Well, I bought some fractions of Bitcoin at the price of $30K, ETH at $2,100 but unfortunately they have been going downward since then. The bearish trend in the whole market is still prevailing, which greatly impacts on coin prices. Despite the bear market, Bitcoin is still holding on its ground with its price not fluctuating over the top. However, the altcoins are becoming more volatile than before and I begin to doubt whether investing in altcoins is a wise choice. Did you invest in altcoins ? What do you think of the current altcoin market ? Please let me know.
First of all you would know be in significant profit if you had hodled from the price that you bought in at. Bitcoin is the apex predator of finance, an absolute beast. Over time it increases in price, it is what it is. Most people don’t have the balls to hodl when it is down but those that do are rewarded. Secondly the altcoin market usually follows Bitcoin but with a lag. Overall just buy & have conviction, it might he tough at times but time in the market usually means nice profit (if the coin is legit & not a rugpull).
for altcoins themselves, I prefer to own ethereum, there are indeed a lot of competitors from ethereum, but not all of its competitors can outperform or even equal ethereum. until now it is still the number 2 crypto and very worth having in the long run.
I myself only have bitcoin and ethereum in my portfolio. but future plans will break down again to other altcoins that have good potential.
in this journey of cryptocurrency.