>> so many people prefer investing in shitcoins just because it offers higher growth potential than Bitcoin.
What they fail to understand is that , investing in altcoins carries a lot of risk and you need thorough research before making investments decisions, if you've taken the decision to invest in Altcoins then get ready for potential looses. I'll also advice you never use your all to invest!
Bitcoins advantages makes it a reliable store of value and medium of exchange.
The price of Bitcoin has really swept people off their feet, I mean imagine if maybe ten years ago you had a good amount of Bitcoin and you decide to hodl .
Imagine how you'd be now!
So the best thing is to use the DCA investment strategy in Bitcoin rather than investing in all this shitcoins.
Rather than tie it entirely to the shitcoins, I'll suggest we also look at it from the perspective of those investing in shitcoins.
More often than not, you find people investing in shitcoins with reasons of ROI, forgetting that there is a laid down understanding, high rewarding shitcoins have higher risks. The basic which is "invest only what you can afford to lose" seems to be alien to these small-scale investors.
Just because you heard about someone who made a fortune out of one shitcoin doesn't make it a trend, the person who made a lot of money out of a shitcoin has also lost from another shitcoin and he might be one of the lucky ones out of a hundred who does shitcoins. Because these pieces of information aren't general knowledge, people get to be misguided and act on ignorance and incur losses.