My concern with the current Altcoin market (be careful)

These are my thoughts on Altcoins and my overall hesitations with the market in general. For my subs that that don’t like crypto videos…don’t worry, I don’t make many of these and I do my best to make them as informative and unbiased as possible, so there’s no personal agenda behind this. Enjoy! Snap/Instagram: GPStephan

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Just a quick disclosure here - I’m invested in several Altcoins and there’s a few I think have a ton of potential. I’m not going to mention any of them, I’m not going to FUD anything I think is awful, I have nothing against altcoins, not gonna talk poorly about anything specific, but I wanted to focus on this market in general, the current state of its popularity, and a few of my concerns behind it.

Don’t get me wrong, I think we’ll see some promising growth long term from some alt coins, I’m sure and some of which I think could be a real contender of Bitcoin and Ethereum. I actually think altcoins in general will have a lot of potential and we’re really just in the infancy stage of all of it…but the current way this is going is unsustainable. There is no way so many of these coins can sustain these price increases where you can profit consistently unless you’re lucky, you plan your entry and exit points and get them right based off technical knowledge, or you’re in “the know.” I hear so many people talking about the dollar being manipulated, but wow…he level of manipulation in these altcoins is through the roof.

The amount of shilling and pump and dumps I’m seeing is atrocious. Right now is really like the wild wild west where it’s a total free for all and it’s all entirely unregulated, where the price of a coin depends more on the marketing and the right twitter shout outs than the technology behind it…some coins don’t even having a working product! Think about that for a second.

THIS is my concern. I’m not talking about any one coin specifically, because some of them I really like, and some of them are just so absurd. But the sad reality is that the absurd coin could pay for some shout outs and if a pump and dump group gets in on it, with the right combination of a price increase and marketing, it could skyrocket. Makes zero sense, but because of the unregulation of this, it’s basically a free for all. And now, every other company is hopping on the “lets make a coin” train and trying to implement their own currencies. And they’re making a ton of money in the process.

The reality here is that this just isn’t sustainable long term. Something will have to change at some point…i don’t think this can continue in the long run, nor do I think this is an indication of a healthy market. It’s nothing against Altcoins or cryptocurrency, it’s just about something having real use and longevity. When a single tweet has the power to send a coin up 500% in a week, or down 80% in a day, that really says something about the speculative nature of this market. And because we’re all still so early to this and all of this is still extremely new, relative to every other market, we’ve got a ways to go before we how this plays out and can realistically value a coin.

Don’t get me wrong, I’m not against alt coins at all. I like many of them. I think many are absolutely crazy. I think some have potential and some are outright unreal. In terms of money to be made, you can make a ton, you could lose a ton. Even though I’ve made money from alts so far, I’m not naive to the fact that I could just as easily lose it all in the next week. So when I raise my concerns, it’s coming from a place of being completely unbiased on how this plays out.

I’m not saying it makes sense just to sit on the sidelines and watch, either, but just to be realistic with your expectations that many of these will end up failing. Some of them may do well. But I’d hate to see people get burned and lose money because they didn’t fully understand what they were getting into. That’s the entire point of this video.

For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness@gmail.com

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