A good coin must be fairly distributed and it must be decentralized or be seen to be on a path to full decentralisation! The issue of energy efficiency in creation and operations of coin will be a serious consideration for investment and use cases going forward!
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I like Cryptocurrency that are creative in solving problems with technology, and has a clear path to adoption of Cryptocurrency to the world. My first altcoin that I hold and work with is ethereum. Ethereum is functioning coin, it has various usecases and can be adapted to different ideas! I also like Sovryn coin, Sovryn platform is towing a path that will make bitcoin more useful than just a store of value!
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I personally do not think ethereum is a shitcoin. Ethereum have come a long way, and every step of the way have been challenging to say the least! Bitcoin is arguably more decentralized than ethereum but, we must realize that ethereum network have made outstanding progress towards adoption of Cryptocurrency. Today, we are talking of defi, decentralized exchange and much more.
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Long term perspective on a good coin can be very rewarding! I imagine those that had foresight about bitcoin 10 years ago, all they have was a dream of where they think bitcoin value will be! It is important not to be taking or limited by present circumstances, we must project ourselves through our dreams and be committed to it. Cryptocurrency is still going to be bigger than we have ever imagined! So, holding quality coin for four to five years is a good strategy!
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I really do think altcoin has as much potential as bitcoin. There are altcoin that have already proved their worth in the market and have consistently grow in development and in their ecosystem! The best practice is to invest in altcoin a percentage of your portfolio that will not harm your portfolio in case there is loss of value on your altcoin. You will be able to stay above water when the worst hit happens or enjoy your profit if your selected altcoin becomes successful!
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As much as what you have said is true as regards Cryptocurrency market dip, the issue is not as simple as market correcting because over bought position! I think institutional investors were selling and retail investors were busy creating and pumping meme coin, and that led to another round of sell off! I felt bitcoin was pumped to early this year ' thanks to Elon ' I expect reversal in current market situation in the last quarter of the year!
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The reason for kyc is simply because of regulations in different jurisdiction, no one like to willingly walk into problems! If your country does not allow some certain investment in Cryptocurrency, then you should abide buy the rules of your country. If however you are keen on participating in those kinds of investment, you will need to go to other country that allow such investment!
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The typo error on the topic of discussion should be corrected! The op typed 'sheep' instead of 'cheap' I think ethereum price will still go down a little more! Despite the fact that there is an excitement for ethereum 2.0 and new upgrade, staking and all, bitcoin will need be stable before this positive news and status could have an impact on ethereum's price!
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The bear market could last for as long as there is, if the bull run we had at the first quarter is anything to go by, we could say that another bull market may not come until there is halving on bitcoin in less than four years. But I hope this bull run will continue in later part of the year and we can expect market to recover fast!
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All the L2 solutions are not looking attractive anymore, ethereum network is free from congestion and because of this, we are seeing reasonable gas fee! Will this lower fee continue to even go lower? I think as bearish sentiment persist, the gas fee will be low. Another thing is that this low fee may not be permanent, we still need long term solution for capacity on ethereum network!
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Altcoin is wholely depends on bitcoin and bitcoin is very volatile! We are not at the point where bitcoin could act as stable coin for the rest of Cryptocurrency! I think we need a stability in order for Cryptocurrency to be adopted in a larger scale! Almost all altcoin are down beyond reason and this is a good time to accumulate very sound technically good altcoin!
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Losing is part of Cryptocurrency trading, you can not avoid it! The important things you need to know is how to read the trend and decide support and resistance level, that will help you to know when to stay in a trade or get out of it! The Cryptocurrency market was at the all time high and experienced traders would have gotten out of their position to re-enter later! At least you now have an experience you can rely on in the future!
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Busd and Usdt with other stable coin is as safe as it get! There are many issues that worries a lots of people in Cryptocurrency community. There are pending court case on usdt, there is also the issue of transparency in terms of the actual money at bank for most of these stablecoin The silver lining here is that busd is backed by paxosgold, Dai holds lots of collateral and usdt is known by the authorities! Let's hope these stable coin will keep serving Cryptocurrency community for years to come!
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The best coin to invest in from early 2021 was obviously bitcoin. Some are worried that bitcoin adoption was a bit too early but the exposure bitcoin got from institutional investors is good one. As we move on in Cryptocurrency space, we can expect support and participation in a larger scale! The best coin to still invest in is still bitcoin!
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Sometimes, we are lost in our unrealistic expectations of the old dreams associated with old Cryptocurrency, we must however be critical in our thinking and see things for what they are. Many old coin have stopped developments years ago, some old coin tech and directions are not applicable in the current market. You just have to let the old dog lie!
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As far as I can see, bearish sentiment persist in Cryptocurrency so far! It has been happening since end of April and this should not be a news. When will there be a reversal? may be very soon as market has not fully get to it's price potential! Bitcoin could still be $100k and ether could be $10k this year!
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Some centralized Cryptocurrency exchange have proven themselves trust worthy! Binance as an example have had devastating hack of it's website and huge funds were stolen. However, binance did not collapse, binance was able to mitigate these loss through funds saved for such eventualities and became even stronger! I will not trust centralized exchange with 100% of my portfolio but I will still trust the trust worthy ones with 20% of my portfolio!
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There is no comparison here for those who support decentralisation of Cryptocurrency. Ethereum is not fully decentralized but it is better than binance smart chain. By the way, binance smart chain was fork from ethereum and it is public knowledge that all the nodes on binance smart chain are centralized unlike ethereum!
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Apart from Bitcoin, any other altcoin may just be a gamble in the long run! I bought Matic (now polygon) in 2018 on binance at $0.002. This year Matic rose to $2 and I have forgotten I had it on binance until I logged in and saw lots of money in my account! In order to maximize your investment in Cryptocurrency, you must have a long term outlook and pick project that can solve existing and other potential problem in the future!
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Flash loan attack are way to common on binance smart chain, you must be very careful not to fall into project that will ruin you financially! Many projects that had a good platform and lots of prospect like bogged, pankcake bunny, Spartan, Burgerswap etc have all become victim of flash loan attack.
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