Ignis IGNIS

$0.0402
Market Cap $ 30.631 MM (#156)
24h Volume $ 480.344 K
Chg. 24h: -0.20%
Algo. score 2.7/5  (#780)
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Ignis News

Worst Cryptocurrencies of 2018 Have Left Some Heavy Bagholders

Tales of woe are easy to come by in the current market, in which most altcoins are faring multiples worse than bitcoin. Investors that have avoided the following projects, however, can draw some solace. Also read: US Court Issues Emergency Order Halting a Planned Initial Coin Offering This Year’s Underperforming Coins Have Fared Worse Than You Think It’s easy to find underperforming altcoins from the past 10 months of largely bearish market action. Echelons easier, in fact, than finding the handful that have weathered the storm and have appreciated in value or, at the very least, have outperformed bitcoin. Taking a magnifying glass to 2018’s altcoin dunces makes for a productive exercise; not to revel in the misfortune of others, but for educational purposes. “I bought the ‘dip’ a dozen times this year,” one Redditor complained recently. “Went down after each time.” Another remarked: “I’ve lost 95 percent of 25k and have been buying all the way down.” The “hodl” meme that prospered in 2017, helping traders through “China bans bitcoin” FUD and other negative news cycles, has largely been abandoned now that hodling has been proven to be a disastrous strategy for anyone heavily invested in altcoins. The BTFD (Buy the F- Dip) meme has also waned, as traders have learned that in many cases the dip is often merely a precursor to a series of even lower dips. Lesson 1: There’s a Big Difference Between a 90% and a 95% Loss Wanchain (WAN), one of the more established cryptocurrency projects, is down 90 percent from its all-time high (ATH). The helpful break-even multiple column provided by Onchainfx shows that WAN would need to do a 10x to reach its previous ATH. Icon (ICX) is down 95 percent in comparison. On paper, it may sound like ICX has fared only marginally worse than WAN, and yet it would take a 20x multiple for icon to reach its former peak of $12.04 per token. The worst performers of 2018 by break-even multiple, according to Onchainfx Lesson 2: Don’t Trust the Market Cap of Forked Coins Market cap, or the number of coins in circulation multiplied by price per coin, is a notoriously crude yardstick, but it’s particularly bad when it comes to forks. Coins like bitcoin private and bitcoin diamond have market caps calculated by the number of BTC holders who could technically claim the forks. But in reality, the vast majority of bitcoiners have no interest in these minority forks and will never bother to obtain them, making their true circulating supply and market cap significantly lower. Bitcoin atom (BTA), for example, has a market cap of $4.67 million. Its 24-hour volume is less than $15,000, however, and BTA is down 99.98 percent for the year to date, according to Coincodex. Another coin with a supposedly high market cap, ignis, is down 99.66 percent this year, despite technically having a cap of $30 million. Ignis has fallen so far, its yearly chart appears to be dead after March. Lesson 3: There’s No Such Thing as a Price Floor Just because an altcoin is down more than 90 percent doesn’t mean the road to (partial) recovery is in sight. Many traders racked up huge losses this year — not from buying at the top, but from buying at what they believed to be the bottom. As one trader confessed: I bought bitclave (CAT) on exchange at ICO price thinking wow a shitcoin finally at ICO ... then it went -99% on me. As one can see in Telegram channels that share the collective salt of crypto investors, everyone’s portfolio is underwater this year. It’s just that some have shipped water at a much faster rate than others. In the case of leading cryptocurrencies such as bitcoin core, bitcoin cash and ethereum, the vast majority of investors didn’t purchase these assets at their ATH. Anyone who held BTC or BCH a year ago, for instance, would still be up on their investment by around 30 percent. The markets aren’t nearly as gloomy as crypto’s worst critics would suggest — except in the case of traders who got carried away and diversified into risky altcoins and ICO tokens during peak mania. “I had a dream of making so much I could retire. I thought it was a once in a lifetime opportunity to make tons of cash and I was worried about missing out so I took a huge risk,” one investor recently confessed. “Life has humbled me. I’m an idiot.” Do you think altcoin investors will be shrewder in picking their portfolios in the future, or will the lessons of 2018 be promptly forgotten when the bull market returns? Let us know in the comments section below. Images courtesy of Shutterstock, Onchainfx, and Blockmodo. Need to calculate your bitcoin holdings? Check our tools section. The post Worst Cryptocurrencies of 2018 Have Left Some Heavy Bagholders appeared first on Bitcoin News.

9 days ago

To all crying little noobs who have no idea what they're invested in or WHY they're invested in.

1. Atleast read the whole front page before you ask same dumb question for 134th time. 2. Bittrex never said anything about Jan 5. Do your own research instead of believing in everything you see on reddit. 3. NXT is not dead, it's a solid completed project ready for new investors, developers will continue to work on this platform for years. Do your own reaserch. 4. Ardor is not replacing NXT and it's not like NXT 2.0. "They are two different solutions for different clients." Do your own research. 5. "Now with Jelurida's money on its back NXT will focus more on marketing side." Do your own research. 6. NXT price got pumped before the airdrop event, now it's dumped. Did you ever hear about "Buy the rumor sell the news"? Then what did you expect? 7. IGNIS futures price have nothing to do with real IGNIS price. Don't tell me you expected the brand-new coin to jump inside top 15 marketcap just like that. 8. NXT found the bottom at around 3200sat and it's not "mooooooning 2.0" anytime soon. It will need to consolidate for days or weeks and make a steady slow growth before it starts pump to 7,8 or 9k again. Let's hope I'm wrong and it will happen sooner, who knows. 9. It's not a shitcoin. You lost money because you bought high. That's it. 10. When BTC spikes most of the alts bleed, **all time, everytime.** **11. DO YOUR OWN RESEARCH.**...

9 months ago

To all angry people on Bittrex

Hey guys, Although the IGNIS airdrop happened in the NXT wallet this doesn't mean it should instantly be available on trex. Bittrex said they had to go through testing first and would implement it on the exchange whenever everything worked how they wanted it to. This means they could list it today, tomorrow, or maybe next week. Bittrex is a legitimate exchange. They aren't scamming anyone. Just be patient. If everything works well with the IGNIS chain, it will only be a matter of time before it will be on trex. Hope that helps! ...

10 months ago


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