Most of the people made a beeline for a number of altcoins thinking they would outrun BTC and make them rich overnight but later got disappointed and exited. Meanwhile, the developers of most of those altcoins indeed got "rich overnight" and also dumped the coins on gullible newbies.
good old times, got BNB at $16-20 back then
I remember trading it when it was around $4
Time Time Time!
Time makes such tricks with cryptocurrencies that to say "disproportionate" for this is too lean:
Bitcoin price increases in the period 19/02/2010 - 19/02/2018 3 000 000x
Bitcoin price increases in the period 19/02/2018 - 19/02/2026 6x
this means 500 000-fold difference, 1 minute in 2010-2018 = 1 year in 2018-2026Etherum price increases in the period 19/02/2010 (actually 01/08/2014) - 19/02/2018 3 000x
Etherum price increases in the period 19/02/2018 - 19/02/2026 2x
this means 1500-fold difference
Litecoin price increases in the period 19/02/2010 (actually 01/10/2011) - 19/02/2018 10 000x
Litecoin price increases in the period 19/02/2018 - 19/02/2026 0.25x
this means 40 000-fold difference
The
turning point was just somewhere around the beginning of 2018. If we shift it half a year into the past or into the future, the abovementioned contrasts are remarkably alleviated.
The beginning of 2018 was the worst time for investing into cryptocurrencies.
It seems that these two different periods 2009-2017 and 2018-2026 are entirely different scenes with different rules.
The first scene - the
huge price increases of all cryptocurrencies.
The second scene is characterized by
price decreases. The altcoins have decreased more than Bitcoin, look at for example LTCBTC — Litecoin to Bitcoin Price Chart — TradingView But Bitcoin has performed poorly as well taking into account its risk level. And the second scene continues, it is not ended now - Bitcoin post 2017 return has room to went into negative in the nominal terms as well in the footsteps of its younger brothers.
But I bet this crypto performance has more than two scenes.
The most important questions are, when the second scene ends, how it ends and what will be the all-scene-low prices of Bitcoin and altcoins ?
