Before analyzing anything related to Altcoins, it is important to keep a few things in perspective. Bitcoin is the only private crypto that, does not fall in the category of Altcoins. All other private cryptocurrencies including ETH, are essentially Altcoins. We used the term 'private' cryptocurrencies because, CBDC (Central Bank Digital Currency) might in the near future, define a category for itself.
Back to the main topic of Altcoins, defining their own performance and future. The crypto industry would at present be having, no less than 4,000 Altcoins. No secret that these would include cryptos with potential, neglected and abandoned cryptos and a few that are a bit suspicious! So when we talk about Altcoin trends and possibilities, no more than 3% to 5% of these Altcoins, would be relevant.
Altcoins that are backed by comprehensive projects, would signal potential. No doubt that Altcoins with a good track record marked by consistency, would also hold promise. Publicity and marketing would definitely play a part, but this would need to exclude fairy tales and 'price pumping'. In this context Altcoins backed by projects with substance, could strike the best narrative.
The focus would be on Altcoins that can stand apart from the crowd. Let's not discount the fact that, crypto investors are becoming more knowledgeable about all aspects of the industry. This should explain why plain market noise, would not gain the desired results. It would not be wrong to say that well informed crypto investors, with an ability to evaluate crypto potentials, hold the key to the future of Altcoins.
No matter how good Altcoins are, it would require a specific investor mindset for them to gain attention. The crypto community has until recently, been narrow and relatively closed - almost entirely dominated by techies. The year 2020 would be remembered for the pandemic but, was also a landmark year for cryptocurrency.
Interest in crypto trade has spread far and wide, potential investors now come from all walks of life - crypto space has diversity and a healthy mix of mindsets. Investors seek knowledge of a wider range of cryptocurrencies, they are no longer obsessed with Bitcoin, ETH and a few other cryptos. We have seen a changed mindset in operation, hope is that it would drive the desired change that is needed in crypto markets.
For Altcoins to define their own future, it is important for project promoters and investors to be on the same page. It will then be just a matter of time before, crypto market activity includes a wider range of cryptocurrencies. That will be the time when funds would move across cryptos, based on their true potential. Altcoins should prepare to move out of the shadows - there can be no better time for this than now!
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