The reason is simple, they think bitcoin is too expensive and may not give them the huge profits they desire since they only plan on short term investment so they prefer those shitcoins with the mindset that they can afford as many of it as they can and still make huge profits within a shorter time frame but in the end they still find out those are scam shitcoins. So unfortunate that most people are after get quick rich coins even when they are aware that those coins are very risky and cannot stand for long. Another stupid mentality they have is that when they see a coin pumping, they assume it's gonna continue pumping without knowing that it could be a trap for them to lose their money after investing.
Yes, that's the way of people with minimal knowledge about Bitcoin, they think all coins are the same, why buy expensive ones, many cheap coins are affordable. It could be that they are just fixated on or believe in influencers and trends that are being talked about by many people on certain coins and can reap big profits, it could be that these people get carried away with the fomo and buy these rubbish coins, with the illusion in their minds that having more coins gives them the potential for bigger profits.
It's best to throw away illusions like this, wanting to get rich in a short time, if your knowledge is still very minimal, even experienced people won't necessarily have the courage to buy these rubbish coins which have no fundamentals at all.
It's best to invest your money in coins that have lasted a long time and have good fundamentals, such as Bitcoin, so that your money isn't wasted.
I think it's never too late to buy bitcoin, the current price for most people is quite expensive but not for me. By buying it regularly, of course we will get the average price of our investment and we will enjoy the results in the next 5 or 10 years. Not only that, Bitcoin can be an inheritance for your beloved children.
It sounds like you might be considering that other coins might be good based on their "lasting a long time" criteria.. .which can be misleading. Probably it is better to suggest to study bitcoin first, and to be skeptical about all projects.. even if they have existed long.
It is too late to make 100X, I do believe this, but it is never ever too late to reduce your risk of inflation with normal currency, and increase your chances of making so much more value by saving in BTC.
Well it seems that BTC is around 1,000x or greater value than gold, yet bitcoin's market cap is ONLY around 1/9th the size of gold. Gold could come down too.
another thing is that the total addressable market of bitcoin is around 1 Quadrillion, yet bitcoin only has a market cap of around $2 trillion... so there is a possible 500x, even without considering that total addressable market could go to higher numbers.
Sure, it could take 50 to 200 years for bitcoin to reach a kind of "full potential" and to become mature, yet there are still possibilities of shorter term upward moves... but yeah, 100x would be quite a bit, so we may well not be able to count on 100x in the short term.. not that we could have had (or should have had) counted on 100x... .. yet from here 100x is merely $10 million per coin, and I recall that Hal Finney had argued in 2009 or 2010 that bitcoin's addressable market could bring it to $10 milllion per coin... so 100x seems to have potential.
Don't get me wrong. I had never gotten into bitcoin with high expectations of guaranteed returns, yet my beginning years in bitcoin, I had hoped that my bitcoin investment would average around 6% per year price appreciation, and largely my investment into bitcoin had ended up providing somewhere in the ballpark of 65% per year price appreciation, and that is way better than I had expected.
I have my own charts that project out bitcoin's 200-WMA, which I consider to be a much better way of measuring bitcoin's valuation in order to not get caught up on the volatility of spot price, since the 200-WMA measures the bottom price, and my current projections of the 200-WMA shows the 200-WMA crossing over $10 million in around 2067, which is ONLY around 42 years from now. .and yeah I consider my 200-WMA projection to be fairly conservative. I do have
an earlier and more conservative version showing the 200-WMA crossing over $10 million in 2073... but yeah, that is nearly 50 years from now.. but still considered a bottom price which would suggest that the spot price is likely tending to be higher than that.