Post
Topic
Board Beginners & Help
Re: How much money can you make by investing in Bitcoin?
by
HONDACD125
on 28/10/2023, 14:39:45 UTC
Where the risks of loss are considered to be the lowest.No doubt some coins crashed but that doesn't mean all coins are worthless.

You are right. Coins can crash, and not all coins are worthless. But how will you differentiate the once that can crash and be worthless from the once that, after crashing, will still be able to bounce back, since even coins that we consider strong once are crashing and they are not bouncing back? If you are taking a risk, it’s better if it’s always minimal, the higher the risk that you are taking, the higher the chances of you losing money.

The only coin that I know that won’t disappoint anyone is bitcoin, and that’s why I do encourage people to go for bitcoin. I feel pained whenever I see people losing money in altcoins, and some people go to the extent of investing in meme coins that are completely useless, some of them are newbies that are being misled.
I think we can differentiate that if Bitcoin is crashing, all coins are crashing with it.This is normal because Bitcoin is leading the entire crypto currency market. Sometimes the price of Bitcoin remains stable, but the bad news of a coin causes a crash for Bitcoin as well. Just like when Luna and FTT Coin crashed, the market went down.

Now in Luna and FTT till now we haven't seen any bounce back, rather they have died down. Sometimes in a Bitcoin crash, many coins crash quite a bit, but they are never meant to be destroyed. For example, Solana was down to $8, Ocean Protocol was down to $0.11, Matic  was down to $0.32, and Mina was down to $0.36,but after that these coins provided 3x to 4x profit to their investors. Sometimes our choice can be wrong due to which many people get hurt. I'm against meme coins myself because there's a lot of risk involved, but we can't blame all altcoins if one or two coins in altcoins crash.