Topic: Reasons why I prefer Bitcoin over any other assets and dips don't panic me.... - page 6. (Read 1621 times)

At this point the price dip is the last thing that is going to scare me in the cryptocurrency market, especially when it has to do with bitcoin. I was only used to be scared of the price dip when I was still a newbie and that was years back, when I had no clue at all whether the price of bitcoin is going to be recovering back above the highest price that it has reached at that point. Because, then nobody was sure whether it is going to keep moving up or if it will go down, although we did have the believe that it will keep on increasing in value.

But at this point, things have changed, because this is like 12 years now with Bitcoin still having a serious growth. and we are still looking forward to more of the growth and reaching a higher price that is more than what we have achieved so far.

In cryptocurrency, bitcoin investment is indeed the safest, and it is not surprising that bitcoin is the main choice for investing, the rest of the altcoins can provide greater profits, but the risk is greater. therefore the top 10 altcoin positions can be an option to invest safely, and it seems that other investors think so too

Okay so you believe all that are in top 10 on CMC are safe investment? They have doge at number #10 and how much safe you consider it and another centralised coin XRP at #8 who has managed to stay under $1 for long period of time and many other which does not have future guarantee that whether they will be in top 10 or not so how do you call them safe in regards to bitcoin who has given so much returns to the holders.

Wrong bitcoin is not safe due to huge demand but it is safe due to full nodes and the miners and it's complete decentralisation as the demand is totally another factor and those altcoins you are talking about have not much nodes and security could be compromised any time or the centralised wallets could take over the market to create dump like situation as most of them are low priced.So not much of security in them as well.

Fees is main concern for many but have you seen the gas at this time as they cost much more then bitcoin and sometimes memepool is empty of which you can take advantage of and pay less than usual but it's really not a big problem if you take it as an investment rather than making more transactions on daily basis.You can check out it here in detailed view in thread by LoyceV :

[Dec 2021] Mempool empty! Use this opportunity to Consolidate your small inputs!

Don't get bitcoin if you don't want but make some clarification on your basis as i also got it late and now btc is my best option mate.

But altcoins also has safer investment like those who are listed in top 10 currencies.

Bitcoin is the safest of course because of the Huge support and high demand but remember that altcoins also promise more support and benefits.

remember also that in Congestion we use altcoins instead of Bitcoin because of the High fees from the miners that cost us  a lot and make us turn at altcoins for a while.

The security wise and profit if we take it as store of value then there's no other better option than bitcoin in the long run and this is just an kickstart to major adoption of bitcoin and we are still surviving below $50k at this time and some think this was end of it but to the contrary this was accumulation phase and exchanges witness less withdrawal as more people prefer to hold the visionary one's and they will get profits for this at the end.

If you know bitcoin then you won't fear it in exact manner.

Compared with other altcoins, Bitcoin has more complete technical support and is a safer investment currency. And bitcoin has brought huge benefits to many holders, and in the long run, the increase in people's demand for it will also cause the price of Bitcoin to continue to rise.

You can't expect bitcoin to skyrocket so easily like we can't say when bull run will hit the market the prices will go upwards with huge momentum to $100k within short span of time but it will go there for sure and that's what is important in the end i mean to say.There could be some more dips after you assume it to be rising only so we need to take this thing in mind that it's best option for us and it's an asset which face volatility like any other but little high so we need not to be afraid of it and rather hold it for long term which will benefit us even more.

Just stay on the path and be patient so you can have profits on your investment and with global adoption and shortage in supply the price will automatically grow as 90% of supply has been minded and last 10% would take another century until 2140 for 21 million.So just enjoy your investment and try to accumulate as much you can for future safety.

Again, I'm not talking about trading, why do all you guys comments keep talking about trading when I said the opposite lol. And trading long term isn't restricted to whales. If you see a dip, you buy it, and you always can think of long term 5% gains if you're doing leverage, but again, that's simply not sensible for guys who have a life like me.

Buy dip. Hold. Sell at ATH, keep what you can. Easiest life ever.

For starters, especially a student back then, all I care was earning from this forum. I was not a total believer and that was my regret. Because I was here since 2017 and I lost my chance of the hype by not holding any of my hard earned and bought BTC. Apparently, learning more and seeing great improvements in worldwide acceptance what really triggered me to come back. I know its never late to have faith in something. And really I am very much excited for what crypto can do more in the future. Will not be a dumb panic seller anymore

We all starts on being a newbie which mistakes could really be that common and if you had trusted Bitcoin in the beginning on why you had invested on it then we wont really easily panic and could able to make steps according into your plans since you hadnt able to panic out and think off carefully.When making investment then
its a personal choice.Mistakes are inevitable but doesnt mean that you should tolerate it.

If you believe on Bitcoin that much then hold for long term but if not then you could opt out for another options you could take on.

I felt the same way when I started crypto. They say go earn bitcoin, its profitable. I panicked sell also, that's why at some point I understand why people do such nonsense (that includes myself) 
I believe that it is a part of being a beginner though. Eventually, they will gain more knowledge about it, hopefully.

This is one of the reason why people prefer more to hold Bitcoin, moreover when the price dips or in the bearish era, Bitcoin is the most crypto that will be bought always, in order to prepare for the next bullish. There is a good cycle on Bitcoin that after bearish, there will be bullish era. And Bitcoin will never lie, will not be dead coin as altcoins that may be dead coins (not all altcoins but mostly).

Right. We all know that bitcoin won't stay in dips forever, it will always recover and definitely goes up again especially if there will be positive news that will push it to move its price up. Unfortunately, others assets once they dropped their value, it will be hard again to recover their price. But with bitcoin, having its price decline is not even a threat for it since it gives another opportunity to accumulate more bitcoin. And once the correction is done, bitcoin will now start to skyrocket again and is expected again to reach a new peak price.

Good thinking I totally agree with that. Even though Bitcoin has fallen for some time, it can be seen that in the future Bitcoin actually bears skyrocketing. Like the parable of being low to skyrocket like that Bitcoin. While assets usually they will be difficult to rise again. Bitcoin itself is like the king of crypto, as the first coin with a fantastic price and its popularity now in the community, allowing Bitcoin to continue to skyrocket and become the investment choice of many people in the future.

investment is for long term, not only bitcoin, the other thing investment is really for future.
i admit if people come in crypto to make magic place, put money than in short time will pay back with big profit. but the main game is how strong you can hold your coin, because this game about investment.
and it will be different thing if you come to find a coin, take it, in a short time you sell for daily or your salary.

Tradinh long term has sense since we can look up what history says about it but unfortunately only whales can able to do this since they are the one who have flexible funds to use either the want it for long term and short term. But anyways whatever it is we can still say all option is good and this will matter according to the capabilities of the people.

Yeah of course there are people trading but I'm talking here about bitcoin investors, not trading. And the topic we're discussing is also about Bitcoin as an investment, compared to other assets. By nature already trading is short term (long term trading doesn't make sense for Bitcoin as you want to take advantage of high volatility).

People who get big into altcoins treat BTC the same way though, from what I can see. Same silly panic.

What utility they serve i don't know? If we say ETH is used for different projects and blockchain is widely being used for new projects like DeFi or the latest one's NFT then i understand to some extent but when the other shitcoins rise which don't have any utility or strong development to support them it's clear sign of pump and dump scheme and indicates whales are going to make huge profits for the same.

Like the latest Squid crypto was scammed of rug pull and the amount was calculated at approx $4 million around according to some reports but how the hell people invest in them? The answer to this is greed driven investment and zero research before it as they see it pumping just invest in the same and then loose.

Just hold btc and relax for long term and you will get profits as most of the altcoin holders are also not day trader and if you can risk holding them there it's better to be safe and have profits from bitcoin.

That's right, bitcoin is an excellent asset for the long term. although not a few people also trade bitcoin for the short term.
however, I'm sure most people will agree with you. bitcoin for the long term. that's what makes holders who believe in bitcoin will not panic easily.
very different for altcoin assets, even for assets from new projects that are still hot from hatching on exchanges. when there is a decline, many people will panic and immediately secure their money. all for the reason that a large new project is likely to have a greater risk.

Hate to say it but this is the truest fact for 99% of Bitcoin users. That it's a longterm investment. I know I talk about utility and advocacy and other stuff but for most mainstream people, the only thing they need to understand is that this is a longterm gig.

And by the way, long term means 5+ years, not 6 months as crypto investors seem to keep thinking the way I see them play with money lol