Is there a coordinated effort to make altcoins look bad?
In the last weeks, I've seen a trend of increasing altcoins FUD. Binance legal troubles in the US, ADA tutorial bein broken, Tether illegal printing, Stellar price pushed hard down, Nano network spam attacks, XMR being forbidden to trade, NEM being a Chinese scam, people telling publicly they are selling TRON…
Also, there is a continuous trend incentivizing people to stick just on Bitcoin and Ethereum, casually where big players have invested. I think is a mistake to stay just on Bitcoin and Ethereum, people tend to forget that, not so long ago, Ethereum was also another altcoin among hundreds. But don't be an idiot and fall into good-looking unknown low cap projects promising to have a revolutionary tech they can't even define. Do your diligent research, there is a lot of content out there, mostly on public forums, and try to avoid paid articles, most youtube channels, or certain crypto sites whose articles are 100% biased.
IMHO, there are not many altcoins u can hold long term, probably less than 20 but, I think the most important thing is WHEN YOU BUY, mostly BTC/XXX price. If you FOMO and buy at the peak, you have a lot of chances to lose or it will take a long time to see profits. But if u buy at the right time and the project you choose is a good one, you have much more chances to profit.
After all these short and FUD attacks altcoins are suffering, it will be a mistake to just stay on BTC and ETH since some altcoin prices right now are at monthly lows, there is a great chance to profit on a lot of them. Even more, when you do your research and see that behind most of that FUD there is nothing serious happening, and in most cases, if there is any problem, by solving it the coin will get better. Every crypto is in constant development, tether has been showing proof of some funds to US authorities, XMR will have atomic swaps, ADA problem seems to be something easily solvable, Nano managed more TPS (and much faster) than 3 top coins together, Stellar still seems strong with great development going, Nem team is delivering… IDK, most FUD is temporary and soon will vanish, making the projects rise again. It's worth having a look and research, there is amazing tech in some coins that deserves recognition, different kind of blockchains, coins with different functions or properties, and outstanding DEFI projects with real-world potential. Be sure that Bitcoin and Ethereum are not the only and sure winners.
Edit: Im not advocating on getting a shitcoin portfolio. BTC is the safe haven and, until now Eth also has been. I just say that it's a mistake to not look above those two. There are great and solid projects out there and, in a few years they could also become the standard "safe heavens". A lot of new tech is being tried and discovered, this is a revolution. Time will tell. I don't like crypto moonshots and that shit. Im talking about coins with working products and real use cases that are WORKING RIGHT NOW and are not based solely on promises. I didn't say any example as I don't want to bias the conversation.
submitted by /u/Sutanz
[link] [comments]