1. PixelPlaygroundHome
  2. Metaverse Insights

Why are some coins not rising in the bull market (why are they getting poorer in the bull market)?

• Metaverse Insights • 76 views

Why are some coins not rising in the bull market? 1. BTC: BTC is currently the

Why are some coins not rising in the bull market (why are they getting poorer in the bull market)?

Why are some coins not rising in the bull market? 1. BTC: BTC is currently the best performing digital currency in the market, but it is still a very niche variety. Many friends feel that this phenomenon is a bit exaggerated: BTC has reached the price at the end of 2017, while ETH has just entered the market in the past few years, indicating that there is too much speculation in the market. However, if Bitcoin really cannot reach its current price level, I think there will be several types of currencies that will appear in the bull market:

(1) LTC: The recent market has been fierce, rising every day from January 19, 2018, to 2 months later, and then starting to consolidate around 3 am today. It has been in a downward trend, and this volatility makes people have fantasies about altcoins. Therefore, we often find that the recent performance of some mainstream coins is not good, such as EOS and XRP, which are relatively slow and have weak trends. In addition, BCH and BSV and other coins have a large increase but no significant improvement (such as LTC), these tokens basically do not have much market popularity. Also, ETC has been continuously plummeting in the past month, even breaking the $10 mark. However, many investors also believe that this is because they have seen a major update upcoming for Ethereum and the news of ETH2.0, so they choose to wait and see. Finally, let’s talk about BNB. This is the only small coin that follows the downward trend of ETH this year. Of course, many people will also ask whether BNB is in a slump due to these reasons. I think it may be mainly because of these two reasons that BNB has no momentum.

(2) ADA: Last night, someone in the group raised the question of “Will ADA continue to outperform BTC?” At that time, many people complained, “Why play like this?” So I proposed a possibility: “I don’t know if it can underperform.” Later, people questioned, “Which public chain is more suitable for blockchain? I don’t know the answer!” So another saying emerged: “I want to change my answer to: 1. If not, I won’t sell any crypto assets, I will buy more tokens. 2. If you only hold one token or only invest a portion of your funds, then you don’t need to worry about how much money you can make with your money.” This raises a question: when can you sell your tokens if you want to sell them? Actually, I am not suggesting that you sell tokens or buy a certain product. In fact, I personally do not recommend hoarding tokens. For ordinary retail investors, please take a look at the following paragraph. I used to be an analyst myself. In November last year, I also wrote an article about this issue, but I feel that his analysis is very interesting. He said that he didn’t understand Ethereum, but he knew that at the technical level, he didn’t have a way to short Ethereum. However, even with a slight change in technology, I still firmly believe that as long as there are enough technical developers to support and promote the application scenarios that can land, it will continue to move forward firmly.

Why are they getting poorer in the bull market?

Editor’s note: This article is from the Hello Blockchain (ID:hellobtc), author: a tree, authorized reprint from Odaily Star Daily.

Hello everyone! I am someone who has been holding onto coins and not selling them, and now I have two projects. One is Binance and OKEx, and the other is Uniswap. There is also Chef Nomi, the founder of Sushiswap, who tweeted yesterday: “If someone says I bought UNI tokens, should I buy SUSHI?” During this time, many people began to wonder why they are getting poorer in the bull market. When the bear market comes, many investors still feel that they are losing money, but when the bear market arrives to a certain extent, they will think whether they should continue to struggle… However, when the bear market comes, the market will gradually flatten or decline, right? Of course not, we have to wait for the bull market to slowly warm up. So let’s take a look at the current situation in the cryptocurrency circle these days:

1. Bitcoin price breaks through $30,000; 2. Ethereum price stabilizes above $400 and then retraces; 3. EOS price once rose to around $15 USDT, reaching a new historical high and continued to rise for nearly 4 months, then fell below $300 per coin, but quickly returned to around $30.

From the data, since the beginning of 2018, a total of more than $4 trillion in assets have been locked in the entire cryptocurrency field, with most of the funds entering the field of cryptocurrency investment, and these giants have also invested a large amount of chips, resulting in very poor market liquidity. Most of these institutions are “rich people” – they use all their idle funds to buy altcoins or other high-risk investment target companies’ stocks. However, even in this situation, more companies will still enter this industry for financing, and attract more capital to participate, allowing them to earn higher returns. In addition, according to statistics, at least more than ten listed companies have chosen Bitcoin as one of their important reserves, which promotes the growth of this field. 2. US regulatory authorities take action against cryptocurrency fraud. In November of last year, the U.S. Treasury Department issued a new ban on ICO, requiring all ICO-related companies to submit KYC information and relevant reports. SEC Chairman Jay Clayton pointed out that there is currently no evidence that the U.S. Securities and Exchange Commission may be investigating cryptocurrency fraud. Although he believes this is a dangerous signal, it does provide guidance to help regulatory authorities understand the operation of this emerging industry. At the same time, SEC also listed Coinbase as a major litigation target. 3. Where do Chinese miners go? In the past year, due to the epidemic, China’s mining industry has been severely affected. After the outbreak of the COVID-19 pandemic, some old and large-scale companies have fled one after another, such as Li Lin of Bitmain, Jianan Yunzhi, and Ebon International, resulting in the closure of some domestic companies.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/24165/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 08/15/2023 22:51
Next 08/15/2023 23:13

Recommended articles