{"id":5237,"date":"2020-10-28T20:00:48","date_gmt":"2020-10-28T20:00:48","guid":{"rendered":"https:\/\/www.newsbtc.com\/?p=448199"},"modified":"2020-10-28T20:00:48","modified_gmt":"2020-10-28T20:00:48","slug":"crypto-capital-manager-claims-failed-altcoin-promises-wont-be-forgotten","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/crypto-capital-manager-claims-failed-altcoin-promises-wont-be-forgotten\/","title":{"rendered":"Crypto Capital Manager Claims Failed Altcoin Promises Won\u2019t Be Forgotten"},"content":{"rendered":"

Bitcoin recently exploded above $13,000<\/a> and came dollars way from setting a higher high and confirming a new uptrend. Altcoins, however, haven’t responded as well, and one cryptocurrency capital manager has a theory as to why.<\/p>\n

Su Zhu believes that because most altcoins haven’t delivered on the promises from three years ago, that when Bitcoin breaks out into a new bull market, newcomers and investors from the last cycle won’t be so easily duped again.<\/p>\n

Su Zhu: Crypto Newcomers Won’t Fall For Altcoin<\/a> “Failed Promises”<\/h2>\n

During the 2017 crypto bubble, Bitcoin rising to over $20,000 caused widespread retail investor FOMO<\/a>. Because by that time the top cryptocurrency was trading well above $10,000, smaller time investors wanting to own a full coin<\/a> or find the next Bitcoin turned to altcoins like Ethereum, XRP, Litecoin, and more.<\/p>\n

The illiquid and low market cap assets<\/a> began to explode in valuations as money poured in without a second thought about what it was and if it had value. What it did have, was promise.<\/p>\n

Related Reading | Crushing Bitcoin Dominance Could Decimate Altcoins Through Q1 2021<\/a><\/strong><\/em><\/p>\n

More and more promise also poured into the market to catch the wave of money coming in, and an explosion of ICOs created thousands of more crypto projects.<\/p>\n

Most coins, ultimately dropped 99% or more when the bubble popped, with only altcoins<\/a> with a shred of promise hanging on to some of their gains.<\/p>\n

The top projects mentioned above retained their value well compared to coins lower down the list, which were decimated during the bear<\/a> market. Many of them, many never trade near all-time high levels again.<\/p>\n

Crypto capital manager, Su Zhu, a veteran in the industry, claims that newcomers won’t fall for the same act again.<\/p>\n

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ppl who expect dominance (flawed a metric as it is) to get anywhere near 2017 lows forget that pretty much everything nonBTC has now exhibited 3yrs of failed promises and anti-lindyness<\/p>\n

this fact will not be lost on newcomers when they contemplate what to buy<\/p>\n

— Su Zhu (@zhusu) October 27, 2020<\/a><\/p>\n<\/blockquote>\n