Cryptokoin.com - Leading cryptocurrency Bitcoin lacks a significant movement for a long time and has been running horizontally. This situation has shifted the focus of investors to altcoins, which have realized large price increases. Bitcoin's market dominance has dropped from a high level of 70% to a low of 61% in the past few months. Famous Bitcoin developer Jimmy Song made a critical statement about altcoins and stressed that predicting the next altcoin to explode is a "zero sum game".
Here are the altcoins that have exploded by exceeding 3,000 percent recently.
We have been seeing a lot of altcoins in recent days that have risen to all-time highs after explosive gains. The latest example is Elrond, which has filled the pockets of the investors with an increase of 3.300% in the last 4 months. Elrond fell to $ 0,0007 on March 17, but climbed to $ 0.016 a few days ago. This was a huge rally that raised Elrond to the top 50 in Coinmarketcap with its market value.
Elrond is not the only cryptocurrency that has experienced a huge bull rally, but many DeFi projects have gained intense attention lately. Another noteworthy example is the Compound (COMP) listed on Coinbase and FTX. This altcoin was pumped up to $ 349, with a market value of $ 900 million, after a starting price of $ 71. Frankly, altcoins are sailing, thanks to Bitcoin's low volatility, among other reasons. Can he guess whether an altcoin will be pumped or not?
Jimmy Song: Predicting the next altcoin to be pumped is a zero-sum game!
Just recently, Bitcoin developer and entrepreneur Jimmy Song stated that trying to guess the next crypto coin to see the pump is a zero-sum game. In addition, Jimmy Song said, “You are playing this game against 'traders' who know very well what they are doing. Who do you think will win? ” said. Basically Jimmy Song implies that regular and small investors do not have a chance to win against more professional traders.
While many agree with Jimmy Song, some criticize him heavily, stating that cryptocurrencies are actually the best for such speculative games. However, as a result, others have to lose here to win. According to experts, keeping this in mind, trading cautiously