Don’t forget succeed of ourselves with “alt season” at this time.
Early now we printed analysis that altcoins have in the past outperformed bitcoin after BTC hits 60% dominance (and again, they did), after which examined 5 altcoins which were primed for any breakout (that they did).
Now, we’re getting the conversation full circle and treading carefully, much like we did several days ago whenever we discussed that crypto portfolio diversification can really increase investor risk.
This analysis, which blogs about the top 200 coins by market cap on November fifth 2017 for their current prices, provides much more need to do careful research inside your investments – just like we all do within our DARE Reports.
The entire market cap of coins on November fifth, 2017 had just surpassed $200 billion.
By May twelfth 2019, the marketplace cap is simply 3% greater at $207 billion.
Bitcoin dominance was near 60% on dates. The cost of BTC was $7,400 in November 2017 and $7,000 on May twelfth 2019.
But despite an identical sized market and cost of BTC, the altcoin atmosphere has altered drastically.
The 18-month period we’re analyzing were built with a historic bull run, a bear market, and featured several prominent ICOs, which all led to shifting values in coins.
We compared the very best-200 coins before the 2017 alt-season to the peak-1000 coins at this time, and also the outcome was not kind to a lot of altcoins.
- Over individuals 18 several weeks the very best-200 altcoins are lower in value typically 29.13%, which underperforms BTC by 23%
- 72 projects are lower greater than 80% in value
- 21 projects in the November 2017 top-200 are actually “dead projects” (no more within the top-1000)
- 48% of projects have lower volume traded each day
- Excluding the 21 dead projects, you will find 37 projects whose volume each day has dropped greater than 90% – making large positions nearly impossible to liquidate – getting our total “dead projects” to 58, or almost 30% from the top-200… Maybe “hopeless projects” is the perfect term?
Notable dead projects are: BitConnect, BitcoinDark, Lykke, ATMChain, Bitqy, MCAP, FairCoin and Bitdeal, which were within the top-100 coins just 18 several weeks ago!
What this analysis really highlights is the fact that although there will in the end be some diamonds in the present listing of top altcoins (remember, regardless of the bear market eleven coins in the top-200 in 2017 convey more than bending in cost within the last 18 several weeks – which doesn’t count new entrants), bear in mind that just about 30% of individuals 2017 projects are actually considered “dead” and almost 40% of projects are lower a minimum of 80% in value.
I’ll give you the ultimate picture of exactly what the graph of the “dead project” appears like. LKK was the 63rd rated gold coin on CoinMarketCap 18 several weeks ago.
*Note: This analysis used CoinMarketCap data. Other sources may show different conclusions.
The publish Rewind to Altcoin Season 2017: Remember BitConnect, Lykke, MCAP, and FairCoin? made an appearance first on Crypto Briefing.
Original source: https://cryptobriefing.com/altcoin-season-caution/