Ralph Raymond asks "What are your thoughts on how to make altcoins less dependent on the performance of Bitcoin?"
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
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If Bitcoin goes down, they all go down. Eventually that probably will change, especially in the bull market. I don’t mean bubble, in bubble everything goes up 😂. I mean real steady bull market where great fundamentals proof how much it’s really worth. You will see this huge run of best quality alt-coins. Bitcoin will stay as a leader when it comes to market cap in my opinion. Or will it? 🤔 Anyway, when it comes to percentage gains, I think some alt-coins will outperform.
You hit the nail on the head regarding this question.
Good tech, valid use case and adoption are the factors that will detach alts from BTC
As you mentioned that adoption is definitely the key. Once a coin can find a real use case than its survival is secure to some extent but that also allows it to get out from under the bitcoins shadow and makes it's own niche.
Coins that are not going to find real world uses would be soon getting extinct and the fact that how they can get out from bitcoins shadow would be a moot point for them.
There are coins that have done this and have found their own corner of the market (.....like Ethereum). Others should definitely try to take the lead from them.
Crypto market is here for only little over nine years. People get afraid, scared when bitcoins sells off. They automatically sell everything else. Once great coins adapt and people’s confidence grows, there will be huge run for alt coins. For good quality coins. I also think some regulations will help alt coins as well. It assures people’s confidence. As I said, right now it’s too early for alt coins to get too separated from almighty bitcoin. But we will eventually get there at some point.
If there could be activities going on just like steemit where people are the one mining the steem through engagement in endless conversation through their piece, for now I don't see altcoin getting survive without the treat from the almighty bitcoin which is the father of all crypto currency, if bitcoin is fallen it does affect others coins too.
You will see this huge run of best quality alt-coins. Bitcoin will stay as a leader when it comes to market cap in my opinion. Or will it? 🤔 Anyway, when it comes to percentage gains, I think some alt-coins will outperform.
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When a new coin finally emerges as the center-stage, that is overtake bitcoin to become more popular, then other alt coins will become less dependent on bitcoin
in my opinion this is not possible, because btc is the parent of all crypto types, if parents experience significant change, others will also get a little change.
logically if the house collapsed then the contents of the house is also destroyed, as well as crypto.
this is the only opinion and logic that I get.
Easy: more direct fiat to alt pairings on exchanges :) That way people aren't forced to get into Bitcoin before they purchase alts.
That plus some more time and visibility for the alts. We're already heading this direction, just look at what has happened to bitcoin dominance over the last few years. This trend will continue - Bitcoin has a huge head start but others are catching up.