When will the Altcoin cycle start?

in #bitcoin7 years ago (edited)


The last three months were completely dominated by the leader of all cryptocurrency Bitcoin.
All the altcoins have been seriously thrashed in the past three months in which Bitcoin's price has quadrupled from $3500 to $13800.
Since the bitcoin cycle has been going on the past few month , everyone are looking for the next altcoin cycle to take some profits.


But the question now is " WHEN WILL THE ALTCOIN CYCLE START?"

In late 2017, the cryptocurrency market arguably captured attention in the financial sector. The price of bitcoin almost reached $20000 in that time period.

The following year, many cryptocurrencies saw these gains virtually wiped out as the market endured a prolonged bear decline. The average price dip across the board was more than 80%.

Altcoins are also down by more than 80% since the peak of altseason.

Most altcoins provide little-to-no tangible value or real-world use. Expect these altcoins to evaporate in short order. However, there is tremendous user-driven momentum in cryptocurrencies that are providing real-world utility on blockchains with tangible value on key industries around the world.

Many altcoins benefited from the last bull run in $BTC. Cryptomaniancs expect alts to do so again — they may be very disappointed. 2000 .com bubble is analog. Following 2001-02 tech collapse, dotcoms with real value exploded. The ‘alt’ .coms went bankrupt.

Whether judgment day is at hand for altcoins remains a matter of debate, but there are some projects already showing disturbing signs. A report by blockchain data analytics firm Coinmetrics, for example, showed that a weather app was responsible for about 96% of the total transactions on the Bitcoin SV blockchain.

The altcoin cycle may start when bitcoin dominance reaches above 75%.

see y'all in my next post.
Thank you

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