Peter Brandt: 99% of Altcoins Will Be Forgotten in Five Years

[Teawhalee]

Personally I agree with peter ! The same thing that made the previous top coins will happen to the present one and many will be forgotten ! It’s a repeated circle ! We all know that there are so many junks ! Just a few will remain !

[1714904269]

1714904269

[timfish]

I reckon he might be partly correct, however, there are altcoins that are supported by small but loyal communities and excellent developers that refuse to be forgotten.

I am an Aeon bagholder and I have already accepted its fate that it will never be as big as bitcoin or its big brother, Monero. Will I stop supporting it? No and I am not the only holder giving it support as a hobby.

Peter Brandt thinks everything is about making holders rich. He lost the essence of community and opensource development in the cryptospace.

https://www.criptomonedaseico.com/wp-content/uploads/2019/05/Bitcoin-BTC-Is-Reportedly-On-Its-Way-To-A-Parabolic.jpg

The altcoin market continues to bleed out, setting one fresh low after the next. It’s caused the overall crypto market sentiment to reach extreme fear and despair, with many worrying that the altcoins they hold may never again return to their previous all-time high prices.

However, career trader Peter Brandt says that the fate of the altcoin market is much worse than never again setting new highs. The professional trader claims that in five years, 99% of all crypto assets will be a distant memory.

According to Peter Brandt – in response to a tweet suggesting that Litecoin, Ethereum, and Ripple were going to continue to set new lows and that crypto traders should focus on Bitcoin as their main asset of choice as the one with the most “lasting value” – as much as 99% of all crypto assets will be forgotten in five years time.

Investors in Litecoin, Ethereum, and Ripple were particularly defensive, but later Brandt clarified that “LTC and ETH have far more going for them” than the rest of altcoins, which he refers to as a “junk pile.”

However, Brandt may not be wrong about his statement. Earlier this year, crypto analytics firm DataLight shared a visual representation of the top ten cryptocurrencies by market cap and how it has evolved since 2013.

Before even clicking play, the only recognizable cryptocurrency on the list aside from Bitcoin itself is Litecoin. Not even Ripple was released at this point.

The list includes the likes of Peercoin, Namecoin, Feathercoin, Novacoin, Mincoin, Devcoin, Terracoin, and Aphrodite Coin. If you are scratching your head, wondering what these altcoins are, then it may not be unfathomable that the current crypto market top ten might all be forgotten in the matter of another five years, just as Brandt says.

Read in full https://www.newsbtc.com/2019/09/03/peter-brandt-99-of-altcoins-will-be-forgotten-in-five-years/

I don't think that 99% of altcoins will be forgotten. That's nonsense in my opinion to say that. First, people prefer an investment that will give them good return of their money and if there are only few to choose. Second, top ten in the altcoins may not endure the five years but other altcoins will replace them to be in the top ten because people or investors are hungry of new investments to get more returns. Third, there are still many reasons that cryptos and altcoins will hold on until five years and even 10 years more.

I think up to these point there were alot of predictions about extinction of alt-coins will thin the next decades, I think we still have some alt-coins standing there feet to prove this wrong. I believe this is a fallacy.

[3core]

Peter Brandt as actually gotten this wrong, it is true that some altcoins are shitty and will not even exist anymore before the five years time he's saying, but more it can not be upto 99% of the altcoins. Coins like Ethereum, Dash and Doge will keep existing for a very long time.

[TwSeventh]

Peter Brandt as actually gotten this wrong, it is true that some altcoins are shitty and will not even exist anymore before the five years time he's saying, but more it can not be upto 99% of the altcoins. Coins like Ethereum, Dash and Doge will keep existing for a very long time.

The problem in here is, there are a hundred of projects created daily. If we are counting it, approximately around 36.500 projects created yearly. That means he's mathematically not wrong about it because 100 projects can be considered as 1% of our total altcoins right now.

[Yudhisthir]

Peter Brandt as actually gotten this wrong, it is true that some altcoins are shitty and will not even exist anymore before the five years time he's saying, but more it can not be upto 99% of the altcoins. Coins like Ethereum, Dash and Doge will keep existing for a very long time.

The problem in here is, there are a hundred of projects created daily. If we are counting it, approximately around 36.500 projects created yearly. That means he's mathematically not wrong about it because 100 projects can be considered as 1% of our total altcoins right now.

Yup. We might have already forgotten 50% of created altcoins as they are dead already. And it's no wonder in 5 years time with the emergence of new technology and coins, most of the current coins would be obsolete, go out of any exchanges or cease to operate. Some coins would have hype but zero development, people would soon realize about them and as no new investors come in, they'll crash to zero.

[13abyknight]

It's a good thing there are people like Brandt who are speaking their minds and shedding light on the current altcoin scenario, rather than being the ones promoting below par projects for a cut. While I agree with most of his words, it comes a shocker that this list includes big names like Ripple which has established itself over the last couple of years.

[veleten]

agree with  the general sentiment , disagree in details
99% is overly optimistic - shitcoins were are and will be , unfortunately
the thing is that the vast majority of them are either useless or a rip off off an earlier coin
there are maybe 50 altcoins in total that have a fresh and unique idea behind them , the rest have to go
bitcoin is increasing its dominance , yet another sign that no altcoins are offering anything to dethrone bitcoin and there won't appear any that would

[Caishen_Project]

To some extent, I think Peter is actually Very correct, check coinmarketcap and see the list of coins and tokens we have there, most are shitcoins without any use case. Most of these developers are after their own pocket without any valuable contributions to this crypto space. I personally even think 5 years is a long time, in the next 2-3 years, most of these coins will have fade out

[hulla]

Peter Brandt has made an outstanding effort in terms of prediction and trading which was the reason why I somehow comply with his statement but I only 50% of altcoin will be forgotten in 5years because almost 45% of altcoin we have in the market are actually offering the same features, doing copying and editing of what old project have already done.

[jacafbiz]

For me I won't give them 5 years, most would die in the next Bitcoin bull run, I am predicting we are going to see BTC at more than 80% market dominance. I for one pity some people that have failed to read between the lines more of these VCs now realize the future in bleak for these projects and are pulling their money out at he very earliest time.

[irixo10]

Some of the thing he said is practically true but saying about 99% will cease to exist sounds too much for me to believe. Yes, there are many useless coins in this space and taking a good look at the crypto market it is evident more and more going down the drain while those whose developers are hungry for change are coming up in rank. I think in years to come, we will have just few altcoins in addition to BTC, which are truly useful and the crypto space itself will be filled with competition, thus keeping all project team at edge. It's time to focus on only valuable altcoins so as to partake in what the future holds.

[bbc.reporter]

Thats true. Just check end of CMC. Graveyard of dead projects

They might be dead on first look, however, some of them have a community of loyal followers. As it happens, I reckon some of them might have a stronger community than some ICO projects.

[kidbounty]

if we talk about the next 5 years. I don't think it's 99%, but all crypto including bitcoin. the reason is when bitcoin has reached the total supply, people will think crypto is no longer profitable.

[ttcsalam]

I think Altar Coins will definitely go to a relaxed level. Those who are investing or doing it here will definitely plan it. The main value of the Altar coin will go up at that time.

[Vishnu.Reang]

what the guys said is logical but need time to be proven. Therefore, it would cause a great debate among those who are holding coins.

We're already witnessing the proof, aren't we? The altcoin market share has gone down by more than 50% during the last two months, from above 50% to less than 25%. Many of the smaller altcoins and tokens are no longer actively traded. Even the established altcoins such as Cardano, Monero and NEO has lost more than half of their value. Still needs proof?

[leader2704]

i think if it's true (and I do hope it will happen soon) that will be great for crypto market since there are too many scam and money-grab projects out there, this prevents new investors as well as new capital enter the market

[fapar]

if we talk about the next 5 years. I don't think it's 99%, but all crypto including bitcoin. the reason is when bitcoin has reached the total supply, people will think crypto is no longer profitable.

Stupidities. Your forecast is based on the assumption but you forget that during these 5 years, cryptocurrencies will develop, change and adapt to the requirements of time. In addition, nothing prevents to earn now and not to think about what will happen in 5 years. Just follow the development of cryptocurrencies (BTC, ETH, XMR) over the past 5 years. If in 2013 only a few people knew about them, now almost every housewife has heard about cryptocurrencies.

[jazmuzika217]

There is a big possibility that his prediction will happen. Everybody can say that,it will happen five years from now but no one can prove and surely know about it. On the other hand if bitcoin continue to dominate the crypto world it is not impossible that altcoin will also to continue to fall but I think it will never die like bitcoin.

[Brunus]

To say that almost all of the altocines will be forgotten within five years seems to me to be very optimistic: in reality, they will probably be within five months (and many within five weeks ...).
We only hope that some of those we have invested in will be saved

[TwSeventh]

To say that almost all of the altocines will be forgotten within five years seems to me to be very optimistic: in reality, they will probably be within five months (and many within five weeks ...).
We only hope that some of those we have invested in will be saved

This is very true, I have seen so many failed IEO and ICO project lately and not even in 2 months.
after considering everything else, I think it should be fine if we are saying 99.99% of altcoins will be forgotten in five years because of this.