There are a lot of people who think that alts are down just because of last months and this month's fork.
While there is truth to that, there is a simple explanation that is easy to overlook: You can actually use BTC.
When BTC crashes next people believe the money will flow back into alts, but this time I think some have really just leveled off or will die off completely.
The market is oversaturated with projects and companies that have a coin but have absolutely nothing to back it up.
Look at the top 100 coins at coinmarketcap, how many of those projects actually have a workable product or use for their coin?
Why would say, something like Chainlink ever go up when there is absolutely no use or product behind it?
I suppose longterm, there are prospects, but this time I'm thinking not all alts will recover like people hope they will.
The money can flow back to alts, but it will flow back to reliable projects and leave the rest behind.
Oh, by the way, btc silver fork in december...ugh...
And one more thing, what's up with so many people asking the same questions about ICOs? Whatever happened to a little forum reading or good old fashioned research?
I do agree on most of your points here. I have always looked at the company, the vision and the projects before getting into an alt coin. Too me it's like looking at stocks. Do I understand the vision? Does the company's vision have a real world purpose? Is that purpose possible to implement.
I tend to stay away from alts that either make no sense or have a 'pie in the sky' idea ... and yes I think many of those will die off. It's the nature of business, tons of ideas but only the cream of the crop actually survive.
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