Post
Topic
Board Bitcoin Discussion
Re: The Possibility Of An Altcoin To Overcome Bitcoin Is Very Rare.
by
$weetne$$
on 09/11/2024, 07:56:11 UTC
Bitcoin dominance in the Crypto market is very influential for altcoins and greater control. Bitcoin which is the largest crypto asset by market capitalization can influence other coins to move in the same pattern, when Bitcoin goes up, other Altcoins tend to increase, when Bitcoin goes down, there is a possibility that other coins will go down at the same time. Another reason that makes it impossible for Altcoin to beat Bitcoin is because Bitcoin is the mother of all Cryptocurrencies.

Bitcoin is the first cryptocurrency and will continue to be gaining more trust because of the ways that most altcoins investment turn out, there are many altcoins scamming people and making people to lose money than those making people to make money. I have not been long in the industry but from the few altcoins that I have bought, I noticed I made very little profits from them but when I bought bitcoin. My profit was better than the altcoins. You are likely going to lose buying altcoins because everybody  that are buying too have the same mindset, they want to make quick profit and sell their coins therefore, there is nobody trying to hodl the altcoins for long as we have many people buying Bitcoin just to hodl it for very long time.