What I am ultimately getting at here in the theme of my post is that there is no other coin besides Bitcoin, which you can trust can be held over the long term. What are your thoughts?
Investing in any coin comes with a risk including bitcoin itself but investing in altcoins especially for a long time is the risk itself. It's something that everyone who's into cryptocurrency knows unless who's just being introduced into the industry. I quite agree with your submission that altcoins take from people who they refer to as their own community. They make early investors rich while those who invest lately pay the price with their pump and dump norms. I can not condemn investing in altcoins if you can be cautious to make use of the opportunity but I would advise to invest in bitcoins for saver and long-term investment.
Until now we can see very good developments and currently many people want to invest in Bitcoin because they have seen that the results that can be obtained from investing in Bitcoin are very profitable, but they have to be able to hold it for a long period of time, there is no harm in it. we follow other people's advice in investing but we also have to have enough knowledge about Bitcoin so as not to follow the wrong advice in investing.
These set of people are being classified under FOMO category, they rush to invest in anything they see people making profits from without due diligence and if it turns out against them, they will tagged it scam. In as far as investing in bitcoin is much easier than one can think of, it's also necessary to know about what you are investing your in and take it security very serious. Personal research is very vital aside people's advice to avoid blaming others when you lose your money as it's possible. Always remember that it's risk you're taking with a probability of lose and profit.