#FIL# analyzed the market performance comparison of Bitcoin in November 2023 with the current period, as well as the trends of alts, and discovered a thought-provoking phenomenon. Except for those old alts that have hardly fluctuated (projects that existed before 2022), the performance of most alts is concerning.
When Bitcoin rose from 28,000 to 110,000, the vast majority of alts remained stagnant, with almost no significant growth. This phenomenon confirms the commonly stated rule in the market: Bitcoin has a downside limit but its upward potential is hard to predict, while alts have an upper limit for growth but no downside limit. Taking FIL as an example, the drop from 230 to 23 is already shocking, but what’s even more unbelievable is that it continues to fall to 2.3, leaving only 1% of its initial value. Even worse, the project’s primary market continues to mint new coins, and the project party seems to have not stopped selling off. Who can guarantee that it won't further drop to 0.23, leaving only 0.1% of its original value? The ruthless changes in the market remind us of the cruel laws of the crypto world: when Bitcoin rises, investors may not fully benefit; when Bitcoin falls, especially altcoin holders often face more severe losses. This asymmetric market performance is worth pondering for every cryptocurrency investor.
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Future……
· 06-17 16:24
There are pros and cons, and no one knows what the future trend will be. Whether it can stand in the first position for storage is still unclear.
#FIL# analyzed the market performance comparison of Bitcoin in November 2023 with the current period, as well as the trends of alts, and discovered a thought-provoking phenomenon. Except for those old alts that have hardly fluctuated (projects that existed before 2022), the performance of most alts is concerning.
When Bitcoin rose from 28,000 to 110,000, the vast majority of alts remained stagnant, with almost no significant growth. This phenomenon confirms the commonly stated rule in the market: Bitcoin has a downside limit but its upward potential is hard to predict, while alts have an upper limit for growth but no downside limit.
Taking FIL as an example, the drop from 230 to 23 is already shocking, but what’s even more unbelievable is that it continues to fall to 2.3, leaving only 1% of its initial value. Even worse, the project’s primary market continues to mint new coins, and the project party seems to have not stopped selling off. Who can guarantee that it won't further drop to 0.23, leaving only 0.1% of its original value?
The ruthless changes in the market remind us of the cruel laws of the crypto world: when Bitcoin rises, investors may not fully benefit; when Bitcoin falls, especially altcoin holders often face more severe losses. This asymmetric market performance is worth pondering for every cryptocurrency investor.