Why Bitcoin Eats Altcoins For Lunch
Bitcoin is King of Crypto and for good reason, one should not deny it but simply accept it as fact:
WHY BITCOIN EATS ALTCOINS FOR LUNCH
All alts are riding the success of bitcoin. On top of bitcoin’s monetization process, unprecedented monetary and fiscal policy leads to a breakdown in the pricing mechanism of “free” financial markets.
Traditional finance doesn’t understand bitcoin, and they bring their idea of diversification to the world of monetary goods (not a good idea). In addition, retail speculators are shortsighted and constantly looking for the next big thing (SPACs, GME, Dogecoin, ETH, Tron, etc.) to get rich quickly. They fall for unit bias and chase price.
At the end of the day, alts fall to the greater fool theory. Can I sell my token to someone else at a higher price?
The best monetary good (bitcoin) becomes money, and the rest are nothing more than gambling in a casino. Dogecoin (nothing more than a joke/meme) closing in on Ethereum as the number three coin should help shed more light on that.
Full article here: https://bitcoinmagazine.com/markets/bitcoin-is-the-best-crypto