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Home Cryptocurrency news

Will Next Gen Altcoins Boom During Next Crypto Bull Run?

Tony Spilotro by Tony Spilotro
1 year ago
in Cryptocurrency news, Bitcoin
Reading Time: 3min read
altcoins crypto next gen coinbase
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During the 2017 crypto craze and ICO boom, retail crypto investors loaded up on new, untested altcoins in hopes of finding the equivalent of the next Bitcoin – a revolution in financial technology and the best performing asset of all-time. But after the 2018 bear market, those hopes and dreams have since been shattered, and sentiment surrounding the once surface of the sun hot altcoins of yesteryear may never recover, even if the overall crypto market does.

Instead, the next crypto bull run will likely be driven by a new wave of emerging, unheard of altcoins that satisfy the shiny newness, hype and promise that the older coins once offered, all without the negative sentiment and 99% drawdown many of them may forever be associated with henceforth.

Coinbase Explores New Wave of Crypto Assets

Last night, San Francisco-based crypto exchange Coinbase revealed a lineup of new altcoins they are exploring as coins they may potentially list in the future. The initial reaction from the crypto community was shock, as the crypto industry leader neglected many of the altcoin projects that investors have long been clamoring for to be listed.

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Related Reading | Can Coinbase Capitalize On Binance Becoming Less Attractive To US Crypto Investors?

Including in the list are noteworthy names like Telegram, or older crypto mainstays like Filecoin, however, the rest of the list is comprised of newer, unreleased and unknown tokens, such as Polkadot or Chia.

Coinbase continues to explore support for new digital assets: https://t.co/LdyayXWN5k

— Coinbase (@coinbase) September 19, 2019

The common thread across many of these new altcoins are that they are from US-based businesses. Chia, for example, is based in San Francisco where Coinbase’s headquarters reside, and is led by former BitTorrent frontman Bram Cohen.

Shiny New Altcoins To Outperform Tarnished Old Gems

While many crypto investors are upset that their favorite tokens from the 2017 crypto bubble weren’t included in Coinbase’s list of potential new additions, Coinbase is simply going where the money is – or, at least where it is going to be.

The reality is, the altcoins from yesteryear that were the most talked about or hotly traded at the time, are now essentially dead in the water. Sure, there are gems hidden within the thousands of altcoins in the market, the vast majority of them will never be applied to real-life in any meaningful way.

Related Reading | Alt Season 2.0: Ethereum and XRP Post 20% Gains, Litecoin and More Up 10%

With crypto being a speculative market, value is driven predominantly from hype and future expectations. And with the harsh reality that older altcoins are plagued by bag holders ready to dump their assets – down as much as 99% – at any signs of price growth, they may be doomed to never again revisit their former all-time highs set back at the height of the hype bubble.

Due to these factors, it’s expected that these shiny new altcoins offering promise, potential, and hype will vastly outperform the older altcoins during the next crypto bull run.

Tags: altcoinsChiacoinbasecryptotelegram
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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