I warned about this almost 2 weeks ago and it was ignored by everyone.
"Is Crypto another Dot com bubble waiting to pop" is the title you can't vote on it as it is 15 days old as of today but you can still read it.
I likend the crypto bubble to the Dot com bubble of the 1990's the truth is as you stated morre and more ALT/SHIT coins are being made daily and people that have no idea of how crypto works, and what it is used for.
People are seeing big gains in BTC and thinking everything will keep going up well the truth of the matter is BTC and a few ofthers like ESO have a value because they are used and 99% of ALT coins have little to no value because they are either not needed as the gap is already covered or simply because they are scam coins to take advantage of peoples lack of knowlage and greed.
Feel free to keep selling your BTC STEEM ESO ETH and so on for 2 reasons
I can then pick up some cheap coins and hold onto them for a few years and make a killing (yes years I brought my house 25 years ago for 35k now it's worth 175k.) hold if not for you then for your kids and grand kids
SHIT Coins will seem less and less of an investment to people and they will start to vanish (also great for real crypto that has a use) with less ALT/SHIT coins real investers can invest without some Fly by night ICO making Y.A.C (Yet Another Crypto) thats only there to spur peoples greed and leach as much out of them as possible before the bubble pops.
What is ESO
Couldn't have said it better myself
media source https://www.quora.com/What-is-EOS-cryptocurrency
For peope that have been hit by the 100's of shit coin and made the mistake of buying them I say sell them while they have any value and move it into ETH BTC ESO STEEM.
I know most of you think well whats the point i can't aford 1 bit coin.
0.00011 right now is $1 and the price of BTC will not may will reach over $100k or more may take 1 years may even take 2 but that $1 or 0.00011 BTC will be worth over $10 and if the people in the know are right who think BTC could climb to over $1m then your 0.00011 is worth $100 all for thats from just $1 and a bit of waiting while your Y.A.C is worth less then the electros it's made from.
Damn i would have just posted my own but o well lol.