Celsius(CEL), Terra(LUNA) And more recently, FTX(FTT) Crash, What Lesson Are We Being Taught?
Despite your given valid reason which I highly agree with, I still won't recommend people to not look at the altcoin market. There are lots of potential profits to be made in the altcoin market. It would be a waste if we don't take advantage of these opportunities. Bitcoin's very high-profit return had been all in the past now, the x30 x50 x100 profit will be rarely seen in the Bitcoin industry which is often available in the altcoin market. So the lesson these crashes of altcoin convey is that we should exit at a profit and not take the Altcoins market for long-term investment. Plus avoid keeping our cryptocurrency in centralized exchanges.
Agree that Bitcoin is much safer from anything bad that might happen, even without adequate knowledge will still be detrimental to the person so we have to know how the cycling market works every year so that Bitcoin can be really useful for us.
True, the Bitcoin market is the most established market among cryptocurrencies but we still need to learn the curves of the Bitcoin market movement. It is very important especially if we are engaging Bitcoin to take profit from its market.