There's one chart that matters... Do you know what it is?
The promised child of Crypto?
Maybe you've had a really exciting year so far?
- Your favorite currency spiked this year...?
- That doomed coin is crashing in February...?
- The promised protocol has arrived?
You might be suffering from confirmation bias... In fact we might all be... and still be right too.
Here's a 6 month reality check of the 6 biggest...and 4 other popular topic coins.
The crypto market is SOLIDLY all in the same boat riding the same wave... It's Mostly bitcoins wave.
We go up together, we go down together.. Good news for one of us is good news for all... And a tragedy for any affects all coins.
Network effect had not started.
No clear leader is emerging yet.
There is one market right now called 'the acceptance of DAPPs' and it includes every blockchain and thing labeled crypto even if it's not a currency. It works, or it's doomed is the headline the whole market is hanging from.
It's trusted, or it's unreliable, or impractical.
The broad market is trying to answer that question about the whole idea... Not which coin will win... But who will survive long enough to be properly born. The winner might be not the best ICO; but the best IGO. Initial Global Onboarding.
Public awareness...
The force that drives billion dollar market caps is currently snowballing and exploding on just the idea of borderless currency... No coin apart from bitcoin has penetrated the cultural awareness yet to separate itself. And that's the real battle.
None of this is financial advice.
Take it as an emotional caution.. you must make your own calls...if you think a token is pivoting, check the big 10 for comparison. It might just be the pulse of public nervousness, awareness, and the awkwardness of humans letting new tech hold their money on a first date.
There is one chart right now.. It should be titled:
% of global belief in distributed ledger technology
... and it looks like this: commonality over 7 days or 7 months
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Warning: anyone who's investing, speculating their one coin will eclipse everything soon.. (well that's swing trading, not investing ). "soon" is entirely beyond the control of any one coins implementation or design... The thing that will matter is the household name of the next decade... Not next week. Don't bet your life (savings) on it.
Do you think you know what it is?
Chart Sources: Yahoo finance. and CoinMarketCap