I first got into crypto in February this year however did not start investing in Bitcoin until June after the crash as I felt it was too expensive until then.
I have been DCA now since June and my average buy is £17,100 and I have 6% of a Bitcoin which I know is not much but I have been taking it slow and feel it is slowly growing whilst buying at these lower prices.
I watched a clip on Youtube earlier saying how Bitcoin is great however it is limited in terms of profit potential and it got me thinking if I should keep DCA into Bitcoin or sell it all and put into Altcoins that are likely to return much more over the next 2-3 years.
I mean how high can Bitcoin realistically go in the next 2-3 years? £150k maybe which would be less then 10x compared to other altcoins that can 20-50x when the bull run returns.
Just wondering if everyone invests in Bitcoin or is it worth just focusing on strong altcoins that can 20-50x in the next few years?
I know I have got into Bitcoin at a good price but just feel while altcoins are currently 85-95% down from all time high may be better making the most of that rather then being safe with Bitcoin and not seeing much return.
Not all altcoins are going to give you a 20-50x return. You need to find a good altcoin that has potential and they are very rare to find. You will most likely end up investing in a "bad" altcoin and lose everything.
Investing in Bitcoin is less riskier when compared to altcoins. Sure, bitcoin might not give you more returns than some altcoins, but look at the charts. When the market tanks, the altcoin performs the worst. Go back few days and see what happened. When bitcoin went down by 5%, altcoin went down up to 15%!