As a beginner into the trading business, I'm always scared of putting my money into altcoins but I do hear some people talk about how they make profits altcoins.
yes altcoins can be a potential way to generating benefits to investors . because Altcoin prices fluctuate quite a lot so if an investor is able to invest in a potential altcoin then that altcoin can give him a huge profit. And can a person become super rich with an altcoin profit. But there are many risks in this case also. So be careful in everything
Finding that coin which could make you a lot of profit is the hardest thing ever. It is not impossible but it is quite difficult to do and that is causing all these problems. If we were any good at finding smaller cap projects and buy them before they go up, we wouldn't have this problem, we would be joyfully spending our investment profits.
However, as we can see from the situation it is clear that we are not doing anything that could be profitable because we keep on picking the wrong coins. That is why at the end of the we should not be expecting people to make a profit neither, we should be expecting them to lose each time they try.
at this time marketing situation is bad that's why New projects are coming to the market comparatively less. And the projects that are coming to the market are not doing very well either. And due to the deterioration of Bitcoin and some recent bad events like LUMA crash, FTX bankruptcy, all the altcoins in the market are in a very bad condition. So if one is planning to invest for long term then now will be the suitable time for him. If he invests now, he will get good quality profits as soon as the market improves
I am agreeing your words but I want to mention that Alt-coin is now high risky for investment whether it's for long-term or short-term. The market is in such a bad state right now that anything can happen, so I would advise you to refrain from investing in any kind of alt-coin right now. And currently, the new coins can't survive in this situation or they are scams, so if you have to hold or invest, I suggest you to suck bitcoin. However, it is better to use lazy funds to invest.
There are people who cant just sit down and would just letting the opportunity to slip away.We do have indeed lots of coins in the market and most of them are shit but we arent that blind that there are
ones which are really that having the potential or does have the chance for you to make profits and this is where diversification would start out.If you could bare up the risk then its not bad to have
considerations on putting or throwing up money into altcoin investment but you would really still need to make out some research and having those in depth considerations before making such step.
If there's no chance on making profits with altcoins then we wont be able to see those volumes that they do currently have specially with those in rankings.