Tweetstorm: Performance Against Bitcoin
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Tweetstorm: Performance Against Bitcoin
By Willy Woo
Posted August 17, 2019
The entire crypto market in one visual. This is the historic performance of 2000+ coins in satoshi value (performance against BTC).
Zooming in, hereβs the 2017 shitcoin boom and bust. Powers of 10 on the y-axis, so alts lost 90-99% of their satoshi value.
One thing to note is this is all a race to achieve Lindy Effect, only a few coins have achieved this. They are the thick lines (sufficient cap and SoV scale), that stayed horizontal of better (kept up with Bitcoin), for a long time (at least one full 4 year bull bear cycle).
The data also questions the common wisdom that alts are leverage plays on BTCUSD. We only saw this in the 2016/17 bubble, there is very little evidence of that happening in the 2012/13 bull. In the first bull cycle pre-2012 alts were performance neutral as they didnβt exist.