David Zimmerman is a research analyst at K33 Research.
How is altcoin trading like online poker? Let me explain. I have played over 2,000,000 hands of online poker. Starting in university and going on to play professionally for five years, I got to experience the industry evolve firsthand. The first major poker boom occurred in the mid-2000s. This drew in millions of online players worldwide and created some highly profitable games.
As I look at the altcoin trading landscape now, some muscle memory is kicking in, as I sense the whole game getting tougher in a not-so-dissimilar fashion.As the saying goes, “there’s a million ways to make a million dollars.” In altcoin trading, there are dozens or maybe hundreds of ways to approach the markets to make juicy returns. You can be a scalper, swing trader, yield farmer, airdrop hunter, new-launch sniper; the list goes on.
This proliferation of altcoins combined with relatively modest capital inflows for altcoin speculation ultimately means one thing: modest amounts of capital chasing a massively booming number of assets. Many altcoins still have negative year-to-date returns despite Bitcoin being in a bull trend since late 2022 and setting a general risk-on environment for crypto. This has made the entire game of altcoin trading, in all its various forms, considerably more difficult.
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