Quote from: AmoreJaz on June 21, 2024, 11:37:26 PM

Quote from: Smack That Ace on June 21, 2024, 03:23:44 PM

Quote from: Cryptohygenic on June 19, 2024, 01:03:04 PM

As a beginner to this bitcoin market,

Do you know why most people give long-term investment advice to others, especially newbies like you? That's because long-term investing only requires basic knowledge, without too much pressure, less risk, and more guaranteed profits. Meanwhile, short-term investing requires more knowledge, more pressure, and you take more risks. As a newbie, do you think you have enough knowledge and experience about this market? If you are confident about yourself, you can try with the strategy of your choice because it is your money.

Additionally, newbies often ignore other people's advice and just follow what they think is right. So for newbies, I think it's best to let them experience the market for themselves, the market will teach them what is the best method of making money in the market.

Long-term investment may be true for bitcoin, but if they start exploring the alts market, they should do their homework of learning this market because most of them can be short-lived. This is also the reason why, newbies are being advised to learn the bitcoin market first, because we can say, btc won't disappear overnight. Unlike with alts, they have the tendency to exit the market without prior warning.

There are several factors that you need to consider before jumping in any alt market -
> actual developments of the project
> sincerity of the dev team to accomplish their objectives, how they are implementing their milestones
> communication with their stakeholders, followers, subscribers
> significance of their services, without solid use case - hard to sustain their presence in this market

I also invest in altcoins, but in my opinion, newbies invest in altcoins, it only shows that they want to gamble and not invest, so giving advice is useless.
Altcoins are speculation, or to put it bluntly, investing in altcoins is gambling and there are no rules or formulas by which we can guarantee that they can last until we make a profit.

Your advice is quite useful for those who want to invest in altcoins. But we need to remember that even if an altcoin has all those elements, there is no guarantee that it won't die before we reap the profits. Luna's lesson is still there, it entered the top 10 altcoins but collapsed and wiped out more than 60 billion in capitalization in just 2 weeks.