Bitcoin ETF has been approved which is a good new for other Altcoin as well. As we all know, since Bitcoin is the pioneer of cryptocurrencies if there is a significant increase in the price of Bitcoin it will also affect the price of other cryptocurrencies. For instance if by the end of the year Bitcoin hit the target of $100k definelty other altcoins will experince a huge increase in their price. Bitcoin bull run is as well altcoin bull run.
As a rule, the growth of bitcoin pushes altcoins to grow. But this doesn't mean that all, literally all altcoins will grow. Some yes, some probably no. Why play roulette and try to guess which altcoins will rise in price if we know for sure that bitcoin will rise in price? For the sake of possible greater profit? But the risks with altcoins will grow disproportionately. Is it worth it?
My candid advises to people who do not have the opportunity to buy bitcoin, is to find an altcoin that they can buy and hodl. If it is difficult to know which altcoin to buy, then I'll just list a few here i think i can spend some bucks on. They include Solana, Ethereum, BnB and Doge.
Let's put some effort and hope for the best to happen.
You have no idea how much everyone on this forum loves to give advice. Maybe because the adviser doesn't bear any financial responsibility for his advice. If your reputation and money were on the line, would you share your recommendations as easily?
Holding almost all altcoins is a stupid idea, because almost all altcoins rapidly depreciate over time. With some exceptions. Altcoins should be sold immediately after it has brought at least some profit. The longer you keep this, the higher the likelihood of being left with
candy wrappers.
If any national currency is a
recolored dollar, then any altcoin is a
recolored bitcoin. Why stock up on recycled materials when you can have the original ones?