Is This The Death Of Altcoins?!

in #crypto6 years ago

 You might have realized that Altcoins have been suffering while Bitcoin dominance is going up. Many of our favorite Altcoins have taken another major hit. The Satoshi value of most large caps is still depressed compared to back when BTC broke beneath $6,000.Take a look at this:BTC is currently trading at $7325 (21. July 2018)
ETH – 0.062
LTC – 0.011
NEO – 0.0045
BCH – 0.10 (weak)
XRP – 0.000061Compare this against the BTC trading under $6,000 in June:ETH – 0.07
LTC – 0.0124
NEO – 0.0046
BCH – 0.112
XRP – 0.000074While BTC has seen a nice recovery from its June’s low (from 6k to 7.8k), Altcoins have even suffered more. What does this mean though? It shows that fresh money only went into BTC, not into Alts. Only a few exceptions like Stellar Lumens (XLM) experienced significant increases but this was due to a bunch of positive news for Stellar. So, if fresh capital is only coming into BTC, one hypothesis is that only the leveraged shorts were being wiped out. It seems like that fresh capital is still not entering the market.This raises the question of what is happening to Altcoins? Are they dying out? Will they ever come back or have we all just overestimated their worth?First, most of the Altcoins are still trading way too high for a simple reason: they are shitcoins. For example, useless Bitcoin forks like Bitcoin Gold or Bitcoin Diamond are almost worth 800.000.000 together which shows that there is still too much money in the wrong projects. On the other hand, everyone is expecting the potential BITCOIN ETF (that MIGHT be approved by the SEC on the 12th August) which could lead to many people anticipating a BTC rally up to this date. It seems like nobody is really caring about Altcoins in the moment. BUT – yes. there is a huge BUT- if you think Altcoins are going to die, you are on the wrong side. All the talk about a Bitcoin ETF is reasonable and interesting as people still have in mind what happened to Gold when an ETF was approved (went up parabolic the following years) and acted as a gateway for institutional money.We believe that the same can happen to Bitcoin. BUT the same will happen to Altcoins as well. Keep in mind that many big funds will come up like the Binance Ecosystem Fund (or the one from Coinbase) that will trade more than just Bitcoin. Many fundamentally strong alt coins will be an essential part of those funds. Besides, the crypto project Ethos will open a FIAT gateway which will obliterate Altcoins dependency on Bitcoin (that’s huge news folks).The future for Altcoins is brighter than ever, however, it is up to you to be invested into those very few projects that will disrupt industries and will be the ones on the level of Microsoft, IBM or Apple. At the moment. we have more than 1500 Altcoins and it might be hard for you to chose which ones will be game changers and those that are just looking fancy on the surface but have no underlying substance.This is the reason why we at CryptoMedics have built an exceptionally strong Fundamental Analysis Department to spot the strongest and most promising projects in the industry for you and us. Why caring about 20-30% gains when you can have more than 1000% gains with a healthy amount of patience and due diligence?Talking about the month of August, it seems like there might be already very interesting opportunities for Altcoins. These are our coins to watch for the Month of August with some additional commentary:Take the recent BTC pump for example. While the market is now red, XLM is still up after the news about a potential Coinbase listing, (as well as ADA). Also, Coinbase is a common gateway for US and with institutional money flowing in, XLM, ZRX, ADA, 0X and BAT will be the first coins discovered. This will make them explode. Coinbase said: “We are exploring the addition of several new assets, and will be working with local banks and regulators to add them in as many jurisdictions as possible“. It does not mean each of these assets will eventually be listed but chances seem to be quite high.KCS: Kucoin is a top 10 exchange and Bittrex is failing. Kucoin is a good exchange but it has liquidity issues and a bot problem so maybe their incentive of buying back and burning their coin as well as sharing profits could bring them some more money and liquidity pushing it into “Top 5 exchanges” rankings.ELA: Framework for mobile web applications will be published and it will be open source! ELASTOS is one of our current gems and we believe it can become massive. ELASTOS is an operating system, a decentralized internet and a Virtual Machine (VM). It aims
to improve security by using the blockchain as an internet protocol and it allows dApps to run across any operating system – including phones. Here is our detailed article about ELASTOS: https://drive.google.com/file/d/1oeenXAWwI8KMN30wfZ-qTWF56EgSDzKB/view?usp=sharingADA, BAT, 0X, XLM: Potential Coinbase listing, we all remember what happened with BCH.Bottom line: The death of the Altcoins is nothing more than a fairy tale that helps the smart money to invest cheaper while the dumb money is selling their best holds. Yes, about 90% of the existing Altcoins may die out, but this is not the death of the alt coins. A potential ultimate rise of the fundamentally strong altcoins that will bring you future wealth is very likely. The only thing to do is to spot them and invest now.