Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
Lida93
on 23/11/2023, 17:48:31 UTC
Mate, are you trying to say that we should also invest in altcoin? So that our eggs will not only be on Bitcoin investment. It is never good to invest in altcoin because you are not the dev of the altcoin, and if anything wrong happens at the back end you will not know. Investing in altcoin is just like someone playing gambling and you will lose your money if you are investing in altcoin because altcoin is a pump-and-dump token, that is after your money. As far as crypto is concerned, there is nothing like Bitcoin because you will not only make a profit from your Bitcoin investment, but Bitcoin gives you total control over your money, no third party will decide how you will use your Bitcoin, and you can also use your Bitcoin to send money to your family members staying abroad.
I understand your point relating to the risk factor of this altcoins but at a point I had to settle down and make close observation into this altcoins and I feel at some point they are worth investing into but extreme caution needs to be taken.
Just the way strategies are applied in accumulating Bitcoin that is how strategic you need to be when buying this altcoins, quote me
here  Not for a long term hold.

Altcoins are most a pump and dump coin, we know after making waves and all that it must surely dump and very difficult to see any altcoins bounce back so why can't I venture into the market at a very short period of time might be weeks and earn that profit when it's pump and before it's dump I sell.

Bitcoin is the ultimate and no other currency stands a chance but considering the fact that just with little investment in altcoins you can make profits from it within a short period of time and still add those profits into my Bitcoin portfolio.
Altcoins are risky? Yes. Bitcoin is risky? No. That is one difference between them considering the risk factor
This is one of the reasons why you should not invest your funds in altcoins because they are pump-and-dump coins that can not deliver what they promise to their investors. Most altcoins are a scam after taking investors' funds they will rug-pull the coin and run away with investors' money. With Bitcoin, you will not experience all these problems, and your investment in Bitcoin will be safe, all you need is to buy Bitcoin with a DCA strategy and Bitcoin always recovers its price.
The word investment doesn't apply literally to altcoins as they are not viable and reliable for long term plan. Altcoins are liken to gambling, so in my opinion it's better for anyone to use the money he's planning on investing in an altcoin to rather use it for actual gambling in a casino, in that case you are conscious that you are now gambling with your funds so it's a 50-50 chance of loss or profit if your lucky.

As the bullrun is getting closer we shouldn't be taken aback seeing some altcoins doing better all in disguise only to carpet flat after many would have innocent invested their money. I bet that many of the altcoins prices won't be rising along with bitcoin when the bullrun eventually kick start, they rather be doing the opposite. I rather be doing my little DCA holding strategy with bitcoin  with the little % from my monthly income while waiting for the bullrun, it better to partake in it with the little you can  than sitting on the fence.