“Don’t Invest in Old Coins,” Expert Says, 99.99% of Altcoins Fail
Crypto trader Feras warns investors against investing in old coins, stating that 99.99% of altcoins fail. Read more on Coin Edition....
- Crypto trader Crypto Feras warns against investing in older altcoins, stating that 99.99% of them fail to endure beyond a single market cycle.
- Altcoins often falter after their initial cycle due to accumulation and dumping by project teams.
- Feras believes Bitcoin is the only coin with the proven ability to stand the test of time.
- The first cycle involves project teams, venture capitalists, and influential investors accumulating altcoins to later sell them to retail investors.
- The second cycle is characterized as an "echo bounce" led by inexperienced retail investors.
- The majority of altcoins are unable to compete sustainably with Bitcoin over time.
- A report from last October revealed that 12,100 cryptocurrencies essentially ceased trading activities, categorizing them as "zombie coins."
The sentiment of the article is negative towards older altcoins, emphasizing their high failure rate and the superiority of Bitcoin.