ALTS Chart doesn't look good. Expecting 50%+ decline
Altcoins continue to suffer!
Fundamentally:
Why did Apple recover and boom? iTunes was launched back in the days, listening to music on the internet? WTF! Something innovative and inconceivable at that time!
As long as ALTS don't deliver real world products, and that probably doesn't happen for most of the companies, ALTS will just die out. Utility Tokens are not the real deal, because you just have a coin you can use in their network and in 99.9% the networks are not used... Why should Band Protocol, Matic, etc. or LTC pump? Not even the LTC network is being used.
I know, you may read between the lines and think: "hey, everyone is in disbelief, I have to buy", but really, what do most of the ALTS offer? Nothing!
One day, there may be this one altcoin delivering something crazy innovative of which we can not even think off
Technically:
The chart doesn't look good at all. We already lost uptrend support and there is a massive Head & Shoulder being built. This would mean the market cap loses more than 50% of it's value to appx. 31 Billions in total2 /alts marketcap.
Happy Trading!
Fundamentally:
Why did Apple recover and boom? iTunes was launched back in the days, listening to music on the internet? WTF! Something innovative and inconceivable at that time!
As long as ALTS don't deliver real world products, and that probably doesn't happen for most of the companies, ALTS will just die out. Utility Tokens are not the real deal, because you just have a coin you can use in their network and in 99.9% the networks are not used... Why should Band Protocol, Matic, etc. or LTC pump? Not even the LTC network is being used.
I know, you may read between the lines and think: "hey, everyone is in disbelief, I have to buy", but really, what do most of the ALTS offer? Nothing!
One day, there may be this one altcoin delivering something crazy innovative of which we can not even think off
Technically:
The chart doesn't look good at all. We already lost uptrend support and there is a massive Head & Shoulder being built. This would mean the market cap loses more than 50% of it's value to appx. 31 Billions in total2 /alts marketcap.
Happy Trading!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.