Mati Greenspan, a prominent Financial and crypto analyst has increased his engagement on Twitter this holiday season. Not that it was any less before, Greenspan has almost always encouraged dialogue across all platforms.
The most recent concerns came mostly from XRP investors trying to make meaning of the cryptocurrency from the analyst.
It nearly broke above $0.5 during the year during the bull run in Q2 of 2019. However, compared to other alts and Bitcoin it was highly disappointing.
XRP has been one of the worst-performing cryptocurrencies in 2019. This was despite the new partnerships that Ripple made with financial institutions all over the world. However, the complexity on the actual use of XRP is still a big concern for its investors. He notes on its token economics,
XRP tokenomics is a bit funny that way. The two main issues…
1. Ripple holding a large portion of tokens and selling into the rallies.
2. Usage of the network does not necessarily require XRP tokens. Banks can use Ripplenet w/o ever touching the token.
Had it been 2015-2017, any partnership announcements with banks and such would give a 10% pump at least. However, the crypto markets have matured a lot since the bear market of 2018 with crypto-winter reaching it’s peak after the 4th quarter.
Greenspan hints on the increasing dominance of Bitcoin akin to prior to the bull event. He said,
Yes. We’re beyond crypto winter or summer or spring for that matter. This entire period is a great consolidation where the entire industry is returning back to Bitcoin. People are realizing that many of the altcoins had exaggerated valuations beyond what the projects were worth.
The total altcoin market capitalization is down 60% from its yearly high and about 90% from its All-Time High.
The market capitalization of altcoins before the alt-season accompanied by bullish crypto markets in 2017 was less than $4 billion.
When and which altcoins do you think will start another bull run in the future? Please share your views with us.
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Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com