Over the decade of its existence, Bitcoin was never handed over positions at the rank of major cryptocurrencies. The creators of many projects sought to overshadow the brainchild of Satoshi Nakamoto, but it failed to anyone. It seems that in the foreseeable future, the struggle will come to an end. And its outcome is clearly not in favor of altcoins.

Bitcoin is king of crypto

According to CoinMarketCap, there are now more than 2,200 coins that are traded on exchanges. They have value, though, and liquidity many violas is very limited. In other words, do not expect to make millions just for trade Althingi that are not even in the top 20 ranking by market capitalization.

According to criptonita and developer Jimmy’s song, the nameless coins there are 99999 reasons to die. Why almost ten thousand? The usual irony, because a little-known project may cease to exist “the magic wand”. Such representatives have no long-term prospects. Hadlet them is like voluntarily throwing away their money in the trash.

Jimmy Song (송재준)@jimmysong

Top causes of death altcoin:

1. Liquidity dries up
2. Development ceases
3. Mining becomes unprofitable
4. Exploit of one type or another

99999. Someone declares it dead

Once a coin becomes uneconomical for mining, its market price is doomed. Stable downtrend pulls everyone down with him, leaving no chance for long-term holders. Not to be in the “sinking ship”, only invest in the most proven crypto-currencies with good reputation.

No chichinou

The day before Bitcoin hit a new historical high, which had a negative effect on the trading pairs with BTC violas. Many of them continued the downward movement which is unlikely to be completed in the very near future.

Co-founder of Fundstrat’s Tom Lee warns that now the safest strategy remains bullish. Moreover, it is necessary to trade only Bitcoin, because most of bullrun growing it. In fact, to stand in long had since the beginning of April, when cryptocurrency has crossed the moving average 200 SMA on the 1-day chart. Recall, then, Whether officially announced the beginning of a new bullish trend.

The next resistance level for Bitcoin at the moment is line 9600 dollars. After her breakthrough, which could happen this week, buyers quickly pushed price the main of a digital asset to the mark of 10 thousand dollars. Not to miss out on another good deal on the stock exchange, be sure to sign up on the exchange Bitmex and get a 10% discount on the Commission ( registration Link: https://www.bitmex.com/register/)

The message will Be whether the sharp rise of Bitcoin cause the death of altcoins? appeared first on crypto.by.