>> 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.
Well, I made a very terrible mistake of recent, though not really of recent since it's already like half a year or so, i took a loan from one of the users on this, a loan of around $1500, invested the money in an Altcoin I had really high hopes on believing that altseason was coming since bitcoin was already above $70,000 at the time, I thought we were about to go into another mega bull run, but unfortunately, I thought wrong.
Long story short is that, I invested that money when the price of the Altcoin was $0.24, but currently as I type this comment, the price of that same Altcoin is now around $0.032, my $1,500 is down to almost nothing, currently around $200, this by far is the worst investment experience I've had, and right now, I have to struggle and pay off the loan money plus the interest.
Telling this maybe someone will learn from it, I should create a thread on this actually, this i will do later..
I really wished I had invested that money on bitcoin, even though the price of bitcoin have also dropped, I wouldnt have lost this much still.