yes it is all correct but only if you are talking about a well established market with little to no manipulation and a solid demand from ream buyers and also most important of all: a good long term potential.
this simple definition limits you to bitcoin and even bitcoin doesn't fit all of the conditions since it is still a small market and is manipulated to some extent. when you talk generally and cover altcoins too then it means you are wrong. the altcoins are never good long term investments and you can do it and make profit too but you will be taking a huge risk and it will be more like a gamble instead of a trade.
Holding some altcoins for a long time is a risky investment since you don't know what will happen to the coins. Currently, we have thousand of coins in the market and many of them are considered dead abandoned by the team and it is just existing in the market for speculation purposes and this type of coins are often use by the pump and dump groups. The coins that I am wiling to hold for the long term are those that have been existing for a long time along with bitcoin. There is a potential that these coins would be valuable if the developers continue to develop it. this simple definition limits you to bitcoin and even bitcoin doesn't fit all of the conditions since it is still a small market and is manipulated to some extent. when you talk generally and cover altcoins too then it means you are wrong. the altcoins are never good long term investments and you can do it and make profit too but you will be taking a huge risk and it will be more like a gamble instead of a trade.
