After I started my Bitcoin holding journey a few months ago,
At that time, my close friend Sam! also have some capital he want to put away in cryptocurrency, and I advised him to buy Bitcoin instead of an altcoin. But instead of him to have a long-term potential mentality, he was looking for a quick profit so he filled up his portfolio with shitcoin, 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.
I don't even know why people still buy shitcoin, i don't know why I will buy a coin that I won't have rest of mind, I believe people that do invest in shitcoins are not trading but they are just gambling, you have 50/50 chances, is either you lose your money or you win, and most shitcoins are going to die in this current bear market, people that do investment in shitcoins are also going to lose their money.
This gives me more confidence in Bitcoin and newbie who are looking for long-term holding should hold more bitcoin, in their private wallet to avoid exchange, but your knowledge to always have a good entry price.
I don't recommend people to invest in bitcoin for short term, if you really want to make money from bitcoin, then you should invest for long term. Also you shouldn't keep your bitcoin in exchange, make sure you withdraw it to your non custodial wallet and secure your private key. I noticed most newbies always keep their coin in exchange which is very wrong.