Will old coins pump in the next crypto bull run?

in #crypto4 months ago

My gut feeling is no.

My chief proof is the way coins behaved in the 2021 bull run.

Any coin that had existed prior to 2017, and had done well in the 2017 bull run, failed to repeat the pump in 2021. The main reason was bag-holders.

Anyone who bought at the top in 2017, then endured a painful three-year bear market which crushed their spirits. By the end, all they wanted was to break even and cash out.

So as the prices started to rise in 2021, they were capped by a tsunami of bag-holder selling as the break-even points were reached. Some old coins never hit their 2017 price as a result. Litecoin is one example, Steem is another. Here is Steem's chart:

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Coins that launched after 2017 had very nice pumps in 2021 as they had no bag-holders. But in the next pump, desperate bagholders trying to breakeven will weigh them down.

Only the few coins launched after 2021 will do well, and bitcoin will do well of course.