I have been in the market for awhile, and always hear the same mantra about trading to hold more Bitcoin and not Fiat. I bought into the same mentality for a long time, but I'm changing my tune. In almost every industry, first generation leaders are replaced by competition. From Sears, Kmart, Nokia, Motorola, Yahoo, MySpace, etc. Although Bitcoin is the current crypto reserve currency, I think that its dominance is threatened by ALT coins with faster, cheaper transactions and greater scalability. What do you think? Is it smart to hold Bitcoin as a long-term investment, or are there better choices among the ALT coins like Ethereum or Litecoin?
With a market that is constantly volatile and difficult to predict today, I think you should trade short term by day. Bitcoin prices are dropping sharply and my bitcoin prices will continue to fall further in coming days and may reach $ 7000. So if you intend to invest long term, then wait until that time to buy bitcoin.