Post
Topic
Board Altcoin Discussion
Re: Mainstream coins or altcoins?
by
Silberman
on 25/09/2023, 05:38:00 UTC
Choosing the best coin like Bitcoin is preferred if you are a long-term holder. But if you are aiming for the short term, we can take the opportunity to make a profit from the price fluctuations and hype that these meme coins do. It is important to know and get familiar with the market situation as it corresponds to opportunity as well. That is why I don't just accumulate BTC alone as I also buy a few altcoins because, in this way, I could generate more profit. But I would say that it all depends on our risk appetite, some can't take more so they will just focus on BTC alone.
It's important to know all the risk behind, not just the intention to earn but more on how you can maximize the full potential of the asset that you will going to acquire, if you are also capable to explore with short-term investment aside from BTC and those solid projects that you study, there are also meme projects which can provide in a short investment process, though the outcome can be quicker but there's always a big risk in it.
And that is a problem, no one can really know the full extent of the risks they are taking, and because of that people should try to be more conservative with their strategies, as a coin they thought could be a great investment can all of the sudden turn into a scam and drop to zero without any warning sign that could have allowed you to steer away from that coin, but often this train of thought is ignored and we see the consequences of doing so almost every day on the forum.