Alt coins or alt cons? By Michael Creadon

in syndication •  3 years ago 

If you're an alt-coin right now, you're probably pretty miserable. Last year was a bear market; these things happen - fine. But how to describe the utter carnage & despair of 2019?

Bitcoin is having a fabulous campaign any way you look at it:

  • up 300% since the holidays;
  • back in business;
  • getting free publicity daily from central bankers & heads of state alike.

Look at poor alt-coins. Both on a relative basis & an outright basis, they stink. Think about it this way: since everyone prices digital assets against bitcoin as opposed to dollars, if you're up anything less than 300% since the holidays you're down against the benchmark. But worse; many aren't even up a smidgeon at all. They're down or unchanged. It's pretty horrific; I don't know what to tell you.

The lame excuse is "too much/unclear regulation." The sad truth is that the space is littered with bad actors. I know; that's a harsh assessment. It's also the God's honest truth.

So the reputational damage to the nascent space is, plainly speaking, the elephant in the room that no one wants to talk about but until it gets addressed there's almost no reason to suspect a recovery is either imminent/inevitable.

Meantime, bitcoin shines. Even the arch-critic Sean DiTullio (a trader at Traditum Capital in Chicago, a.k.a. "Butter Knuckles") concedes BTC is "almost like gold."

...Originally Posted By Michael Creadon on LinkedIn

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Steem Account: @michaelcreadon
LinkedIn Account: Michael Creadon (32,000+ Followers)

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Diversify, Diversify, Diversify even into markets outside of cryptocurrency like precious metals and real estate. Then you won't have to experience anything like "utter carnage & despair".

nice work @leo.syndication bringing this writer to the platform.

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