Tales of woe are easy to come by in the current market, in which most altcoins are faring multiples worse than bitcoin. Investors that have avoided the following projects, however, can draw some solace.
Also read: US Court Issues Emergency Order Halting a Planned Initial Coin Offering
This Year’s Underperforming Coins
Have Fared Worse Than You Think
It’s easy to find underperforming altcoins from the past 10 months of largely bearish market action. Echelons easier, in fact, than finding the handful that have weathered the storm and have appreciated in value or, at the very least, have outperformed bitcoin. Taking a magnifying glass to 2018’s altcoin dunces makes for a productive exercise; not to revel in the misfortune of others, but for educational purposes.
“I bought the ‘dip’ a dozen times this year,” one Redditor complained recently. “Went down after each time.” Another remarked: “I’ve lost 95 percent of 25k and have been buying all the way down.”
The “hodl” meme that prospered in 2017, helping traders through “China bans bitcoin” FUD and other negative news cycles, has largely been abandoned now that hodling has been proven to be a disastrous strategy for anyone heavily invested in altcoins. The BTFD (Buy the F– Dip) meme has also waned, as traders have learned that in many cases the dip is often merely a precursor to a series of even lower dips.
Lesson 1: There’s a Big Difference
Between a 90% and a 95% Loss
Wanchain (WAN), one of the more established cryptocurrency projects, is down 90 percent from its all-time high (ATH). The helpful break-even multiple column provided by Onchainfx shows that WAN would need to do a 10x to reach its previous ATH. Icon (ICX) is down 95 percent
