RIP To Over 800 Altcoins


Even though Bitcoin is still slumbering without real strong support, it’s been a while since the coin has seen some positive light. Still, it remains unsure if Bitcoin will ever regain its late 2017 value and experts can’t seem to agree (even though I’m pretty sure). The same can’t be said for a lot of altcoins, who didn’t survive the big dips of the cryptomarket lead by Bitcoin.

We all have seen that ICO’s can be a tricky thing, and the hype every new coin generates. Now, DeadCoins.com is keeping track of those coins that didn’t live the hype. Warning: It’s not a short list. Over 840 coins are pronounced dead by DeadCoins.com at time of writing. According to the website, a dead coin is either a scam or altcoin worth less than 0,01 dollar. Some of the summaries on there are quite intriguing, like the High Temp coin (HTRC) – “dead coin, took the money and run”.

Most altcoins suffered 70% loss during the first quarter of 2018. A ripple effect where altcoins are brought down by their leader Bitcoin. Similar effects were seen during the dot.com bubble in 2000.

Most altcoins suffered 70% loss during the first quarter of 2018. A ripple effect where altcoins are brought down by their leader Bitcoin. Similar effects were seen during the dot.com bubble in 2000.Click To Tweet

Then again, it’s no surprise so many altcoins died. Some (a lot) weren’t meant to survive, judging from the amount of scams listed on DeadCoins. For those who did survive, it’s a tricky time as they heavily rely on Bitcoin. I’m sure we’ll see many more victims in time to come, be wary to invest in too-good-to-be-true altcoins as they can run with your money.

READ  Technical analysis and price prediction
retro

Journalist and tech lover.





READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here