Has the vanishing of Altcoins already begun?

Since 5 months the crypto market is declining. Though some good projects have made some important progress, this trend seems to continue all the way down. Without the positive news about climbing courses from Bitcoin as the "lighthouse-coin" the market is struggling to at least not loosing more land.

Besides all conspriracy theories of price manipulation this had to happen. With so many projects, promising everything and delivering nothing, it was just a matter of time. And still so many new ICOs are popping up like mushrooms. If this trend continues we have more coins than we have people on Earth.

How long did we expect this to continue? How much money do people have to dump into worthless projects?

The big problem of the crypto markets is that people thought we can all be rich in no time. They all went wild in some kind of gold rush. But we cannot become rich all together. If few become rich many more have to loose money.

Those uninformed, greedy and impatient people are now pulling their money out of the market or at least putting no fresh money in it.

Despite the market going down I believe that this is a good thing. Let the useless pump and dump coins die. Let the market learn its lesson and let the projects with use cases work on their goals. Just lean back if you know you have put your money into those projects.