Your favourite ALT coin will probably be dead in few years … that’s harsh, but probably true 😥That’s why you probably should diversify!
From this snapshot of the top 100 coins from August 2017, only 4 years ago :
Here was the top 10 :
Do you recognise some? Yeah, most of them. Stratis is dead though, and NEM too. Some of them are in bad shape, like Dash and ETC.
But now let’s move to coins #10 to #20 :
Now talk about an hecatomb. Bitconnect is dead, Zcash, Bitshares, Veritaseum, Iconomi, Steem too. EOS is down by a lot, NEO and Qtum too. Tether did well, but it’s a stable coin, so maybe not comparable to the others.
And the further you go, the less coins you’ll recognise. Most of them are now dead. And coins like ADA, Sol or BNB were not even in the top100 back then.
People were probably very enthusiastic about these coins, as you are about your favourite ALT right now. Many were bad, but the problem now is that we have a lot of good coins, and with so many good choices, it can be hard to predict what coin will succeed in the future.
My clever grandma used to say, don’t put all your eggs on the same basket 😀
That’s why my strategy is to chose 2/3 coins for every category (exchange, financial, NFT, etc, here is a good post about it : https://www.reddit.com/r/CryptoCurrency/comments/oomuyi/i_made_an_infographic_of_the_most_popular/ )I currently own 38 different coins, as I’m probably not smart enough to guess which one will survive or die, and even if many of them die, I’ll probably have one that will perform well enough to compensate for the losses, and be in the top10 in few years. So, diversifying is the key!