Max Keiser is a pretty famous trader who has been showing a lot of support for Bitcoin and cryptocurrencies. He’s made price predictions (saying that Bitcoin could go up to $300,000) and is generally upbeat about the market in interviews and discussions.
He’s now made another statement which is already a talking point in the cryptocommunity. Keiser tweeted that in the coming future, Bitcoin will almost completely dominate the market, with altcoins and hard forks from the 2014-2017 era dying. Keiser said earlier this week that Bitcoin would cross $15,000 this week. There’s still some time left for that, but it’s currently in the $11,500 range.
The crypto market is currently flooded with altcoins - most of which don’t have a working product. Altcoin purges have happened before and many tokens that were once in the top 50 are now far back in market cap or have ceased development.
So there is some truth to what Keiser is saying, though generally speaking the quality of projects that have emerged in more recent times has been better - probably because people understand the technology better and time has matured the market.
Tokens like Basic Attention Token, Binance Coin and Cardano have been doing pretty well this year in terms of development and expansion.
Still, most people rely on Bitcoin for their long-term investments. With some research and a careful eye on the market, however, altcoins can be the real gainers - and maybe people will see this in the 6 months.