Altcoin Skeptic Eric Crown Abandons Entire Space, Calls 99.9% Worthless

Technical analyst Eric Crown has taken an unorthodox stance on altcoins. In a recent interview, he revealed that he doesn't hold any altcoins at all and believes over 99.9% of them are worthless.

Crown argues that Bitcoin (BTC) and traditional markets make up his portfolio instead. At the time of writing, BTC was trading near $77,207 after a 1.24% daily decline.

He based his assessment on multiple cycles, stating that 'most people would be better off just buying boring stuff that compounds year-over-year and not trying to overthink it.'

Crown also dismissed the Bitcoin dominance chart, which he believes failed to accurately predict altcoin rallies. He claims that traders often misinterpret the chart's significance, as new tokens launch constantly while Bitcoin's supply remains fixed.

Instead of relying on traditional metrics, Crown recommends analyzing a token's performance against both the US dollar and Bitcoin. This approach helps to identify whether a token is truly outperforming or simply benefiting from a broader market rally.