Whether altcoin's explosive logic holds water
As of 8:30 am on November 6, the total market value of digital currency is $2428.1 billion, excluding bitcoin , which is $74.8 billion. This wave of market, we have seen an obvious phenomenon, is speculation altcoin. As bitcoin's share has declined, many previously committed bitcoin holders have begun to wonder if there is something wrong with them. Start selling bitcoins and buying altcoin. Is this a repeat of April 2018?
We cannot see this logic at any level. The backdrop to 2018 is the great leap forward in ico , when the market value of new supply surged. At present, there is no basic support, what is the logic of hype altcoin?
Is it based on China's loose policy on blockchain? It is far-fetched to say that blockchain is cryptocurrency, and the Chinese government has always supported blockchain without currency, so the purpose and basis of this hype are not clear.
I suggest that we should pay attention to risk control. If the market in the first half of this year is those trapped whales, institutions of the solution set market, then this wave may be the project and "pyramid selling", "banker" the best opportunity to run.
Strategy: this is not a buying opportunity, please wait for the trend to clear, bitcoin is more valuable than most altcoin in the long run