EuroMotif

Are we witnessing an "Extinction Event"? Alt Coin herd thinning?

CRYPTOCAP:BTC.D   Market Cap BTC Dominance, % (CALCULATED BY TRADINGVIEW)
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.



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Comments

Pretty much yes.. slaughtered more.
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all these alts are useless garbage. there is only btc.
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i'm agree.. i think there would be 1 more pump for alt-season before it becoming entirely a history.. also i think there is more bag holder to be dealt within most altcoin which i dont think 2017 ATH will be likely to achieve. i could be wrong just an opinion.
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I think you'll see some of those new projects that came out in 2018-19, and haven't had their first good pump, pump before money floods back into the safer ones, like XRP
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@BMLemon, Agree 100%. "haven't had their first good pump" lol :)
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BMLemon EuroMotif
@EuroMotif, pump like you've never pumped before.... looking at you NPXS.
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these shitcoins goin down yes but xrp not on ya life bud this baby is goin up
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EuroMotif semajftw
@semajftw, gotta agree that xrp will be one of the survivors.
I am thinking the ones in the CoinBase stable have best chance of survival because they will have been 'vetted' both in terms of the team/org and in terms of SEC complications.
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So poetic! Brilliant!
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@Cruz182, hehe, thanks!
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