The post The truth about most cryptocurrencies appeared on BitcoinEthereumNews.com.

Many investors into cryptocurrencies are holding coins and tokens that are not appreciating in value. Promises and predictions have not come to fruition. Is it time to sell them, and what is the best indicator of an altcoin’s potential? Holder pain to continue? There are certain altcoins that were born in previous bull cycles that many investors, particularly retail investors, are still holding today, in the hope that somehow these altcoins will return to previous highs, where in all likelihood, this was at or near the price they were bought at initially. An added problem is that some of these altcoin projects have managed to attract big communities, and within those communities there are plenty who would continue to try and influence the rest to hold firm, that future technological breakthroughs will see the altcoin return to, and surpass, previous all-time highs. However, for whatever reason, whether it is outdated or slow technology, poor tokenomics, a centralised authority issuing too many tokens, or just an unworkable or unneeded use case, these altcoins will likely keep bleeding out against the US dollar, and other cryptocurrencies, and the pain for holders will just continue. Of course, there is always the chance that some breakthrough could be made, whether that is in the tech, or whether that is with some huge deal with a big company or perhaps even with some government. But the longer a crypto project goes without creating significant revenue, or without attracting plenty of actual users to transact on its platform, the more unlikely a positive deal is to take place. One of the best indicators  So what is arguably one of the best indicators for evaluating whether your altcoin is worth keeping or not? Very simply, you compare its price action with that of Bitcoin. If your altcoin…

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Filed under: News - @ June 29, 2024 10:14 pm