I’ve seen a lot of speculation from individual coin subs claiming “this is a great price to get in, just think when we go back to ATH you’ll make so much money!”, “bargain when we hit ATH”! etc etc etc
But how often does that actually happen? How many alt coins actually retake ATH after initial interest and how many people are left bagholding or capitulate when they realise their alt coin bags are simply never going to recover to their ATH.
Some examples over the years:
XRP: One of the oldest surviving altcoins – peaked in 2018 https://imgur.com/RGBRbtw in the several dollar range, failed to regain that peak during the last bull run and then failed again when btc broke 68k.
Nano: https://imgur.com/cb2KZyz “Like bitcoin but better!!!” This coin was supposedly going to unseat BTC with it’s “great fundamentals” and yet it’s not even in the top 100 anymore.
NEO: who could forget this “ETH killer” gem. https://imgur.com/00X0ob1 peaked in the same 2018 bullrun, tried to regain that peak in 2021 during the first ATH break of last year and then failed miserably on the second attempt.
OMG: https://imgur.com/cMtnAdz same story. Never regained ATH- was trading above $24 now trading at $2.71
ZEC: https://imgur.com/RIpFZTW Similar story – Peaked in 2018 at over $700 and now trading under $100.
EOS: https://imgur.com/xTgWDDt EOS yet another “ETH KILLER” – this one had HUGE interest behind it and even had a second wind during 2018 and re-broke ATH hitting $24. It too failed to regain ATH in 2021 alongside BTC and ETH and has all but capitulated in price trading at $1.36 today.
Dash: https://imgur.com/G0nispr “Eco-friendly, faster than BTC! This time BTC is dead” – hit over $1k in 2018 now trading at $60. Got nowhere near ATH during the last bull run.
People who were around then will remember the hype surrounding most of these and the list goes on and on and on.
My point is this: Most of these projects were just as hyped and just as “solid” as the coins that were pumped during the last bullcycle but most never regained the highs and likely never will as the printing continues and interest wanes over time. When the moment comes for the next bullrun will it be the same previously hyped projects being pumped or will completely new shit come along promising all the new features and wacky new animal face coins alongside monumental gains for newbies?
Altcoin money is transient as fuck. Seeking out the quickest gains possible with 0 regard for the actual project they are investing in. You can clearly see this in coinbase’s “average hold time” metric.
Is this time any different?