Most Cryptocurrencies to Hit Zero? | #bitcoin

Hi, "Need C+ Memes" here! So today im going to talk about most cryptocurrnecies to hit zero. So let's begin!

The tumble in cryptocurrencies that erased nearly $500 billion of market  value over the past month could get a lot worse, according to Goldman  Sachs Group Inc.’s global head of investment research. 

Most digital currencies are unlikely to survive in their current form,  and investors should prepare for coins to lose all their value as  they’re replaced by a small set of future competitors, Goldman’s Steve  Strongin said in a report dated Feb. 5. While he didn’t posit a  timeframe for losses in existing coins, he said recent price swings  indicated a bubble and that the tendency for different tokens to move in  lockstep wasn’t rational for a “few-winners-take-most” market. 

“The high correlation between the different cryptocurrencies worries  me,” Strongin said. “Because of the lack of intrinsic value, the  currencies that don’t survive will most likely trade to zero.” 

Today’s digital coins lack long-term staying power because of slow  transaction times, security challenges and high maintenance costs,  according to Strongin. He said the introduction of regulated Bitcoin  futures hasn’t addressed those concerns and he dismissed the idea of a  first-mover advantage -- noting that few of Internet bubble’s high  fliers survived after the late 1990s. 

“Are any of today’s cryptocurrencies going to be an Amazon or a Google,  or will they end up like many of the now-defunct search engines? Just  because we are in a speculative bubble does not mean current prices  can’t increase for a handful of survivors,” Strongin said. “At the same  time, it probably does mean that most, if not all, will never see their  recent peaks again.” 

Strongin was more upbeat about the blockchain technology that underlies  digital currencies, saying it could help improve financial ledgers. But  even there he sounded a note of caution, arguing that current technology  doesn’t yet offer the speed required for market transactions.