Analyst Willy Woo Makes The Case That 99% Of All Cryptocurrency Assets Are Not Worth Investing In

Many people thought they would get rich investing in altcoins back in 2017. Most of them were wrong. At the height of the crypto bubble, the price of almost all altcoins were going up, but now most of them are worthless assets. Why? There are several reasons for this.

Willy Woo, a crypto analyst, has recently talked about why some tokens survived 2018 while others are basically zombies today. He affirmed that CoinMarketCap (CMC) has 4978 tokens listed but most of the ones below the top 40 do not have a lot of liquidity. In fact, most do not have any liquidity at all.

99% of the assets listed on CMC are basically worthless in his view. Everybody trades Bitcoin, but almost nobody cares about an unknown small cryptocurrency. There are many dead coins without any updates and some which have seen better days.

One of the primary reasons why Woo believes that this happens is because we are not living an “altcoin season” like the one in 2017. Several tokens that were contenders to become prominent have basically fallen into obscurity by now. Most of these projects did not even exist three years ago, they were all created in 2017 or 2018.

Why have these tokens failed? Because people have better and more solid options. Bitcoin, Ethereum, Litecoin and stablecoins like Tether are basically everything that most traders need. Some tokens are tied to failed services and startups as well. Only the ones linked to very successful enterprises such as Binance Coin managed to get good results.

The altcoin season is over and we may never see another one again. Are any of these forgotten tokens worth investing in? You probably have the answer to that question.

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James W
James is a cryptocurrency enthusiast, an advocate for the development and exposure of blockchain technology, and believes in the use of digital assets for the good of the society. Enthralled by the huge potential of cryptocurrencies and their underlying technology – blockchain – James dedicated himself to learn more about the industry, becoming a highly sought-after writer in the sector. He covers news, white papers and any content related to cryptocurrency and blockchain in general.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

1 COMMENT

  1. No, the alt season is not over. It has just begun! The scams are out. Altcoins that show value will prosper. There is nothing the status quo oligarchy can do to stop it.

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