Is the Price of Altcoin More than Its Real Value?
The active community in the field of cryptocurrencies is very well familiar with the bubble price in this market. Many times, there have been different commotions in the world of cryptocurrencies and there have been quite a few attempts to end this market, but the fact of the matter is that none has been able to stop Bitcoin and other cryptocurrencies in their path toward evolution and in their life cycle. In 2014, there were attempts and measures like publishing articles in publications and propagandas with the aim of ending the life of Bitcoin, but neither came to fruition. There are always controversies regarding the real price lf altcoins and Bitcoin among experts. Some believe that the price of altcoin is a bubble and is way more than its real value.
Bitcoin Against Altcoin
Experts think that the price of altcoins in the period from 2017 to the beginnings of 2018 has not been real, and their value today is but a bubble that will pop and become closer to reality. Also, experts believe that soon each one of the altcoins will find its specific market and continue its life in a part of the market. In this midst, the is no connection between the growth of Bitcoin and its effectiveness on other cryptocurrencies. In fact, experts believe that with more growth of cryptocurrencies and continuation of their life cycle, the matter that the price of Bitcoin is the determiner of other cryptocurrencies’ value will be to some extent farfetched, and the pricing process of altcoins will not be affected by Bitcoin.
The Future and Outlook of Altcoins
Altcoins, or in other terms, all the other cryptocurrencies in the world except for Bitcoin, usually have very similar features and it is expected that their number will increase by the end of 2019. Given that the features of altcoins and Bitcoin, and generally cryptocurrencies, are very similar, what is the reason for their variation and why new cases are revealed day by day? The story is that according to predictions, different cryptocurrencies will move toward their own specific markets. In the field of marketing, the small markets that have their own specific features and cover a small and specific part of the market with a special need are referred to as “niche market.” Apparently, altcoins are going to each have a part of the special market or their own niche market. In this way, each altcoin can continue its life cycle independent from Bitcoin and all the ups and downs that impact all cryptocurrencies.
Of course no specific prediction can be made about the newfound phenomena such as cryptocurrencies. Perhaps in near or far future a new cryptocurrency will be introduced to the market that offers higher speed and quality and be able to even replace Bitcoin and decrease its hegemony on the crypto market. Currently, the situation of the crypto market cannot be precisely predicted. But what is clear is the unreal price of altcoins. In a situation where the market has not yet reached stability and maturation, it is not determinately possible to confirm the prices and value of cryptocurrencies. Cryptocurrencies are growing and on the move, and predicting their precise status in the future still requires patience.
Wednesday, August 14, 2019 5:28:00 AM