In my opinion, you shouldn't buy this altcoin, and I wouldn't advise anyone else to buy it either. It’s well known that more than 90% of altcoins tend to decline in value against Bitcoin looking at the BTC/altcoin pair though they usually rise when the price of Bitcoin goes up significantly or even slightly. Conversely, when the price of Bitcoin drops sharply, they tend to fall just as hard. However, the situation with this particular altcoin is much more concerning: even when the price of Bitcoin surges, this altcoin doesn't move at all. It’s as if it has turned into a stablecoin.
Agree. Polkadot isn't a recommended coin for investment, it seems not convincing coin anymore. I have ignored this coin since the previous cycle because I didn't see any progress in its price movement. There is no good news related to the project development. So, there is no reason that the price can increase significantly again. Why we need to buy this coin?
From November 2021 to November 6, 2026, the price of this altcoin has been falling; however, if you look at the Bitcoin chart using the same timeframe for each candle, you’ll see that if you had bought Bitcoin in November 2021, you would have made significant profits by now. Therefore, it’s not worth wasting time or money on this altcoin. It’s effectively a dead altcoin honestly, I don’t even know why it’s still ranked 46th on CoinMarketCap. I highly doubt it will manage to hold that position three months from now, and within a year, it could well disappear from the top 100.
It has dropped -98% until now. And the price chart shows a scary decline. I even assume the price chart forms a deadcoin pattern. Yep, it is too risky to buy and hold this coin because there is no positive sign of this coin. Sure, it may disappear and drop below 100th rank in CMC. TBH, seeing the current condition of Polkadot, it isn't so much different with average shitcoins.
