I have been telling my (online, because I don't know anyone in real life that even knows what bitcoin is) friends to get rid of their altcoins, because sooner or later there would be a massive bull run to bitcoin that would last months. They never believed in what I had to say. "Bitcoin maximalist" they would accuse me off.
Recently, they finally dumped their alts, which they were holding in hopes of a pump to make more bitcoin with, and simply held BTC. They have dodged the massive alt crash that has brought up BTC back above %50 of the crypto marketcap dominance.
Im not saying all altcoins are shit, but most are. It seems finally reality is kicking in amongst noobs that thought they could get easily rich with altcoins, and they are finally going back to BTC.
Recently, they finally dumped their alts, which they were holding in hopes of a pump to make more bitcoin with, and simply held BTC. They have dodged the massive alt crash that has brought up BTC back above %50 of the crypto marketcap dominance.
Im not saying all altcoins are shit, but most are. It seems finally reality is kicking in amongst noobs that thought they could get easily rich with altcoins, and they are finally going back to BTC.
Holding only Bitcoin is the most easiest way to make profit because of the price jump recently. But it's also stressful, because volatility is biiiiig. Now it's good to hold on, but remember what was just 2-3 months ago
It you have time and courage, to read and trade with alts, profits are bigger and the risk is smaller. However, you are right - there are a lot sh*tcoins around.