Topic: Better than accumulating altcoins? - page 2. (Read 270 times)
$5 per day can be very little or quite a lot, depending on where you live and your income. Think about Bitcoin and altcoins as S&P 500 vs penny stocks - an individual penny stock can easily outperform the more solid stocks in a certain timeframe, but no one really knows which penny stock or which altcoin is going to pump, and on average such investments perform quite purely. It might be tempting to think that you are an expert trader and can find the mythical "good project" that will make you rich quick, but that's exactly what pump&dumpers want you to think.
Before making any financial decision you should first be well informed and analyze the crypto market.
That is true for him to know more about the history of bitcoin, knowing how its price fluctuates, but if he wants to holder, he will finally see that his plan is not bad. Also be aware that the crypto market is quite risky, with frequent ups and downs.
For altcoins users, the market is very risky, also very risky for traders irrespective of the coins. But for bitcoin holding, the market is not that risky if he is having a long term plan. Only what can make it risky is bitcoin crackdown, which I think is not possible.I believe in btc in the long run and I also invested a lot of my money in btc but I think it would be a smart strategy that you diversify your investment.
Why? Bitcoin is the most decentralized and better hedge against inflation in long term. Altcoins are more deadly in bear market, I can mention many altcoins in the first 100 rank according to their marketcap that did not make its 2017 all-time-high in 2020 and 2021 and even till now and they have fallen on price again. For investment, I will suggest bitcoin. This will be a kind of strategic investment that will be profitable. Even I wonder why some people will leave their money in fiat instead than bitcoin or other valuable assets.I agree with you that bitcoin is probably safer for a long-term investment than altcoin but I believe that every smart investor should divide their investment into low risk, moderate risk and high risk, and one should also invest in different asset classes.
High-risk assets can yield higher returns than low-risk ones, and lower-risk assets reduce the risk of the entire portfolio.
Different asset classes on the other hand are good protection against major market disruptions due to unexpected crises.
Personally, I invest not only in crypto but also in business start up projects in energy.
Before making any financial decision you should first be well informed and analyze the crypto market.
That is true for him to know more about the history of bitcoin, knowing how its price fluctuates, but if he wants to holder, he will finally see that his plan is not bad. Also be aware that the crypto market is quite risky, with frequent ups and downs.
For altcoins users, the market is very risky, also very risky for traders irrespective of the coins. But for bitcoin holding, the market is not that risky if he is having a long term plan. Only what can make it risky is bitcoin crackdown, which I think is not possible.I believe in btc in the long run and I also invested a lot of my money in btc but I think it would be a smart strategy that you diversify your investment.
Why? Bitcoin is the most decentralized and better hedge against inflation in long term. Altcoins are more deadly in bear market, I can mention many altcoins in the first 100 rank according to their marketcap that did not make its 2017 all-time-high in 2020 and 2021 and even till now and they have fallen on price again. For investment, I will suggest bitcoin. This will be a kind of strategic investment that will be profitable. Even I wonder why some people will leave their money in fiat instead than bitcoin or other valuable assets. Since everyone are saying BTC is more reliable for long term hold than altcoins do you think it's a good idea to start accumulating bitcoin right now? Can 5$ per day on BTC makes any changes in few years later?
Before making any financial decision you should first be well informed and analyze the crypto market.
Also be aware that the crypto market is quite risky, with frequent ups and downs.
I believe in btc in the long run and I also invested a lot of my money in btc but I think it would be a smart strategy that you diversify your investment.
See in this article https://www.forbes.com/advisor/investing/top-10-cryptocurrencies/ a brief analysis of the 10 best cryptocurrencies currently. I suggest you also invest in some of these cryptocurrencies
Good luck with your crypto investment.
As @TheBeardedBaby said, it's never too late to start. Don't fall into classic trap thinking that since BTC ain't so cheap anymore as it was few years ago that you should instead focus on altcoins. As a newbie, that's recipe for ending up rekted. like many other that did that mistake.
$5 per day makes it ~$150 per month which is not a negligible amount at all and can certainly make a difference in 4-5 years so yeah, DCA is way to go when it comes to BTC.
$5 per day makes it ~$150 per month which is not a negligible amount at all and can certainly make a difference in 4-5 years so yeah, DCA is way to go when it comes to BTC.
Well, if you believe Bitcoin is going to rise in the future, and continue to do so, surely investing anything into it would be a good idea, no? At least that way you're likely benefiting from it, and to be honest you'll probably benefit more by investing into Bitcoin, than you would by gathering interest in a bank.
If history repeats itself, or even follows it at a much less drastic way, you'll still make a tidy profit on it. No one can tell you if it's the right choice for you, however most users here will tell you they have a good outlook on Bitcoin in the long term. If you can hold it through the turbulent times, then in most users eyes you'll be laughing as, and when you take it out.
If history repeats itself, or even follows it at a much less drastic way, you'll still make a tidy profit on it. No one can tell you if it's the right choice for you, however most users here will tell you they have a good outlook on Bitcoin in the long term. If you can hold it through the turbulent times, then in most users eyes you'll be laughing as, and when you take it out.
Since everyone are saying BTC is more reliable for long term hold than altcoins do you think it's a good idea to start accumulating bitcoin right now? Can 5$ per day on BTC makes any changes in few years later?
It is never too late to start, of course you won't make the same return as people who invested for example 5 years ago.
The lower (not always earlier) you enter, the better. Just an example, the btc price in middle of 2017 was above 4000$, in 2019 btc went down below 4000$.
You can see the bitcoin performance until now here > https://www.tradingview.com/script/2HTjMg31-2020-Updated-Bitcoin-Logarithmic-Growth-Curves/
If bitcoin follows this course of the curve most likely you can turn those 5$ into 50$ and even more in the couple of years. That's of course pure speculations and not any type of financial advice.
After the institutional investors joined the marked, the previously perfectly working signs like BTC dominance over the alts and the positive/negative news do not move the markets as expected.
The 100K prediction of before the end of 2021 didn't happen so we will need to collect new data and make new analysis. I wonder if the halving will continue to have the same effect over price as it used to have after the past few halvings, just two more years and we'll find out.
Since everyone are saying BTC is more reliable for long term hold than altcoins do you think it's a good idea to start accumulating bitcoin right now? Can 5$ per day on BTC makes any changes in few years later?
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