{"id":448199,"date":"2020-10-28T20:00:48","date_gmt":"2020-10-28T20:00:48","guid":{"rendered":"https:\/\/wncen.com\/?p=448199"},"modified":"2024-06-11T14:07:41","modified_gmt":"2024-06-11T14:07:41","slug":"crypto-capital-manager-claims-failed-altcoin-promises-wont-be-forgotten","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/chainlink\/crypto-capital-manager-claims-failed-altcoin-promises-wont-be-forgotten\/","title":{"rendered":"Crypto Capital Manager Claims Failed Altcoin Promises Won\u2019t Be Forgotten"},"content":{"rendered":"<p><a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-just-broke-13-8k\/\">Bitcoin recently exploded above $13,000<\/a> and came dollars way from setting a higher high and confirming a new uptrend. Altcoins, however, haven&#8217;t responded as well, and one cryptocurrency capital manager has a theory as to why.<\/p>\n<p>Su Zhu believes that because most altcoins haven&#8217;t delivered on the promises from three years ago, that when Bitcoin breaks out into a new bull market, newcomers and investors from the last cycle won&#8217;t be so easily duped again.<\/p>\n<h2>Su Zhu: Crypto Newcomers Won&#8217;t Fall For Altcoin &#8220;Failed Promises&#8221;<\/h2>\n<p>During the 2017 crypto bubble, Bitcoin rising to over $20,000 caused widespread retail investor <a href=\"https:\/\/wncen.com\/courses\/the-basics-of-bitcoin-and-crypto\/lessons\/glossary-common-crypto-terminology\/\">FOMO<\/a>. Because by that time the top cryptocurrency was trading well above $10,000, smaller time investors wanting to own a full coin or find the next Bitcoin turned to altcoins like Ethereum, XRP, Litecoin, and more.<\/p>\n<p>The illiquid and <a href=\"https:\/\/wncen.com\/analysis\/btc\/crushing-bitcoin-dominance-could-decimate-altcoins-through-q1-2021\/\">low market cap assets<\/a> began to explode in valuations as money poured in without a second thought about what it was and if it had value. What it did have, was promise.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a class=\"row-title\" href=\"https:\/\/wncen.com\/analysis\/btc\/crushing-bitcoin-dominance-could-decimate-altcoins-through-q1-2021\/\">Crushing Bitcoin Dominance Could Decimate Altcoins Through Q1 2021<\/a><\/strong><\/em><\/p>\n<p>More and more promise also poured into the market to catch the wave of money coming in, and an explosion of ICOs created thousands of more crypto projects.<\/p>\n<p>Most coins, ultimately dropped 99% or more when the bubble popped, with only <a href=\"https:\/\/wncen.com\/analysis\/btc\/crushing-bitcoin-dominance-could-decimate-altcoins-through-q1-2021\/\">altcoins<\/a> with a shred of promise hanging on to some of their gains.<\/p>\n<p>The top projects mentioned above retained their value well compared to coins lower down the list, which were decimated during the bear market. Many of them, many never trade near all-time high levels again.<\/p>\n<p>Crypto capital manager, Su Zhu, a veteran in the industry, claims that newcomers won&#8217;t fall for the same act again.<\/p>\n<p>https:\/\/twitter.com\/zhusu\/status\/16827393?s=21<\/p>\n<p>&nbsp;<\/p>\n<h2>DeFi Could Prove That Dumb Money Will Fall For The Same Tricks Next Cycle<\/h2>\n<p>Too many crypto projects <a href=\"https:\/\/wncen.com\/analysis\/btc\/crypto-analyst-altcoins-to-tank-while-bitcoin-runs-for-all-time-high\/\">are now defunct<\/a>, have exit scammed, or are too worthless for investors to even consider if another bull market begins. Newer coins, as DeFi has shown, will always be the most attractive in a speculative assets class.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a class=\"row-title\" href=\"https:\/\/wncen.com\/analysis\/btc\/crypto-analyst-altcoins-to-tank-while-bitcoin-runs-for-all-time-high\/\">Crypto Analyst: Altcoins To \u201cTank\u201d While Bitcoin Runs For All-Time High<\/a><\/strong><\/em><\/p>\n<p>Negative sentiment surrounding XRP or Litecoin, for example, have kept them underperforming Bitcoin and Ethereum, while <a href=\"https:\/\/wncen.com\/analysis\/link\/analyst-chainlink-could-dive-towards-8-00-before-extending-uptrend\/\">Chainlink has exploded into the top ten<\/a>.<\/p>\n<p><img data-recalc-dims=\"1\" height=\"860\" width=\"860\" decoding=\"async\" class=\"alignnone size-large wp-image-448243 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/bitcoin-chainlink-xrp-ethereum-litecoin.png?fit=860%2C860\" alt=\"bitcoin chainlink xrp ethereum litecoin\" loading=\"lazy\"><\/p>\n<pre style=\"text-align: center\">Chainklink shows shiny and new is still best in crypto | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/LINKUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">LINKUSD on TradingView.com<\/a><\/pre>\n<p>Chainlink, however, is an example that not all new projects are empty promises, and the DeFi trend itself could prove Zhu&#8217;s theory incorrect.<\/p>\n<p>While a full bull run isn&#8217;t here, uneducated investors will likely once again buy up the excrement left behind, as they just were while DeFi was at its hottest. <a href=\"https:\/\/wncen.com\/news\/pizza-hot-dogs-uniswaps-crypto-investors\/\">Food-named coins fresh out of the oven surged<\/a>, then in a flash left late investors burned.<\/p>\n<p>The scenario sounds all too familiar and could suggest that when there&#8217;s a bull market in a speculative asset class, there&#8217;s no stopping dumb and money from being departed.<\/p>\n<pre>Featured image from Deposit Photos, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin recently exploded above $13,000 and came dollars way from setting a higher high and confirming a new uptrend. Altcoins, however, haven&#8217;t responded as well, and one cryptocurrency capital manager has a theory as to why. Su Zhu believes that because most altcoins haven&#8217;t delivered on the promises from three years ago, that when Bitcoin breaks out into a new bull market, newcomers and investors from the last cycle won&#8217;t be so easily duped again. Su Zhu: Crypto Newcomers Won&#8217;t Fall For Altcoin &#8220;Failed Promises&#8221; During the 2017 crypto bubble, Bitcoin rising to over $20,000 caused widespread retail investor FOMO. Because by that time the top cryptocurrency was trading well above $10,000, smaller time investors wanting to own a full coin or find the next Bitcoin turned to altcoins like Ethereum, XRP, Litecoin, and more. The illiquid and low market cap assets began to explode in valuations as money poured in without a second thought about what it was and if it had value. What it did have, was promise. Related Reading | Crushing Bitcoin Dominance Could Decimate Altcoins Through Q1 2021 More and more promise also poured into the market to catch the wave of money coming in, and an explosion of ICOs created thousands of more crypto projects. Most coins, ultimately dropped 99% or more when the bubble popped, with only altcoins with a shred of promise hanging on to some of their gains. The top projects mentioned above retained their value well compared to coins lower down the list, which were decimated during the bear market. Many of them, many never trade near all-time high levels again. Crypto capital manager, Su Zhu, a veteran in the industry, claims that newcomers won&#8217;t fall for the same act again. https:\/\/twitter.com\/zhusu\/status\/16827393?s=21 &nbsp; DeFi Could Prove That Dumb Money Will Fall For The Same Tricks Next Cycle Too many crypto projects are now defunct, have exit scammed, or are too worthless for investors to even consider if another bull market begins. Newer coins, as DeFi has shown, will always be the most attractive in a speculative assets class. Related Reading | Crypto Analyst: Altcoins To \u201cTank\u201d While Bitcoin Runs For All-Time High Negative sentiment surrounding XRP or Litecoin, for example, have kept them underperforming Bitcoin and Ethereum, while Chainlink has exploded into the top ten. Chainklink shows shiny and new is still best in crypto | Source: LINKUSD on TradingView.com Chainlink, however, is an example that not all new projects are empty promises, and the DeFi trend itself could prove Zhu&#8217;s theory incorrect. While a full bull run isn&#8217;t here, uneducated investors will likely once again buy up the excrement left behind, as they just were while DeFi was at its hottest. Food-named coins fresh out of the oven surged, then in a flash left late investors burned. The scenario sounds all too familiar and could suggest that when there&#8217;s a bull market in a speculative asset class, there&#8217;s no stopping dumb and money from being departed. Featured image from Deposit Photos, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":448207,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83381],"tags":[134,428,1144,16295,6664,54512,1946,8686,75940,10,2831,4531,10972],"class_list":["post-448199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chainlink","tag-altcoin","tag-bitcoin","tag-btcusd","tag-chainlink","tag-crypto","tag-defi","tag-ethereum","tag-ethusd","tag-linkusd","tag-litecoin","tag-ltcusd","tag-xrp","tag-xrpusd"],"acf":[],"yoast_head":"\n<title>Crypto Capital Manager Claims Failed Altcoin Promises Won\u2019t Be Forgotten<\/title>\n<meta name=\"description\" content=\"Bitcoin recently exploded above $13,000 and came dollars way from setting a higher high and confirming a new uptrend. 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Altcoins, however, haven&#039;t responded\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/chainlink\/crypto-capital-manager-claims-failed-altcoin-promises-wont-be-forgotten\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-28T20:00:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T14:07:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/bitcoin-altcoins-crypto-ethereum-xrp-litecoin-ltc-icx-icon-Depositphotos_23752599_xl-2015-scaled.jpg?fit=2560%2C1651\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1651\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; Severino\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/tonythebullBTC\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tony &quot;El Toro&quot; Severino\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/chainlink\/crypto-capital-manager-claims-failed-altcoin-promises-wont-be-forgotten\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/chainlink\/crypto-capital-manager-claims-failed-altcoin-promises-wont-be-forgotten\/\"},\"author\":{\"name\":\"Tony \\\"El Toro\\\" Severino\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d\"},\"headline\":\"Crypto Capital Manager Claims Failed Altcoin Promises Won\u2019t Be Forgotten\",\"datePublished\":\"2020-10-28T20:00:48+00:00\",\"dateModified\":\"2024-06-11T14:07:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/chainlink\/crypto-capital-manager-claims-failed-altcoin-promises-wont-be-forgotten\/\"},\"wordCount\":498,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/chainlink\/crypto-capital-manager-claims-failed-altcoin-promises-wont-be-forgotten\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/bitcoin-altcoins-crypto-ethereum-xrp-litecoin-ltc-icx-icon-Depositphotos_23752599_xl-2015-scaled.jpg?fit=2560%2C1651\",\"keywords\":[\"altcoin\",\"bitcoin\",\"btcusd\",\"chainlink\",\"crypto\",\"DeFi\",\"ethereum\",\"ethusd\",\"LINKUSD\",\"Litecoin\",\"ltc\/usd\",\"xrp\",\"XRPUSD\"],\"articleSection\":[\"Chainlink\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/chainlink\/crypto-capital-manager-claims-failed-altcoin-promises-wont-be-forgotten\/\",\"url\":\"https:\/\/wncen.com\/news\/chainlink\/crypto-capital-manager-claims-failed-altcoin-promises-wont-be-forgotten\/\",\"name\":\"Crypto Capital Manager Claims Failed Altcoin Promises Won\u2019t Be Forgotten\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/chainlink\/crypto-capital-manager-claims-failed-altcoin-promises-wont-be-forgotten\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/chainlink\/crypto-capital-manager-claims-failed-altcoin-promises-wont-be-forgotten\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/bitcoin-altcoins-crypto-ethereum-xrp-litecoin-ltc-icx-icon-Depositphotos_23752599_xl-2015-scaled.jpg?fit=2560%2C1651\",\"datePublished\":\"2020-10-28T20:00:48+00:00\",\"dateModified\":\"2024-06-11T14:07:41+00:00\",\"description\":\"Bitcoin recently exploded above $13,000 and came dollars way from setting a higher high and confirming a new uptrend. 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \\\"The Bull,\\\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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