Post
Topic
Board Beginners & Help
Re: As a newbie I stay off shitcoin and it paid off, Bitcoin is the king.
by
CryptopreneurBrainboss
on 20/11/2022, 16:24:38 UTC
while I went in on a single portfolio of Bitcoin and when the unexpected of FTX hack happen the whole market in shamble and his altcoin portfolio have dropped above %800+ but my bitcoin holding still maintains some level of stability.

Just to point the obvious out, FTX collapses wasn't caused by the hack that later happened to the exchange and I won't be surprised if that hack was organized to hide the true scam that Sam Bankman-Fried was into which was making used of customers funds for personal gains. I see news media blaming the collapse on the hack but that's not true and the community shoudnube misinformed. With or without the hack, FTX would had still gone down because their unethical practice was exposed and trust was been lost by their customers which triggered the massive withdrawal of funds foemt he exchange.

That been said, as a newbie, the best decision you can make for yourself is investing in Bitcoin and hoarding enough before the price get out of reach of affording a whole Bitcoin. Altcoins are never the best way to get introduced into the market. When you have the right information and experience then you can play with the side of the market but your main focus should always be accumulating as much Bitcoin as possible and you'll be safe.