Topic: Why buy bitcoins and not altcoins？ - page 3. (Read 529 times)
Honestly I have more alts holding than btc I only have very little amount of btc in my wallet because of its really high value I think its better to speculate more in promising alts like ADA, DOT,ETH than to buy bitcoin now but in the long term I strongly trust in btc its more safer than holding alts but taking risk is not bad at all.
Then I use my experience to answer your question.
I have known Bitcoin for three years. I started holding Bitcoin at 30K USDT and was still buying it until 70K. My average cost is 55K.
If I have been holding it until now, the maximum return should be 10 times. But I haven't held it until now. I replaced part of it with altcoins, and altcoin has never risen back after falling.
No matter how much Bitcoin falls, it will rise back over time. Altcoins are very likely to return to zero. Of course, there are also more increases than Bitcoin, and within a short period of time. The question is, can you buy 1 out of tens of thousands?On the contrary, Bitcoin is 100%.
I have known Bitcoin for three years. I started holding Bitcoin at 30K USDT and was still buying it until 70K. My average cost is 55K.
If I have been holding it until now, the maximum return should be 10 times. But I haven't held it until now. I replaced part of it with altcoins, and altcoin has never risen back after falling.
No matter how much Bitcoin falls, it will rise back over time. Altcoins are very likely to return to zero. Of course, there are also more increases than Bitcoin, and within a short period of time. The question is, can you buy 1 out of tens of thousands?On the contrary, Bitcoin is 100%.
Second reason: someone has $100-500 capital, if they want to buy Bitcoin, not now, in 2010 it might be suitable, for that Altcoin is one of the solutions expecting miracles, for example: BTT, Doge at that time.
Led by this common misconception, first time I entered crypto world I bought altcoins instead of bitcoin. So, back in the late 2013 I decided to spend several hundreds of $ on crypto, and since I couldn't afford one whole BTC and thinking it's way too expensive, I bought bunch of shitcoins which of course proved to be a major mistake. Point is, no matter how much money you have, if you are newbie, you should 100% of the time stick to BTC as all you have to do is hodl and nothing else, while in order to profit from alts you really have to know some stuff, and even then you have to have shit load of luck not to not end up with having less than you would of you just bought BTC.
@OP Wanna sleep better, be more relaxed and still outperform alts in the long run? Get BTC, as simple as that.
MarketCap
Bitcoin accounts today for 48.4% of the total cryptocurrency market capitalization.
This means that investors all around the globe consider that all altcoins combined are worth nearly the same as bitcoin.
https://coinmarketcap.com/charts/
Bitcoin accounts today for 48.4% of the total cryptocurrency market capitalization.
This means that investors all around the globe consider that all altcoins combined are worth nearly the same as bitcoin.
https://coinmarketcap.com/charts/
It is also worth nothing that while the ratio of Bitcoin vs altcoin market cap is currently roughly the same as late 2017/2018 there's currently more than 7 times as many cryptocurrencies listed than just 4 years ago (11,156 as of today vs 1,514 in December 2017 [1]). This means on average alts performed only 1/7th as well as Bitcoin.
[1] https://web.archive.org/web/20171204031615/https://coinmarketcap.com/
But is there a kind of data to support this? Please don’t just experience it----every time Bitcoin falls, there will be a new ATH to explain.
Not all are interested in Bitcoin, some are interested in Altcoins.Everyone knows the price of Bitcoin is expensive, if someone has a lot of capital, maybe they are very interested in Bitcoin, maybe not interested in Altcoins.
There are two modes that can be interpreted in the meaning of your topic title.
1. High capital.
2. Low capital.
In this situation, for example:
Reason one: someone has capital say 2 Bitcoins, in one week they can make a profit of $ 8k to $ 10k, This kind of person is not tempted by Altcoins.
Second reason: someone has $100-500 capital, if they want to buy Bitcoin, not now, in 2010 it might be suitable, for that Altcoin is one of the solutions expecting miracles, for example: BTT, Doge at that time.
Conclusion: it depends on the capital they have, to decide to trade and invest in Bitcoin or Altcoin.
But is there a kind of data to support this? Please don’t just experience it----every time Bitcoin falls, there will be a new ATH to explain.
I can show you some data.
MarketCap
Bitcoin accounts today for 48.4% of the total cryptocurrency market capitalization.
This means that investors all around the globe consider that all altcoins combined are worth nearly the same as bitcoin.
https://coinmarketcap.com/charts/
Oldest and most tested cryptocurrency
Bitcoin is the oldest and most tested cryptocurrency out there. BTC is around since 2009, and etheruem only since 2016 (half bitcoin age)
Price correlation
All altcoins have a strong correlation with bitcoin price. If bitcoin price goes down, it is almost certain that all other altcoins will go down as well (usually more than bitcoin). When bitcoin goes up, some altcoisn goes up as well (some don't), with extra volatility.
So you are not really diversifying when buying altcoins, you are just adding more volatility.
Look, they all have the same chart.
https://blog.liquid.com/what-is-market-cap-in-cryptocurrency
There's more than 10 thousand alts and tokens in the market but only one Bitcoin. Sure, you might pick the outperforming unicorn but the odds are not in your favour. For every coin that performs well there's literally thousands that never fully recover after the bull market ends and there's a lot of survivorship bias. The top 10 now look very different from the top 10 during the bull run before or even the years prior to that. Just check the charts.
Wouldn't be a bad idea to start investing in alts alongside, but Bitcoin is the best bet for newbies. And when I say newbies, I mean those who've been in the space for only a few years.
As mk4 said, most people get to invest in another alt based on what their subreddits or Telegram channels say. If the subs are highly FOMO'ed, they're going to invest forgetting (or ignoring) the fact that these subs are shilled by members and hodlers of the coin itself, their motive being quite obvious.
Altcoin investing requires lots of research. And contrary to what most users believe, "research" doesn't mean surfing Reddit and Telegram channels to find out what the majority says. It's very weird to me how the average Joe would rather put their life savings in a highly shilled shitcoin than investing in what always proves to work over the long term, such as Bitcoin.
As mk4 said, most people get to invest in another alt based on what their subreddits or Telegram channels say. If the subs are highly FOMO'ed, they're going to invest forgetting (or ignoring) the fact that these subs are shilled by members and hodlers of the coin itself, their motive being quite obvious.
Altcoin investing requires lots of research. And contrary to what most users believe, "research" doesn't mean surfing Reddit and Telegram channels to find out what the majority says. It's very weird to me how the average Joe would rather put their life savings in a highly shilled shitcoin than investing in what always proves to work over the long term, such as Bitcoin.
I really don't understand what you're trying to say in this part 👇 so I'm just going to answer your topic title.
So, why bitcoin and not alts? Simply because bitcoin is the "safest" asset to invest in in the cryptocurrency space, simply because not everyone has the knowledge and patience to properly pick out which altcoins could perform really well in the short/mid/long term. All a lot of people do is just check out which coins/tokens gets shilled out on Reddit and social media and invest in that coin/token despite having no idea on how the project works. Ending up with them being burned in the end.
Just check out the altcoin/bitcoin trading pairs on most coins. Most of them(like a huge majority) has lost a lot of value against bitcoin in the long term.
But is there a kind of data to support this? Please don’t just experience it----every time Bitcoin falls, there will be a new ATH to explain.
So, why bitcoin and not alts? Simply because bitcoin is the "safest" asset to invest in in the cryptocurrency space, simply because not everyone has the knowledge and patience to properly pick out which altcoins could perform really well in the short/mid/long term. All a lot of people do is just check out which coins/tokens gets shilled out on Reddit and social media and invest in that coin/token despite having no idea on how the project works. Ending up with them being burned in the end.
Just check out the altcoin/bitcoin trading pairs on most coins. Most of them(like a huge majority) has lost a lot of value against bitcoin in the long term.
I have seen a lot of opinions about not buying altcoins and always holding bitcoins before registering.
But is there a kind of data to support this? Please don’t just experience it----every time Bitcoin falls, there will be a new ATH to explain.
But is there a kind of data to support this? Please don’t just experience it----every time Bitcoin falls, there will be a new ATH to explain.
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