I thought it would be interesting to see how the market has shaken out over the past 5 years. We have plenty of the historical top 10 posts which show how volatile the top 10 can be. It's obvious that BTC and ETH have a fairly strong hold as the top 2 coin, but what happened to the others?
If you picked any coin in top 10 5 years ago, would you still be up? Let's find out.
The reason I picked 5 years ago was we had a bull run 5 years ago, and presumably that's when most people bought these coins. Most people around this sub now likely bought their coins in 2021 bullrun. If they bought in the top 10 thinking they would be safe, they may be right, though they may not understand the historical data.
Had you bought the coins listed below 6 years ago (in 2016), before the 2017 bullrun, the numbers would look very different. However, this would assume you picked the coins that were going to be popular, not the ones that were already popular. For most people, they pick the already popular coins.
Top 10 coins on September 1, 2017 and their price on that date, today, and the change
| Coin | Price- September 1, 2017 | Price- September 1, 2022 | Change |
|---|---|---|---|
| Bitcoin | $4,892 | $19,915 | +$15,023 (+307%) |
| Ethereum | $388 | $1,549 | +$1,161 (+299%) |
| Bitcoin Cash | $622 | $115 | -$507 (-81.5%) |
| Ripple | $0.249 | $0.325 | +$0.076 (+31%) |
| Litecoin | $86 | $55 | -$31 (-36.0%) |
| NEM | $0.332 | $0.043 | -$0.289 (-87.0%) |
| Dash | $393 | $44 | -$349 (-89%) |
| Iota | $0.807 | $0.278 | -$0.529 (-65.6%) |
| Monero | $141 | $151 | +$10 (+7.1%) |
| Ethereum Classic | $22 | $32 | +$10 (+45.5%) |
As you can see, outside of BTC and ETH, 5 coins lost significant value and only 3 gained value. The value gained was fairly low (+31%, 7%, and 45%).
Buy and hold has been a strategy that has worked for BTC and ETH, but in everything else it hasn't been as sure-fire as some in this sub would like you to believe.
Stay smart out there. If you lose faith in a project, don't be afraid to sell at a loss. A loss of 50% is much better than a loss of 90%.
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