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RE: Marketcap: $250T: Understanding The Potential Of Blockchain And Where The Power Comes From
Even if our market cap increases, chances are our coins won't be. BTC and ETH is being sold for shitcoins and ICOs, which is then getting sold by the ICO team as we hold their shitcoins. Their shitcoins add "value" to the total market cap, while driving big coin prices down.
There are too many people looking for a x100, which is why our big coins are suffering, since the money from BTC is getting diluted into too many alts. I personally predicted that BTC would fall from number 1 this year, and I still believe it will. No idea which coin will replace it though, but I'm sure as soon as there's another bull run, BTC dominance will fall as people discover more promising projects to invest in, and shitcoins ICOs to x10 from haha
You clearly have no idea what you are talking about. Do you have any time perspective? Bitcoin was at 2000 dollars a year ago.
Yeah, people bought BTC and ETH to participate in ICOs, thus making it rise.
Now, those ICOs have ended and teams are selling off their BTC and ETH (think EOS for example?) which is causing the prices to come crashing down.
Furthermore, more and more of our total market is going into smaller market cap coins, as the number of currencies keep going up. I hope you can understand this hahaha
The price is higher than a year ago. Which means you are delusional there hasn't been any crash. You just have a flawed time perspective. You have to look in 5 year times. Not lambo timeframes.
Fair enough, it's true I've only been investing for less than a year haha
However, if you think about it logically, I still think BTC will continue losing market dominance and alts will continue to rise. Also, if 65% down isn't a crash, I really don't wanna see a "crash"
65% down is regular in Crypto. Even 100% down is regular in a market like this haha. I don't have emotional attachment to numbers the core thing is they are still scarce assets in supply. Fiat will never be scarce it will always devalue