Don't buy altcoins because they are top altcoins - page 8.

Rengga Jati

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Quote from: BlackBoss_ on December 21, 2022, 12:16:14 AM

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...

Because top coins will be replaced by other newer top altcoins that have newer development, necessity, and are also up to date. We can see how Litecoin and XRP were at that time. But, they were replaced by new altcoins, Ethereum. And after that until now, only Ethereum becomes more stable to be after Bitcoin. And now, BNB is following. Will these two still exist and survive in the top coins? It will depend on the utility maintained by the team.

Many top coins at that time couldn't even reach their previous ATH in the last bullish era. I still have some old top coins that are still holing in my wallet, because they are still not able to pass the previous ATH. But if I see the history, it may be too difficult for them to pass the previous ATH, because it seems like that their era has ended.

jossiel

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I've seen too many top altcoins in the past that they're nowhere to be found these days. I'm suggesting people to buy top altcoins if they want to but before doing that, they should get their hands on bitcoin.

So whatever they do, they won't regret it because they've got bitcoin. But it's true to be picky on these days with altcoins because you'll never know what issue might be brought up with the altcoin you've chosen to buy.

We unexpected the events that came for FTT, Luna, Ust and others that have fallen.

electronicash

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new projects always come up but the top ones are still there. they may have been outranked but their price still good.

but there is truth to top coins eventually falls its position. Bitshares was one of the token i use to have since my fellows in the chat community was somehow recommending. just like EOS being recommended back in 2017 and then failed miserably.

klidex

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Quote from: fzkto on December 21, 2022, 09:54:05 AM

Quote from: $crypto$ on December 21, 2022, 05:54:06 AM

Quote from: Crypt0Gore on December 21, 2022, 04:24:01 AM

Coins like, Peercoin, Namecoin, Feathercoin, World coin, and Novacoin are all the best shitcoins of their time, you can't use them to compare with Polygon Matic and Cardano, real use case and better adoption is what keeps coins at the top ranks that's why BNB and ETH will always be on top 10.

It's the same whether Matic or Cardano altcoins are not the right ones to buy even though they have real use their adoption is not that big except for bitcoin so now maybe they can be in big capitalists while altcoins always appear and are shifted to new coins but not with bitcoin still in the first until now.

So it's everyone's choice that each altcoin will always fall into the same hole, I don't think about any altcoins except bitcoin that I have in my portfolio.

So far, Ripple and Litecoin have held their own in the top-10-20 spot. You could probably add DOGE here. You might get lucky if you guess the right altcoin. For example someone was able to make money buying ATOM or Cardano. Bitcoin is of course much safer than altcoins. But these are cryptocurrencies, and there are still high risks.

For now it seems that there is still very little possibility of being able to take advantage of altcoin trading, whether it's Ripple and Litecoin coins, Doge or even Cardano.
Given the current market conditions that are still unstable and unpredictable, there is actually a very high risk of losing assets.
If you really want to trade, you should take an ETH coin which is still in rank 2, ETH has also experienced steady increases and decreases in price from day to day.
Although there is little profit by taking ETH coins, it is still relatively safe, not so high risk.
If there is a fairly large amount of cold money, we can also take Bitcoin to be stored in the long term with the aim of investing.

Jackl87

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Quote from: BlackBoss_ on December 21, 2022, 12:16:14 AM

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.

I agree with you here. I still remember back in 2017 when i made my first steps in the crypto space i think that both IOTA and also Waves were in the top 20 or even in the top 10 in terms of total market cap and look at where they are now. IOTA is at rank 68 and Waves is even lower ranked with 125. So i also think that the current ranking in terms of marketcap does not automatically mean that those projects will also be among the big gainers once the next bullrun starts. I mean obviously those projects already did a x100 at least in most cases or they would not be in the top places. That being said, i still think that if you are only owning small cap projects at the moment then now is a good time to get at least a few established projects into your portfolio.

seoincorporation

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Investing in altcoins is about knowing how to ride the wave, and is the best way to multiply your Bitcoins, but no one says it would be easy, users need to buy when the price is low and sell when the price is high, and to do this we need to follow the market signals and the media news for relevant events. For example, if we see in the news that Elon decides to incorporate Dogecoin to Twitter, then is time to buy doge because it will bump.

Buying Altcoins and hold for a long period is really risky, and personally, I don't recommend it. But remember, high risk can bring high profit.

el kaka22

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I still can't believe that Namecoin went as long as it did in the top 20 levels. For those, who do not know what namecoin was, it was a project where you could mine bitcoin and namecoin at the same time. You could't mine ripple because it was just two guys printing it out of thin air and saying it has a worth, still a shitcoin and was a shitcoin back then, and couldn't mine litecoin that way neither.

But since early days, I guess around 2010 and onwards up until 2016 or so Namecoin stayed relevant as much as it can, by simply being a coin you could mine at the same time as bitcoin, it offered absolutely nothing else and I still have a few, just for nostalgic reasons, consider it like antique shopping.

fuguebtc

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Quote from: _act_ on December 21, 2022, 03:45:21 AM

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.

I will agree with the OP that it is not advisable to buy top altcoins, as many of them will be replaced after each bear season ends. Investing in altcoins takes more experience and knowledge, don't just follow everyone's advice to buy the top 10 or 5 altcoins, it's a common mistake.

But I disagree with your opinion, never buy altcoins, altcoins still have the potential to bring even bigger profits than bitcoin. Investing in it, as I also said, takes knowledge to choose an altcoin that can make a profit. Investing in altcoins is not for the risk-averse, so if you don't like risk, then don't invest in altcoins.

Sterbens

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Quote from: d3nz on December 21, 2022, 09:25:43 AM

That's how the market flows, they can't make it up since they lack development and usually, those altcoins are able to make it to the top 10 because of hype. And, as of now, we look into the purpose of each altcoin and how it can help the cryptocurrency world and make the transaction much faster and easier to use.

This is actually the point of how far altcoins will survive amidst the onslaught of new projects that offer many advantages. And we're always going to see a shift in the direction where the top-ranking altcoins are sliding over each other. Hype is indeed one of the places where altcoins can penetrate the high market, but it is not uncommon for them to return to their original state after the hype for them has ended or even until they are no longer heard of the coin's existence. There are also those who use the hype as a first step for them to stay at the top of the list.

fzkto

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Quote from: $crypto$ on December 21, 2022, 05:54:06 AM

Quote from: Crypt0Gore on December 21, 2022, 04:24:01 AM

Coins like, Peercoin, Namecoin, Feathercoin, World coin, and Novacoin are all the best shitcoins of their time, you can't use them to compare with Polygon Matic and Cardano, real use case and better adoption is what keeps coins at the top ranks that's why BNB and ETH will always be on top 10.

It's the same whether Matic or Cardano altcoins are not the right ones to buy even though they have real use their adoption is not that big except for bitcoin so now maybe they can be in big capitalists while altcoins always appear and are shifted to new coins but not with bitcoin still in the first until now.

So it's everyone's choice that each altcoin will always fall into the same hole, I don't think about any altcoins except bitcoin that I have in my portfolio.

So far, Ripple and Litecoin have held their own in the top-10-20 spot. You could probably add DOGE here. You might get lucky if you guess the right altcoin. For example someone was able to make money buying ATOM or Cardano. Bitcoin is of course much safer than altcoins. But these are cryptocurrencies, and there are still high risks.

d3nz

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That's how the market flows, they can't make it up since they lack development and usually, those altcoins are able to make it to the top 10 because of hype. And, as of now, we look into the purpose of each altcoin and how it can help the cryptocurrency world and make the transaction much faster and easier to use.

sulendra12

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Quote from: Crypt0Gore on December 21, 2022, 04:24:01 AM

Coins like, Peercoin, Namecoin,

That coin was really something back in the day. You could literally had gotten decent amount of those coins by doing just faucet and the price was pretty "okay" despite mostly got it from faucets.

Quote from: Crypt0Gore on December 21, 2022, 04:24:01 AM

Feathercoin, World coin, and Novacoin are all the best shitcoins of their time, you can't use them to compare with Polygon Matic and Cardano, real use case and better adoption is what keeps coins at the top ranks that's why BNB and ETH will always be on top 10.

Mostly the ranks based from the volume and how well those coins/tokens traded in time span of time. So it's not depends on if they use real case or adoption at all. It's based around the value.
That's why if you want to invest your money into current altcoins, don't blatantly invest into top coins without any research at all. Things that are good today might be worse at later date.

$crypto$

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Quote from: Crypt0Gore on December 21, 2022, 04:24:01 AM

Coins like, Peercoin, Namecoin, Feathercoin, World coin, and Novacoin are all the best shitcoins of their time, you can't use them to compare with Polygon Matic and Cardano, real use case and better adoption is what keeps coins at the top ranks that's why BNB and ETH will always be on top 10.

It's the same whether Matic or Cardano altcoins are not the right ones to buy even though they have real use their adoption is not that big except for bitcoin so now maybe they can be in big capitalists while altcoins always appear and are shifted to new coins but not with bitcoin still in the first until now.

So it's everyone's choice that each altcoin will always fall into the same hole, I don't think about any altcoins except bitcoin that I have in my portfolio.

Crypt0Gore

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Coins like, Peercoin, Namecoin, Feathercoin, World coin, and Novacoin are all the best shitcoins of their time, you can't use them to compare with Polygon Matic and Cardano, real use case and better adoption is what keeps coins at the top ranks that's why BNB and ETH will always be on top 10.

_act_

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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.

Queentoshi

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Quote from: BlackBoss_ on December 21, 2022, 12:16:14 AM

If you buy altcoins, please don't buy them because they're top coins.

The top position was not meant for any coin in particular. The reason bitcoins are still on top is because realize their importance and how solid the project is, that's why it has remained on top. Don't buy altcoins because they are on top or simply because everyone is talking about them, before you choose to buy any altcoin, follow the advice that is usually given here by the more experienced persons in our midst that you should always do your research and decide for yourself if you are willing to risk it or not.

BlackBoss_

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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.