But whereas the supply of bitcoin may be limited, that of cryptocurrencies is not. Bitcoin’s protocol is open-source, so there is nothing to stop others copying the idea. And they have done, with gusto. So far thousands of different cryptocurrencies have been launched. Like bitcoin, they have proved attractive to speculators (me too
).The magnitudes vary, but the price movements of cryptocurrencies tend to be correlated. When bitcoin is rising, the so-called “altcoins” tend to rise as well, and vice versa. Some of the altcoins are shady. Some of the bring actually an annual return. However, it is hard to assume which one will turn out as profitable and which one won't, right?What are your thoughts about this topic?
