I am not an altcoin fan but lately, I have spent some time on the alternative cryptocurrency board and I have seen a lot of topics bordering around whether or not to buy some coins and this makes me wonder why altcoins investors are full of uncertainty and always wanting to know the opinion of others before they invest.
Is there any other reason for this other that the high risk and high volatility of altcoins compared to bitcoin?
Are they asking because they know there are special skills in altcoin analyses or some people are good at picking g g the right coin to invest in?
There could be several reasons why altcoin investors are often uncertain and seeking the opinions of others before investing
High risk and volatility of altcoins
Altcoins are newer and lack established market
Sheer number of options makes evaluation difficult
Some investors lack knowledge/expertise
Seeking advice from experts can mitigate risk.
Unlike Bitcoin, which has a long track record and a relatively stable market, many altcoins are newer and have yet to establish themselves in the market.