According to the data from CoinMarketCap, there are more than 23,000 cryptocurrencies on the market so far, most of which have very low trading volume and acceptance, and there will have many scam projects. But Bitcoin is exceptional from all these cryptocurrencies. Which is at the leading position worldwide.
Bitcoin is favorite among investors for several reasons one of them is its market capitalization. Bitcoin has larger market capitalization than any other currency and have much liquidity, allowing it to be easily bought and sold without significantly affecting the price. Currently, there are various initiatives based on Bitcoin. Some countries have already recognized Bitcoin as a legal currency. As a result Bitcoin is now a naturally high demand cryptocurrency. But before investing here an investor must give importance to the timing. This must be a scheme for rich people who can hold bitcoins for a long period of time.
Since cryptocurrency is highly volatile, its ups and downs should be taken with ease. Those who simply accept the bearish and hold on to the bullish period will be the successful. Just remember that bearish market is the source of energy for bullish market.
I think there are like 40 projects on the market, rest are beyond my scope and would never invest. People who invest out of top 40 projects are people who are taking risks that are not worthy and shouldn't do that. I have seen people invest into projects that are not even in top 1000, that is a stupid move and should be avoided if you could and yet they still did it for some reason, no idea why they did that. Long story short, bitcoin is something I can agree with, that is the best coin and will stay as the best coin and will do as well as hoped for.
People who are acting as if bitcoin will not make them "enough" money do not realize that there are people who got rich off stocks, if stocks can go up that much, bitcoin can go up even more without a doubt, there is still enough potential left.
We cant really say that its a stupid move just because they didnt go into much less risky side on investing on Bitcoin or focusing into it since they've been risking out their money into something much lower rank
then it doesnt mean that they arent aware on what they are doing.It is really just that there are people who could really make out that kind of risks taking because we do know that earning something more than
x2 could really be that possible specially into those low ranking coins specially if its been pumped up by some whale then it would potentially giving out that kind of probability and this is where they would be
hoping for and this is where they would be trying to achieve it out.
This is why we do make out this kind of choice because, who doesnt really want to get that huge multiplier? This is where people who would be diving into such decision and really
just crossing out their fingers for it to hit the right spot.