wasn't just built overnight. Getting to the top position is a difficult process, sometimes there are some "side" methods that escape public awareness to achieve it. Some protocol errors can also be the biggest risk, generally this kind of project is built on chasing the hype.
Ethereum has always been at the top. And it has somehow established its role in the crypto ecosystem. I guess it is becoming more and more solid over time especially with the series of upgrades that have already implemented and those that have yet to be implemented. Ripple has also managed to stay there despite hardships especially against regulatory bodies. But this doesn't mean the ones at the top are safe. The rest of the coins at the top have been coming and going.
Until now, when it comes to altcoins, I only believe in ethereum. But if you notice, there was a time when XRP was above ETH, but then ETH overtook and dethroned XRP as the altcoin queen, and with the development of new altcoins, I believe XRP will soon lose its place in the top 10.
As for other top coins, I would favor BNB a bit more, the rest, I believe will all be replaced by better new altcoins soon. Top coins are not as good as we think, to invest in altcoins, we need to research and analyze carefully, even if it is top coins or new.
- I just noticed OP, like you many people said that. But despite their reminders, there are still many buyers who are told that they are coins that should not be bought anymore.
Just like the example of Luna and FTT until now there are still traders who keep buying it on binance and if you look at the volume in one day it can still be considered high compared to other coins that are also listed on Binance. This means that until an exchange platform does not remove it, there will still be people who will buy it because until the exchange gets some benefit, even if there has been a scandal in the industry, it will not disappear in the name of profit.
That incident tells us that even a good coin before can experience such problem, so there's no safe altcoins at all and if you want to be safe then go for Bitcoin. Just like the example of Luna and FTT until now there are still traders who keep buying it on binance and if you look at the volume in one day it can still be considered high compared to other coins that are also listed on Binance. This means that until an exchange platform does not remove it, there will still be people who will buy it because until the exchange gets some benefit, even if there has been a scandal in the industry, it will not disappear in the name of profit.
There's always a risk, what you can do is to keep analyzing the market and know where to put your money, don't just buy because of the suggestion of the others, buy because you see the potential of that project and you think you can make profit on that. Top altcoins is not guaranteed, we have to remember this and stay cautious with our investments.
- I just noticed OP, like you many people said that. But despite their reminders, there are still many buyers who are told that they are coins that should not be bought anymore.
Just like the example of Luna and FTT until now there are still traders who keep buying it on binance and if you look at the volume in one day it can still be considered high compared to other coins that are also listed on Binance. This means that until an exchange platform does not remove it, there will still be people who will buy it because until the exchange gets some benefit, even if there has been a scandal in the industry, it will not disappear in the name of profit.
Just like the example of Luna and FTT until now there are still traders who keep buying it on binance and if you look at the volume in one day it can still be considered high compared to other coins that are also listed on Binance. This means that until an exchange platform does not remove it, there will still be people who will buy it because until the exchange gets some benefit, even if there has been a scandal in the industry, it will not disappear in the name of profit.
Many coins lose their top positions and many of them are dead coins too. Some dead Bitcoin forks, Bitcoin Cash, Bitcoin Gold, Bitcoin SV. Lately in 2022, Terra and FTT are latest top coins fell to the hell.
~snip~
From the image above we know that the trend is always changing, many of them fall into a bear market but can't get back again because they didn't follow the trend. Many projects should adapt to the changing world trend if they want to survive. If we invest in any token we should follow their current news their current development and their current progress. Well it's still better to invest in top coin rather than shitcoin.
OG's top altcoins are much better compared to these new projects that started to pop on the top market cap.
For now, after the recent projects that are alternatives for Ethereum are starting to fall, and guess what, Ethereum is still here. So, for me, Ethereum will stay as it stays since day 1. Ethereum deserves to be on top 2 highest market cap.
For now, after the recent projects that are alternatives for Ethereum are starting to fall, and guess what, Ethereum is still here. So, for me, Ethereum will stay as it stays since day 1. Ethereum deserves to be on top 2 highest market cap.
Ethereum has always been at the top. And it has somehow established its role in the crypto ecosystem. I guess it is becoming more and more solid over time especially with the series of upgrades that have already implemented and those that have yet to be implemented. Ripple has also managed to stay there despite hardships especially against regulatory bodies. But this doesn't mean the ones at the top are safe. The rest of the coins at the top have been coming and going.
Top coins changes since 2013 to 2022
Coinmarketcap Cryptocurrency Historical Data Snapshot
Many coins lose their top positions and many of them are dead coins too. Some dead Bitcoin forks, Bitcoin Cash, Bitcoin Gold, Bitcoin SV. Lately in 2022, Terra and FTT are latest top coins fell to the hell.
If you buy altcoins, please don't buy them because they're top coins.
Since 2013, only Bitcoin, Litecoin and Ripple are there till 2022.
Since 2016, Ethereum is always there.
Since 2018, Binance BNB is always there.
Binance looks good with BNB and BUSD. Binance BNB ranked 16th in 2018 and Binance USD ranked at a same position in 2021. Now BNB is at 4th and BUSD is at 6th.
For not top altcoins, it is more horrible.
How Many Cryptocurrencies have Failed?. You would be shocked by this infographic.
I remember doing the same experiment years ago and I was surprised at how abrupt the changes were even at the top of the market, and these snapshots understate the truth as there were many coins that got to the top 10 and then went out of it in less than a year so you cannot see them in the snapshots that you took at all, I hope that once newbies take a look at the snapshots they understand that just because a coin is on the top 10 now it does not mean that it will be there tomorrow as altcoins can go down in the blink of an eye. Coinmarketcap Cryptocurrency Historical Data Snapshot
Many coins lose their top positions and many of them are dead coins too. Some dead Bitcoin forks, Bitcoin Cash, Bitcoin Gold, Bitcoin SV. Lately in 2022, Terra and FTT are latest top coins fell to the hell.
If you buy altcoins, please don't buy them because they're top coins.
Since 2013, only Bitcoin, Litecoin and Ripple are there till 2022.
Since 2016, Ethereum is always there.
Since 2018, Binance BNB is always there.
Binance looks good with BNB and BUSD. Binance BNB ranked 16th in 2018 and Binance USD ranked at a same position in 2021. Now BNB is at 4th and BUSD is at 6th.
For not top altcoins, it is more horrible.
How Many Cryptocurrencies have Failed?. You would be shocked by this infographic.
If you buy altcoins, please don't buy them because they're top coins.
Since 2013, only Bitcoin, Litecoin and Ripple are there till 2022.
Since 2016, Ethereum is always there.
Since 2018, Binance BNB is always there.
These are the proof that those top coins can be more profitable sometimes and that could be an assurance that they can be still here in the market despite of the market FUD and market situation. There's no need to go all in with the top altcoins, and yes profit is still not guaranteed with them this is why timing is very important, you should know when you will buy and sell to secure profit and secure your wallet from any big losses. Since 2013, only Bitcoin, Litecoin and Ripple are there till 2022.
Since 2016, Ethereum is always there.
Since 2018, Binance BNB is always there.
The top list have remained the same. Some variation have happened with few altcoins entering into the top 50, top 10 and all of the sudden dropping down to valueless. Whether it is bitcoin, altcoins on the top order or something else. Everything have got risk, in that way we can't trust anything. The market is driven over the trust, so whenever making an investment on altcoins it is good to go with the amount one can afford to loss.
after so many crashes involving these biggest coins like luna and the likes i'd say that even these biggest coins aren't really safe for investing, they could quite literally crash anytime that's just how weak their foundations are, just some whales make a massive sell off and the coin is done for, even worse if there's fuds, therefore sometimes I think that investing in coin that's relatively low in term of market value is still the right way to go if the risk is all the same. maybe the fluctuation is worse but at the end of the day even these so called biggest coins also have some really bad fluctuation.
investing in them is definitely fine, the only thing that you should think twice is investing in them when their value is already too high, that's definitely the wrong moment if you gonna make entry because there's just simply higher probability that you just gonna outright lose your investments since there's no way the value gonna go even higher, even though in some rare cases it might go even higher but you should rule out that possibility since you're not gambling but investing.
Jump to: