Are we witnessing an "Extinction Event"? Alt Coin herd thinning?
We have all watched Bitcoin rocket and Alts deteriorate.
Alts have been dropping not just against BTC but USD also.
Many have hit new All Time Lows, with very little bounce.
We all know that there are way too many "me-too" coins.
Sure some of them are great Concepts with good Teams.
But are there really 1000's of ways to use the Blockchain?
We also know the newbie chase for the "next Bitcoin".
The King is proving that there will never be another.
Investors have come to realize and are returning to BTC.
Governments have given no clarity about token/ico sales.
Institutions entering will only invest in 'approved' coins.
ETF's and regulated securities will only cover a few coins.
I do expect ONE more pump of the alts, perhaps next Alt season.
That, in my opinion, will be the LAST gasp for many of the alt coins.
Bitcoin DOMINANCE (upper left-most) should keep its rhythmic climb.
Of course many of these coins will Bounce here shortly.
Of course many new projects will yet be Birthed surely.
Of course many newbs still seek a new Bubble to blow.
But the music will stop with far less Chairs than Players.
Alts have been dropping not just against BTC but USD also.
Many have hit new All Time Lows, with very little bounce.
We all know that there are way too many "me-too" coins.
Sure some of them are great Concepts with good Teams.
But are there really 1000's of ways to use the Blockchain?
We also know the newbie chase for the "next Bitcoin".
The King is proving that there will never be another.
Investors have come to realize and are returning to BTC.
Governments have given no clarity about token/ico sales.
Institutions entering will only invest in 'approved' coins.
ETF's and regulated securities will only cover a few coins.
I do expect ONE more pump of the alts, perhaps next Alt season.
That, in my opinion, will be the LAST gasp for many of the alt coins.
Bitcoin DOMINANCE (upper left-most) should keep its rhythmic climb.
Of course many of these coins will Bounce here shortly.
Of course many new projects will yet be Birthed surely.
Of course many newbs still seek a new Bubble to blow.
But the music will stop with far less Chairs than Players.
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