Willy Woo

on-chain analysis, partner @adaptivefund, crafting @hypersheet with great love, investor and advisor to @levelinvest

Tweetstorm: Performance Against Bitcoin

less than 1 minute read

Crypto Words has moved! The project has migrated to a new domain. All future development will be at WORDS. Go to WORDS

Tweetstorm: Performance Against Bitcoin

By Willy Woo

Posted August 17, 2019

The entire crypto market in one visual. This is the historic performance of 2000+ coins in satoshi value (performance against BTC).

Zooming in, here’s the 2017 shitcoin boom and bust. Powers of 10 on the y-axis, so alts lost 90-99% of their satoshi value.

One thing to note is this is all a race to achieve Lindy Effect, only a few coins have achieved this. They are the thick lines (sufficient cap and SoV scale), that stayed horizontal of better (kept up with Bitcoin), for a long time (at least one full 4 year bull bear cycle).

The data also questions the common wisdom that alts are leverage plays on BTCUSD. We only saw this in the 2016/17 bubble, there is very little evidence of that happening in the 2012/13 bull. In the first bull cycle pre-2012 alts were performance neutral as they didn’t exist.