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.
Greed makes some beginners fall in crypto investment, just because they want quick money and thinks that Bitcoin can not go more two times its value, and they believe that Altcoins will go more than 10 times its price if Bitcoin price pump again not knowing that Bitcoin is the king and will always remain the king. Investing in bitcoin have no risk as far as I am concerned because of the trust I have for Bitcoin, and I am taking this bear market as the right time to place my investment, because its a perfect time for me.