99 percent of all cryptocurrencies are forgotten in five years

99 percent of all cryptocurrencies are forgotten in five years

Trader Peter Brandt claims that in five years’ time 99 percent of all altcoins will be nothing more than distant memories. The sentiment around altcoins is not too good at the moment, so his pronunciation is salty in an open wound. Even now that bitcoin is rising again, the altcoins do not immediately grow with it.

Bitcoin is gold, altcoins are lead

Peter Brandt suggests that litecoin, ethereum and ripple can reach even more new lows. He is convinced that bitcoin is the only real crypto that retains value in the long term. “Where bitcoin is gold, altcoins are lead.”

When will altcoin junkies understand that $ BTC is the crypto with real and lasting value. Altcoins are to Bitcoin which is lead to Gold @KimDotcom pic.twitter.com/ezePnyeSxg

– Peter Brandt (@PeterLBrandt) September 2, 2019

This is a bold statement from the trader and he received a lot of criticism. In particular, fans of litecoin, ethereum and ripple defended themselves.

Actually LTC and ETH have far more going for them than the rest of the junk pile. 99% of other cryptos will be forgotten five years from now.

– Peter Brandt (@PeterLBrandt) September 2, 2019

Almost all current altcoins will no longer be significant in five years

He somewhat mitigates his tweet by stating that litecoin and ethereum still have a chance of success but that all other altcoins are a “junk pile”. 99 percent of all other cryptocurrencies will be forgotten within five years.

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Earlier this year, crypto-analysis company DataLight shared a visual representation of the top ten cryptocurrencys per market capitalization and how the top 10 has developed since 2013. You can see this visual below and is definitely worth viewing. A small spoiler: bitcoin and litecoin are the constants.

Just 10 years ago first #Bitcoin transaction was sent and it’s astonishing to see industry growth and how many new assets have gained traction.

In this unique visualization by DataLight, you can track the top 10 crypto assets by market cap, from cryptos early days until today. pic.twitter.com/JIYT3KagwD

– DataLight (@DataLightMe) April 17, 2019

The list contains classics with beautiful names such as Peercoin, Namecoin, Feathercoin, Novacoin, Mincoin, Devcoin, Terracoin and Aphrodite Coin. Most have never heard of these altcoins and the graphic only goes back six years. It is therefore not inconceivable that Peter Brandt can be proved right. If we create a similar graphic in five years, it may just be that the big names nowadays no longer appear on the list.

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It is interesting to see that only two of the current top ten have been at the top since the beginning of 2013. Most of the coins from 2013 are now no longer even in the top 100, at least not under the names of 2013. Some coins have in fact been rebranded: a new name and a new logo.

What do you think? Which coins do you expect to have a long breath?

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