Bitcoin (BTC) is the first cryptocurrency to emerge in the crypto space. Since its emergence, many other digital currencies (referred to as altcoins) have also joined the league. However, Bitcoin (BTC) is the most dominant of all. At the time of writing, the dominance level of Bitcoin (BTC) is about 69 percent, which means it contributes about 69 percent of the total market cap of the crypto market.
This has raised a great concern about the future of altcoins in the crypto community. There have been strong correlations between Bitcoin (BTC) and altcoins several times. Nevertheless, many still believe in altcoins and they believe the altcoin market will bounce in the near future.
In a recent interview, CNBC asked Charlie Shrem – an early Bitcoin (BTC) investor – if altcoins are dead and might never rise again. In response, Shrem said that there is still some hope for the altcoin market as altcoins are continually developing.
Bitcoin (BTC) Price Today – BTC / USD
A Whole New Wave of Altcoins Is Coming, Charlie Shrem – Bitcoin News – Crypto News – Cryptocurrency News today – Cryptocurrency Market Update
During the interview, the early BTC investor said that he believes that the digital currency community will soon witness a whole new wave of altcoins. In a statement, he said:
“They are going to see the next level of what they are, different projects, different firms doing different things, but learning from the mistakes they have made in the past.”
Shrem further added that many firms have not launched projects that would see the implementation and use of these coins. In turn, this posed a major issue to these firms, as they got no value out of it.
Shrem Plans to Hold On to His Altcoins – Crypto News Today – Bitcoin News – Bitcoin Update – Crypto Market Update
Shrem rounded up the interview by saying that he will not be selling his altcoins as they only worth a few thousand dollars. Nevertheless, he also said that he would have sold all his altcoins holdings if they had worth much more. Shrem said:
“I am just kind of holding on to the coins to see if something will happen down the road because at the point, it is not worth selling for $2,000. If it goes to zero, whatever. But if it goes to $20,000 then at least I make something.”
Many digital asset investors in the market also plan on holding on to their altcoins. Many still believe in altcoins, and they believe altcoins will rise soon. Some are even increasing their altcoin holding amidst the recent price dip.