At the end of 2017 at the peak cryptopsaras many investors all tried to find the “second Bitcoin”. They were buying large quantities of various alternative crypto-currencies and in the process learned that many of them — whether the Ethereum, Ripple or Litecoin — also brought more than 1,000 percent, and even surpassed Bitcoin in the dynamics.
Eventually the bubble did burst, and Bitcoin, along with all Althingi lost at least 85 percent of the cost. So many investors were left with a wide range cryptotokens in their portfolios, but without real money. 2019 showed us a slightly different scenario: Bitcoin grows throughout most of the year, while altcoins do not serve any significant signs of life. This situation provoked the emergence of a new wave of Bitcoin maximalist, about which we already wrote. We are talking about people who believe exclusively in Bitcoin and other coins are predicting death. However, there are analysts who believe it is not best practice, because this oraz captainvalor might miss a diamond in the rough.
Surrender altcoins and brand a “safe Harbor” to motivate the Bitcoin maximalist
Surrender and uncertainty possess the alternative cryptocurrency market during the second half of 2019. During this time, the asset class even showed a significant decrease in correlation with Bitcoin, that is related to the movement of its course.
...and now crashes regardless of the price of the largest cryptocurrencies.
In turn, the rapid growth of BTC seems to be sucking out of the market altcoins all the juices accumulating sense of panic. Now even the most ardent supporters of altcoins are thinking about Bitcoin. Maximalists believe that only Bitcoin can survive as a financial technology, and most of the altcoins on the market is simply not needed. Often cryptosuite criticize altcoins, or prefer not to contact them.
Says early captainvalor Arianna Simpson, “although the dynamics of Bitcoin over the past year, outstripping the performance of most alternative cryptocurrencies, this does not mean that it will always be”. Also note that she is the founder and managing Director of the Fund Autonomous Partners, which invests in crypto currencies and digital assets. Simpson reminds cryptologist about the days when Bitcoin was considered outdated and Ethereum, for example, was ahead of him on the part of the margin and potential profit from investment. And believe in one-man rule of Bitcoin is just short-sighted.
Given the number of professional teams involved in the development of kryptonite and infrastructure, it is unlikely that in the next few years the rest of the market will collapse to zero.
That is, it encourages you to believe in Bitcoin, but don’t be shy to contact with other coins. And here is the tweet.
9/ So in sum, I believe claims that “alts are dead”, and bitcoin alone will make it are nonsensical. I am most definitely long BTC. But call me after you’ve tried deploying an app on ethereum versus bitcoin — alternative chains might not seem so useless after all! ?
— Arianna Simpson (@AriannaSimpson) August 21, 2019
Bitcoin maximalism is growing not only because of the depreciation of altcoins
The trend is rather linked to the transformation of the role of Bitcoin from the tool preserve the values in the “safe Harbor” in anticipation of economic shocks. On the background of falling stock markets, and other failures caused by the panic selling of portfolios, investors are unlikely to lead to risks inherent to the unstable alternative cryptocurrencies. Bitcoin is the same, despite relatively high volatility, i.e. price fluctuations during the conditional time period, is still the least risky option. And I say this to the constant growth of the network of the coin, the recognition of the regulators and, of course, ten years of age of the asset.
Whether Bitcoin maximalist you? Or still keep a couple of violas? Uncover the mystery in our cryptodata. There are also a lot of other useful information.
Subscribe to our channel in the Telegram. Bitcoin around the head!