Altcoins | Performance Dismal Against Bitcoin | A Statistical Dive
Edited By
Samantha Lee
A recent analysis of 300 altcoins reveals a stark reality: they quickly lose ground to Bitcoin. In a span of just months to a few years, many altcoins have dropped by 90% or more against Bitcoin, raising questions about their value in the crypto space.
A Hard Look at the Numbers
The data crunch illustrates a troubling trend for altcoins. Of the analyzed coins, most took only 10 to 20 months to fall dramatically against Bitcoin. Some coins, such as LUNA1, ONG, and BRISE, vanished in under 60 days.
QTUM: 17 months to fall 90%
Polygon (MATIC): 23 months
ICP: 24 months
Cardano and XRP: down 90% by month 36
Litecoin: a slow bleed over 69 months
Monero: the slowest, hitting -90% in 72 months
Only a select few altcoins haven’t reached -90%, but they are merely bleeding slower. With a -76% average, it’s clear no altcoin has managed long-term outperformance against Bitcoin.
"This isn’t about hating altcoins, it’s about recognizing the market for what it is," a user noted.
Controversial Perspectives
Several recurring themes emerged from forum discussions:
Skepticism of Altcoins: Many argue that no altcoin has proven itself a strong investment over time.
Volatility Concerns: The ongoing volatility raises doubts about the potential of altcoins as alternatives to Bitcoin for transactions.
The Pyramid Scheme Analogy: Critics often refer to altcoins as man-made pyramid schemes, emphasizing their lack of real-world utility.
In response to the recent analysis, one comment bluntly stated, "They’re all useless. Yet millions invest every day."
Key Insights
🚫 Not one altcoin has outperformed Bitcoin in the long run.
⚠️ Average drop for altcoins stands at -76%.
💰 "Stack Bitcoin, trade altcoins" seems to be the prevailing strategy.
Interestingly, some believe Bitcoin remains a solid investment despite being termed "slow" for transactions. The discussion continues on user boards as many grapple with what this data means for the future of altcoins.
As historical patterns suggest, it's time for people to rethink their approach: invest in Bitcoin when done gambling.
For more insights and ongoing conversations, further resources can be found at CoinMarketCap and CoinDesk.
Monday morning QBing these stats isn't just a one-off; it’s vital if we want to map trends in crypto investment and trading.