I think Bitcoin is the safest bet in crypto - for the next few years to come. But people are greedy and always want more. So they go for newer and faster. But as it seems now, Bitcoin with it's 0,4%/day growth is hard to beat.
The last Bear-Bull cycle was very slow and took 4 years to complete, but this time it goes 4 times as fast, We went from ATH to ATL in half a year.
Maybe this is also a reason?
Or Bitcoin fees that have gotten very small again as opposed to last year?
No more FUD about forking or 'flippening' for Bitcoin like last year?
Last year there was much talk of Bitcoin being replaced by newer, faster, better coins, but that's all gone now.
Last year a lot of people lost money in hyips (Bitconnect, Control Finance, etc.) and now mining has become unprofitable too. So maybe people come back with their feet on the ground and seek for safety and avoid adventures where they can lose assets?
Steem is the only other altcoin that is real and it's the fastest coin too. But the Steemit platform sucks big time and people have left it and nobody is posting comments anymore besides "thank you Sir" "Well done Sir" "please vote for my post too Sir" or "speedbot gave you an upvote" "smallbot gave you an upvote" etc.
The logic behind both Bitcoin and Steem is very simple and comprehensible. The logic of most of the other coins is often very hard to grasp.
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Hey very very comprehensive reply and I love this kind of healthy and productive discussion which is very hard to get these days.
I can remember Bitconnect, which was the biggest scam and some of my friend lost a lot in that. Bitcoin is the soul of all cryptos, if bitcoin is in bad shape then it will affect others too.
Steem is really very good A category coin in terms of its blockchain, and its blockchain is really very good. But this platform has a lot to do to get a real utility value of steem. Especially steemit has to do something for bots, these days bots are really making all sort of nonsense and I would say this is also the dark side of decentralized concept.
Love to meet you in steemit. Thank you.