Altcoin market is extremely bearish and bitcoin dominance exceeds 70% since March 2017,which is highest in over 02 years.Influencers on YouTube,Twitter etc have turned their view about ALTCOINS,found saying'not much life in alts'
Can you imagine a market without Altcoins ?
People say bitcoin is;
-Digital Gold &
-Payment mechanism
(If so,why we have to wait ..... 1/2 hour to day long ...... for our deposits/withdrawals )
Although,bitcoin is a store of value,but if there weren't Altcoins,then how could we explore or find following concepts of:
Decentralized apps(dapps)
Crowdfunding/Fundraising(like ethereum)
Decentralized Finance.....Defi
Smart contracts
Privacy Protocols(like monero)
Another best projects are chain link,BAT,0x protocol,Khyber network,EOS,Nexo etc,.
Now can't say,Altcoins have no space in the crypto universe.In short term there may be some zig-zag low price movement like today we are facing.I am not talking about shit coins.
Finally,
we can say Altcoins (except shit coins)are not going to die.
Conclusion:🐂🐂🐂🐂🐂🐂🐂🐂🐂🐂
Get in Altcoins early,but make a decision with keen DYOR.
1)....Have good or great gains?
Become a high risk taker to invest in Alts or a moderate risk taker to invest in bitcoin.
2)....Contrarian view.
Go against the crowd.BTC may give a moderate gain necessarily even 500% in next coming years but not today / in short term.
3)....Select research biased coins.
Only choose those coins which have a use case or technically strong and have a good team.
4)....Follow own perception.
Do your own research....DYOR.....and don't follow blindly because historical data reveals Alts never died(except shit coins) in btc increased dominance.
Charts: Taken from trading view.com