Altcoin news platforms are motivated to tell a good story instead of explaining tech which leaves out a lot of information. While innovation is expanding rapidly the question still remains, will altcoins eventually be worth nothing? In this article, I am going to give a thorough analysis of altcoin predictions including the best altcoins to invest in.

Altcoin News Displays the Industry’s Growing Pains

With headlines proclaiming Bitcoin going down, it’s easy to lose faith in cryptocurrency. The plethora of altcoin projects is a symptom of the enormous creative potential this industry has. While bad projects can certainly spoil crypto’s reputation, not having any bad projects would stifle innovation. The altcoin news buzz paints a picture of little-known coins achieving skyrocketing values overnight. While this has happened before, to better understand the phenomenon, let’s take a look at how Bitcoin directly affects altcoin valuation. It’s not necessarily a competition of Bitcoin vs altcoin, instead, each relies on each other.

Exposing the Falsehoods of Pessimism

Currently, every altcoin is measured in value by Satoshis — what are those?

One hundred millionth of a single Bitcoin (0.00000001 BTC — 8 decimals places).

Bitcoin’s valuation to fiat currency directly affects how much each Satoshi is worth.

Altcoin valuation comes from their Satoshi valuation related to fiat (USD).

When Bitcoin’s value increases, it tends to raise the price of altcoins along with it. Unfortunately, the inverse is also true — which ties the altcoin market directly to Bitcoin. For example, if Bitcoin drops 10%, some altcoins may lose nearly 30% of their value. This leads to altcoin news sources crying wolf at the slightest market fluctuation.

If each coin is directly tied to Bitcoin, won’t they all lose value if they bring nothing new to the crypto space? The Bitcoin vs altcoin debate is a topic being pushed by many altcoin news sources. The hypothesis claims that any technological achievements brought by altcoins will eventually be adopted by Bitcoin, rendering the original coins useless. It’s a maximalist view made hard to refute because the timeline is set so far ahead into the future that no one knows if they’re right.

The Bitcoin maximalist perspective is a terrible view to have for investing and trading in the crypto-scene. Successful investors can find altcoins to support that increase in value over only a few months. Furthermore, we are experiencing a brutal bear market and most of the altcoins in existence have proved themselves robust enough to survive. While their value may not buy you a Lambo any time soon, they still have dedicated teams and communities behind the vision. The altcoin buzz is created by solutions to technical problems that are more than simple value exchange:

Smart contracts

Proof of consensus mechanisms

Supply chain management

Smart I.D.

Decentralized apps

Just because a coin isn’t Bitcoin doesn’t mean it’s worthless. Altcoin predictions should stay bullish for quite some time.

The Altcoin Market is Diluted With Some Terrible Ideas

Finding the best altcoins to invest in means understanding the bad ones. While an altcoin crash may be in our future, I am still bullish on the future of cryptocurrency. Often times these market crashes act similar to natural selection — wiping out the bad projects, and keeping the good. I personally don’t think an altcoin crash is inevitable, but I do think the bad ideas will be wiped out, naturally. In anticipation of a further crash, I have compiled a list of 4 projects to stay away from.

1. Verge

Marketed as a privacy coin, Verge created an independent blockchain after a hard fork from Dogecoin. Originally called DogecoinDark, it was rebranded to its current form. If its origins as a meme coin aren’t raising red flags, its lazy tech will. With claims to be a privacy coin, it doesn’t bring anything new to the table. It is partnered with PornHub. Unfortunately for the coin, its value has dropped dramatically as users simply use better privacy coins for purchases. More of a marketing gimmick than a groundbreaking protocol — my recommendation is to stay away.

2. Bytecoin

Another altcoin promising privacy to users. Unfortunately, its white papers don’t add much credibility to the team behind the coin. The dates are unverified and the names of developers don’t have an online presence. The coin has also been delisted by exchanges such as Binance and OKEX. There are issues with the underlying protocol that have gone unfixed by the development team. Not a good look, do not invest.

3. Monero Classic

When Monero implemented a hard-fork in early 2018, it was in response to ASIC miners being developed. The fear from the community was a centralized mining operation. It seems the majority of the community agreed and the hard fork was successful. Monero Classic is what’s left of the old protocol. It is propped up with Chinese support from the ASIC miner-manufacturer. Stay away from Monero Classic, it lacks any vision other than ASIC profits.

4. McFly Tokens

Not an independent protocol, instead, this company is crowdfunding by selling tokens. Their goal is to create flying cars — giant drones that transport people. They use artificial images in the video on their site to show you what a full-sized transport vehicle looks like. Flying cars, really? I would stay away from this company.