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.
When it comes to Bitcoin vs altcoins, there are a few things to consider. First, let's start with the basics: what are Bitcoin and altcoins?
Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. Altcoins are cryptocurrencies that are based on the Bitcoin protocol but have additional features or algorithms that differentiate them from Bitcoin.
So, what are the benefits of using Bitcoin over altcoins? Well, for one thing, Bitcoin is more widely accepted than most altcoins. In addition, because Bitcoin is the first and most well-known cryptocurrency, it has greater liquidity - meaning that you can buy and sell it more easily than other coins.