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RE: Bitcoin Dominance Hits 3 Month Highs
It's great that the fundamentals of bitcoin are improving (lightning network and lower transaction fees). Bitcoin at $11K is pricey and even if it hits $40k you are only making about a 4x return. Altcoins have better returns and it is good to diversify. I agree bitcoin may return to its mean of 50%, but other altcoins could still outperform. Hold a basket of cryptos to minimize risk and maximize return!
Some of the altcoins are dying.
As they should. Let's start flushing crap down the sewer sooner versus later.
Yeah it doesn't seem like we should need over 1,000 coins. I'd guess we probably only need about 100 maybe even less. I also think consolidation will be very good.
Not sure we even need 100. In the end I'd be surprised if the form of the industry wasn't three big blockchains have 90% market share
And a bunch of little niche players end up with 10% share between 40 niche players
I think steemit will be getting smart media tokens. I think those might be similar to alt coins. We'll probably have at least a dozen of those on here eventually but yeah the top 3 or 10 tokens should have a huge portion of the market share.
I love how you say 40k is "only" a 4x return. We can't expect to see the sort of returns last year keep going forever. 4x return in a year would be phenomenal. People need to re-calibrate their expectations.
Agreed. I'll take 4X any day. All day long.
Return on US stocks since the crash of 2008 is less than 3X. After 10 years.
People need to recalibrate how amazing a 4X return is.
Solid analysis. There will always be swings from bitcoin to altcoin and vice versa. Diversification is key as you said!
Diversification is key since no one really knows who long term winners will be
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