Almost everyone in the cryptocurrency market knows the power of Bitcoin. We all believe bitcoin including bitcoiners and altcoiners. It seems that we all know that bitcoin is the best and will likely not be overtaken by the altcoins. But I perceived a few reasons people still invest heavily in Altcoinstalks.
- They believe that altcoins can easily make X10 which bitcoin will not make
- They believe there is an altcoins season coming.
During the last bull run, people were talking about this bull run seriously to be an alt season. It is this projection of an altcoins season that is keeping people in the track and they kept believing the alt season is coming.
I guess and believe even if there is no altcoin season, the market cycle is changed, there will still be many people, organizations or companies investing in some altcoins, they will not only focus on bitcoin. Simply because whether we accept this fact or not, many altcoins are still developing seriously and bringing real use cases and applications to the financial industry. That means investing and holding them for a long time can also be profitable.
I agree with you that in terms of utility, there are some coins that beat BTC, but when it comes to being a profitable asset, no one is close to BTC
It's no coincidence that ETH ETFs are being approved alongside bitcoin and funds like Blackrock are pouring money into ETH just like they did into bitcoin. Or it would be no coincidence that many altcoins are being proposed for ETFs and could be approved by the end of this year.
In as much as people are interested to invest in a particular coin for a long term, ETF will give them platform to do that.
If you believe Bitcoin can increase in price 10x and hit $1 million, then there is nothing stopping ETH from increasing in price 10x or more in the future.
Why haven't Ethereum hit a new ATH since 2021, but BTC has done so several times.
We always recommend long term investment but just because altcoins are not increasing this season, and we are in a hurry to say they will never increase and reach new ATH. Are we investing long term or speculating?
When you look at altcoins individually, they are doing well. But when you compare them to BTC, they aren't doing well.