No matter how long you keep advising some of these people not to invest in shitcoins they will never listen till when they eventually fall victim of rug pull in projects that doesn't worth investing on. I keep wondering what usually motivate them to make such decisions. Why not invest in Bitcoin and relax, some want to get quick roi which is not a guarantee at the same time expose themselves to high probability of losing their capital invested in these shitcoins. Since I know Bitcoin investment, people who invested in it and hodl for long always win. If people always win in Bitcoin investment in the end why won't ever investors both new and old just stick to Bitcoin alone.
We also cannot force them not to invest in shitcoins because each person decides to choose their investment. If they are still comfortable investing in altcoins, they will continue to do so even though it will be difficult for them to choose the altcoin because there are many altcoins on the market.
Even if they become victims of scam projects, they will not stop investing in altcoins. They still see altcoins as a driver for profits. Well, that's fine if they can find the right project. But it's not easy to find the hidden gem.
And we better stay focused on investing in Bitcoin because we may not have it for much longer. So as long as we still have time, we must keep doing it.
For trading a trader can plan with other coins in the market apart from Bitcoin but for long term investment it makes no sense to plan with other coils of the market. If any coin is selected for investment it will be Bitcoin and no coin should be selected for investment other than Bitcoin.
Investing is already risky because the price of Bitcoin is changing regularly, while investing in a coin that can disappear from the market at any time, it cannot be a wrong decision for the investor. Other coins in the market are never suitable for long term investment. Other coins in the market change with the price of bitcoin, if the price of bitcoin increases more, then other coins in the market increase slightly, but if some dumping is seen in the market of bitcoin, then large dumping can be observed in other coins in the market. It can be seen that an investor invests in other coins in the market other than Bitcoin in a long term plan and after a long period sees that the price of Bitcoin has doubled but the value of that other coin is below its previous position. Don't invest in other coins in the market for testing either.
Since our plan is long-term, investing in a reliable coin will definitely be the best decision for us. Getting your wallet password right is just as important as investing.
We also cannot force them not to invest in shitcoins because each person decides to choose their investment. If they are still comfortable investing in altcoins, they will continue to do so even though it will be difficult for them to choose the altcoin because there are many altcoins on the market.
Investing in Bitcoin is risk free, but investing in other altcoins does involve risk. Shitcoins are hyped in the market and once dumped from that market, there is no chance of going back. But once invested in Bitcoin, there is a good chance that Bitcoin will go back to the previous market even after the market dumping.
Investing in Bitcoin is much less risky than investing in other coils of the market, but investing in Bitcoin is not risk free. You are investing your money and anything can happen to you here so it cannot be called absolutely risk free but we can say that the risk is much less compared to other coins. When investing in other coins, we have to worry that these coins may be lost at any time or its value may go down at any time, but when we invest in Bitcoin, we do not have to worry about this. Bitcoin is a very reliable investment platform and its value never fluctuates like the value of Sheetcoin is the specialty of investing in Bitcoin.