The user has invested a hundred dollars in ten cryptocurrencies for a year and a half and summed up the results of the experiment

In the last few months, alternative cryptocurrencies literally fought in its death throes. The dominance of Bitcoin — or rather its share in the cryptocurrency market has exceeded 70 percent, breaking the mark high for the last couple of years. According to some, the real figure may even reach 90 percent.

To show the extent of drawdown altcoins clearer, the user Reddit under the nickname Joe-M-4 published the results of his 20-month experiment. Results at least perfectly show how much the altcoins are inferior to Bitcoin.

Looks like we are back to monopolistic Bitcoin maximalism. Despite the really good development teams the second largest cryptocurrency Ethereum or marketing tricks to promote Litecoin and Tron TRX.

What we have: buy bitcoins, sell altcoins

This subtitle will be enough to all those too lazy to read the story about the experiment.

Source: 2Биткоина

But let’s read more. Joe-M-4 began its study on the last day of 2017. And as the trend shows today, alternative cryptocurrencies are not able to keep up with the market leader.

If you speak the language of numbers, then the investment in Bitcoin 31 December 2017 and to this day would bring you only 20 percent of losses. At the same time on the same investment in nine of the top altcoins you would have lost on average 80 percent of investment. Oops.

It is enough to look at least at the catastrophic debacle of Ripple XRP, which has fallen 88 percent. There is still Cardano ADA, which fell by 93 percent, and a NEM with a 95 percent sagging. The resulting change of course we’ve highlighted with a red rectangle.

Source: publish0x

The author of the experiment, saved only by the fact that he has invested in each cryptocurrency in just 100 dollars. However, the total invested thousand turned into a 203 dollar.

Despite the fact that Bitcoin is still below the levels of January 2018, it is still confidently leading the market, showing no mercy to all other cryptocurrencies. August this year was the sixth month in a row as part of the growth of Bitcoin. And in the same month BTC for the first time since the beginning of the experiment broke the mark of dominance on the market at 70 percent.

The conclusion is obvious.

Investment in Bitcoin compared to other cryptocurrencies will allow if not to make money, then at least less to lose.

Soon you will Wake up the stock market?

Although the trend of altcoins relative to Bitcoin looking down, some analysts still believed in a quick rehabilitation of this segment of the market. In August, analyst cryptocurrency hedge Fund Capital Adaptive Willie Wu argued that altcoins are “on the way to the level of support“. And this trend is allegedly preserved at the beginning of September.

According to Wu, the graph of the market capitalization of altcoins “for two weeks is testing the 6.5-year-old support line”, but was never able to overcome it. Here is his tweet on this account.

What do you think, do you have alternative crypto-currencies at least some chance for rehabilitation? Should I wait for the new “x’s,” as it was in January of 2018? Any violas you would “bet”? Share your thoughts in our cryptodata of hontarov and traders.

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