Venture Capitalist: Crypto Gains Won’t Come As Easy During Next Bull Run

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During the height of the 2017 crypto speculative bubble, it wasn’t uncommon for random altcoins with little to no use case at all to rally over a thousand percent or more. Life-changing wealth was generated.One venture capitalist claims that returns like that won’t be quite as easy to come by during the next bull market, however, does believe those few altcoins that do show true promise will pump alongside Bitcoin.Remembering Life-Changing Altcoin Wealth and the Bitcoin BubbleIn late 2017, the mainstream media and public learned of Bitcoin’s rise from virtually worthless to at that point nearly $10,000.Within days of that level breaking to the upside – currently acting Bitcoin’s strongest resistance yet – the asset skyrocketed and set its all-time high record of $20,000.Related Reading | Crypto Confusion: Long-Legged Doji Across Altcoin Market Hints At Trend ChangeStories of teens becoming millionaires nearly overnight caused a rush of FOMO into not just Bitcoin, but altcoins like Ethereum, Ripple, Litecoin, and countless others.Top altcoins ballooned even more so than Bitcoin.Further helping Ethereum’s rise, the platform was used to launch initial coin offerings where investors traded ETH for newly minted coins promising to be the next Bitcoin.Even these unknown tokens pumped to irrational levels, adding to the bubble. It wasn’t unusual for a relatively unheard of coin to suddenly experience a thousand percent pump or more. Then later dump by 99%.In 2017, you could have bought literally any alt and it was a good investment.Imo this won’t happen again.However, I still believe that the bull run will return, pumping the few solid alts out there.Predictions:$BTC $150k$ETH $9k$LINK $200$BNB $500$VET $1$XTZ $200— Simon Dedic (@scoinaldo) June 4, 2020VC: Crypto Gains Won’t Come As Easy During the Next Bull MarketThose early gains from the last bull market, won’t come as easy, claims venture capitalist, Simon Dedic.Dedic is the co-founder of Blockfyre and managing partner at Moonrock Capital.Although he says those that missed out the first time around won’t have it simple, as long as the right altcoins are chosen, lightning may strike again after all.To paint a clear picture as to why Dedic and most across the finance world would agree that such returns are unlikely a second time, all you need is math and common sense.The total altcoin market cap – pictured above – grew from roughly $60 million USD in value, to $450 billion in total market cap. This represents an over 780,000% ROI.For the total altcoin market cap to grow a similar percentage, it would take the total altcoin market cap to over $450 trillion in value.Related Reading | This Cryptocurrency Shows Clear Technical Breakout of 800-Day DowntrendAccording to the Global Wealth Report published by the Credit Suisse Research Institute, global wealth grew in 2019 to a total of $360 trillion.This means that the altcoin market would need to grow to larger than all the world’s wealth, which is distributed across many asset classes.There also likely won’t be ICOs this time around. Small-cap altcoins that have fallen into obscurity, are likely doomed to stay there as investors may not make the same mistakes twice.Instead, assets with real value this time around will absorb most of the capital, but even they won’t be able to grow to such unrealistic levels.

Via: https://www.newsbtc.com

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