Today I want to talk about altcoins and what is up with altcoins? And most important:"When the Altcoins will go up?"
Right now Altcoin market is down and one of main reasions in my opinion is that there are too many altcoins out there.
Right now there are 897 altcoins on Coinmarketcap, atleast 40% of them are Nonworking projects or just copy paste. We call them Shitcoins.
What is Shitcoins?
A coin with no potential value or use.
Most of 897 Altcoins was made in 2017, allmost 40% of all 897 altcoins. That means Year 2017 diluted altcoin market and lot of them are Shitcoins.
This market situation defently will not help altcoins that has potential and real value, it taking value away from them.
Why people invest in Shitcoins?
If we go back again in 2017, there was a lot of new investors comming in, who's main goal was "Get rich quick" everybody was looking for Next Bitcoin. There was lot of hyipe about Cryptomarket , everybody was talking about CNN, Bloomber etc, and that leads us to new investors , unprofessional investors, who was investing there money, life saving in that time cheap coins with no value. It was like 2006/2007 Real Estate Bubble, too many new unprofessional investors came in and shake down the real estate market.
The Main question: " When The Altcoins Will Go Up Again?"
Yes, but first we need to wait that the cryptocurrency market makes corrections and all coins with no value or use will disappear, atleast most of them.
So this is right time to invest your money in cryptocurrency and most important invest your money only in those project who you Bealive.
I think in 2019 there will be a lot of new Cryptomillionaires out there, but remember be smart.