Bitcoin prices remain on the low side, and as a side effect, altcoins are becoming worth less and less every day. A lot of people hope their favorite altcoin can break away from Bitcoin in regards to their value. I for one would love to see that happen as well. Unfortunately, that won’t happen any time soon I’m afraid.
You can argue that Litecoin managed to do so by getting a LTC/USD trading pair on exchanges. Granted, that is one of the best things to ever happen to Litecoin. But is it really giving Litecoin a value unrelated to Bitcoin? Not entirely, which is a shame. Now that Bitcoin remains low, you would expect Litecoin’s price to go up slightly. That isn’t happening.
Exchanges like Crypto-Trade offer other coins-to-fiat options too. However, neither of those coins is seeing much success on their own either, because they are all tied to Bitcoin for value, and that won’t change any time soon.
Add the fact that we are just knee deep in different altcoins, with more coming out each and every week, which isn’t helping things either. I really do like altcoins , but seriously guys, enough is enough.
So what will the future bring for altcoins? That depends entirely on the future of Bitcoin, unless something changes dramatically.
That’s the fun part of cryptocurrency though, you never know what might be right around the corner.