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Rogers: 90% of Altcoins Doomed



Most of the digital money will not survive the correction.



16.Aug.18 7:36 AM
By Abigail Richards
Photo candlelightstories.com

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Rogers: 90% of Altcoins Doomed
Most of the digital money will not survive the correction, but the drop in the market is a good chance to buy more bitcoin, the president of the crypto-currency wallet operator said on Wednesday.

Most crypto currencies do not have prospects, they can depreciate already in the near future, said president of the operator of electronic wallet Xapo Ted Rogers.

The world could be in the midst of the extinction-level event for “cryptoassets”. He noted that good projects will survive the collapse of the digital money market, like Amazon in the days of the dotcom bubble.

"90%+ of @CoinMarketCap list will disappear eventually - might as well happen now. Meantime, lower BTC price means incredible opportunity to buy more #bitcoin," Rogers wrote on Twitter on 13 August.

He stressed that ICO will eventually become a standard way to attract investment. But now there are many substandard projects in this industry.

In 2018, the value of the digital money market dropped by 76% - from $ 830 billion to $ 203 billion. Since August last year, the industry has risen in price by almost half, and the price of most coins has soared.

The founder of the consulting company Post Oak Labs, Tim Swanson, earlier reported a decrease in the number of bitcoin transactions to the level of early 2016. Swanson referred to the analytical report Diar for institutional investors, which will be released on August 20.



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