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.
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.
Avoiding shitcoins and altcoins is just too risky to take, so before investing, think carefully about where you are investing. What happened with FTX should serve as a lesson to many of us, but most people have not learned from the warnings that have been made over the years about avoiding shitcoins. Most people feel convinced while seeing the hype in some projects that after hype stories start going around about the team being nowhere to be found.