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RE: Bitcoin ATH Over 5500 USD - Lets See The Markets
I don't understand if it good news for the cryptocurrency market or not.
On one side bitcoin is on a role while on the other hand majority of the altcoins are marked red.
Anybody with an answer?
At least 50% of the alt coins are shit coins that wont be around in 5 years. They are the pets.com of the crytpo era. You recall how big the fall was of pets.com back in internet crash of 2001?
BTC and LTC are Amazon.com and Priceline.com; by analogy
This movie has played before.
Lots of crap companies got washed out in 2001 internet crash. Most crap altcoins are going in same direction in next 5 years.
Long term there will be huge winners.
Yep...the next Amazon and Apple will be coming out of crypto. Hopefully, it's BTC and LTC...the gold and silver of crypto.
most probably there is a lot of speculation due of the upcoming hardfork in btc. so it seems many, who had the "deep-red-altcoins" changed to btc in speculaiton to get a "free lunch" by getting btc gold. at the end its a big speculation right now.
as @davebrewer said most probably there will be a washout in the crypto market and many coins may get worthless