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The reality of “Altcoins” after what happened on October 10 in the biggest sell-off in crypto history.
On October 10, in a matter of minutes, we witnessed the largest sell-off in the history of cryptocurrencies. While Trump's announcement had something to do with what happened, the reality is that it was a more orchestrated plan than it seems. However, what surprises me, and no one is talking about, is that a large percentage, I would say 95% to 98% of “Altcoins,” have no real value and are destined to go to “ZERO.”
If you look at the images, we can see on one side that practically all the graphs on Coingecko look the same, as if they were copies, while on the other side we see the token $APT, which fell to $0.747 after being above $5. But why is this? 1 reply
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What really happened is that market makers are the ones who maintain the price, and on October 10, they all left the market, revealing the real value of all altcoins, since their business is to provide liquidity for exchanges, and when they leave, there is no floor, liquidity evaporates, and that is why the stop losses were not triggered, as there was not enough liquidity in the order book to cover these orders.
No one mentions this; they only highlight a fundamental aspect that, while it may be true, like the privileged information of the whales and those who were able to take advantage of it, does not reflect reality. Only a handful of altcoins have real value and utility, some are known, others are not.
Of course, I am talking about the market in general without including "FC" utility tokens, but if you don't want to suffer the same fate, you have to take all this into account. 0 reply
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