Bitcoin Forum

For example, take a look at ALTCOM - https://coinmarketcap.com/currencies/altcommunity-coin/

Seems to go pretty much to zero. Another example is Sagacoin.

What is your opinion - is this caused by the January crash - investors burned their money and/or investors look more into the projects and pick ones with good products/visions? Do you think that this is a trend that will continue in the future? Useless coins going extinct at a faster rate?

Note: I am not in ALTCOM now, I invested in ALTCOM a month ago but sold everything at 14 USD.

Sadly, cryto market has short term memory.  Most only see the drastic rise/fall and forget what the market/coin did prior.

It won't surprise me if a pump and dump group resurrects these again later.

Also, for every good coin added, there are 10 or so bad/shitty coins added also.  It really comes down to each individual to do their own research and protect their money/investment.

Be VIGILANT!  Sad to say...but be CYNICAL as well.

i do not think like that, overall i like this correction for 2 reasons, one is it helped us buy our favorite coins at low price, secondly, this correction and accumulation is very positive for crypto market and we can expect steady continuous growth for long term, generally we can say that crypto markets are showing a mature movement.

Yes, it does and luckily one of the 'victims' was bitconnect.
Unfortunately, also many good project lost a lot of value in the Jan Dip.

But I don't understand about what makes you invested in altcom while I saw about the fact it's only traded in the yobit exchange site. But glad to know bitconnect has fallen in this month. But the bad news another shitconnect with various kind of deposit methods will be opened by scammers.

People are smarter right now to choose the right project with utility usage on its token and try to avoid the security token compliance.

I bought ALTCOM when it was few bucks. It was less than 5% of my portfolio and it was just a "gamblecoin" for me. Still got a decent profit on that (bought at 5$, sold at 14$).

If the coin is weak, then it will die in any case. And the current drawdown is only to accelerate this process.

It's okay, at least crypto market is once again being weeded out of shitcoins without no real value at all. I am glad that the future victims of those shitcoins that have died in this dip has been saved. I really do hope many more of those future shitcoins that have a price now because of hype dies out now while bitcoin price is still in this levels for cryptocurrency to achieve healthier market in the days to come. For now I hope that we will see bullish runs soon.

It destroyed more than just sh** coins. Would you call BTC or ETH one of these? And also this is more than a January correction, February so far is proving even more brutal than January. The entire market is being effected, good coins and bad coins together. If there is a recovery I'd expect both types of coins to recover with the same speculators.

Some coins get impacted heavy during corrections, a good example is June 2017 when DGB was trading at 2200 sats, it crashed hard and it's high since then is 725 sats, not saying DGB is dead but it's an example of a coin that hit ATH, corrected and never got close again, it went as low as 120 sats after a high of 2200

i still see tron and verge at the top

As it was said above, there will be new pumps. Most buyers will only buy because of the price increase. Even if it's a sh...coin. The market has not yet been cleared. Competent investors will not be soon in this markets.

There are still far too many coins in the market, which don't bring any value to the table. We will see further cleanups - hopefully the money floats into valuable projects.

We can see how the market reacts to any news. Cryptomarkets do not have a lot of smart money. Some bad coins will rise again.

For example, take a look at ALTCOM - https://coinmarketcap.com/currencies/altcommunity-coin/

Seems to go pretty much to zero. Another example is Sagacoin.

What is your opinion - is this caused by the January crash - investors burned their money and/or investors look more into the projects and pick ones with good products/visions? Do you think that this is a trend that will continue in the future? Useless coins going extinct at a faster rate?

Note: I am not in ALTCOM now, I invested in ALTCOM a month ago but sold everything at 14 USD.<


Maybe man who know!!!!

Saga's fall from $24 to $2 is being nothing short of spectacular. Much like LTC's fall from $50 to $5 a year ago. Doubt if Saga's ever going to make a run for its ATH agin. But then, this is crypto. The FOMO is always strong 'round here

unfortunately corrections or even big dumps, can not kill useless shitcoins because the word "shitcoin" doesn't mean much these days since people only want some virtual numbers on their screen which they can trade and make profit from their ups and downs.

consequently not that many coins die! even if they are the most useless coin that was ever created. last year we saw revival of some coins that were long dead such as PND, HTML, MOON, and a lot others i have forgotten their names! and each of these were pumped 100-10000x at a time!

I dont think its killed shit coin which created by mining. Its killed shitcoin which have lending thing like bit connect and another similiar coin. People suffer because of this shitty coin. And please learned to not invest to such coin. If you suppoert project like bitconnect you are part of the scam and make crypto lose trust.