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    Bitcoin or Altcoins?

    The old-fashioned question, bitcoin or altcoins? This is a question where you will get different answers depending on which person you ask. There are many variables that come into play to decide which option is best for you. Things to consider are what are your goals, the fundamentals of the coins, how long will you be in the market, your risk tolerance, what will happen in the future, are you trying to maximize profits, unit price variances, are you a trader? And the list goes on and on. But who do I think is the best? Let's take a closer look at that.  

    I also want you to know that I'm considering anything outside of bitcoin altcoins and ethereum.  

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    As bitcoin becomes more and more expensive; it has made people feel that they have already missed their chance with it. And so they start looking elsewhere. Recently, there has been a strong drift in the price unit against bitcoin. The average person, when investing in cryptocurrency, doesn't lose thousands of dollars or more, but often only invests their spare cash. For simplicity's sake, let's say they are able to invest $ 100 at different times. If you were to put that $ 100 into bitcoins, it would equal about 0.002 BTC. But if you put the same amount in Dogecoin, you would be able to buy about 400 coins. While that's not a problem for me because I understand how valuable and intimidating bitcoin is. But for the average person; the ability to buy 400 coins compared to 0.002 of a coin seems more appealing.

    Another important factor to keep in mind is the bases of the coins. Whether you are a fan of bitcoin or not, there is no denying the importance it has had and still has in this market. After all, it was arguably the first cryptocurrency that started this whole movement. The history of bitcoin's creation is also important to consider. It's almost impossible for a coin to be released any time after bitcoin has the natural path to become an asset that has value and also equal distribution. Now we often see stories about altcoins with pre-sales, pre-mines, insider sales, distribution to the development team, etc. It wasn't like that with bitcoins. Once the network and mining got involved, it was a free for all. Think of all the ICOs that only got funding for an idea before the coin was developed or something. Bitcoin was released with no value and naturally became valuable. At the time, cryptocurrency wasn't a thing and people weren't looking for the next up and coming coin to make big profits like they are today. Instead, people thought it was a cool idea and could be a great way to potentially get out of the government system in the future. And so people started collecting and trading it. It became a value, and the rest is history. Another important thing to keep in mind is bitcoin's decentralized security. Right now there is no other chain that even comes close. It is the most trusted for a reason, and when it comes to finance; especially in cryptocurrency. Trust is everything. i'm not looking for the next up and coming coin to make big profits like they are today. Instead, people thought it was a cool idea and could be a great way to potentially get out of the government system in the future. And so people started collecting and trading it. It became a value, and the rest is history. Another important thing to keep in mind is bitcoin's decentralized security. Right now there is no other chain that even comes close. It is the most trusted for a reason, and when it comes to finance; especially in cryptocurrency. Trust is everything. i'm not looking for the next up and coming coin to make big profits like they are today. Instead, people thought it was a cool idea and could be a great way to potentially get out of the government system in the future. And so people started collecting and trading it. It became a value, and the rest is history. Another important thing to keep in mind is bitcoin's decentralized security. Right now there is no other chain that even comes close. It is the most trusted for a reason, and when it comes to finance; especially in cryptocurrency. Trust is everything. It has become a value and the rest is history. Another important thing to keep in mind is bitcoin's decentralized security. There is currently no other chain that even comes close. It is the most trusted for a reason, and when it comes to finance; especially in cryptocurrency. Trust is everything. It has become a value and the rest is history. Another important thing to keep in mind is bitcoin's decentralized security. There is currently no other chain that even comes close. It is the most trusted for a reason, and when it comes to finance; especially in cryptocurrency. Trust is everything.

    Let's move on to talk about profits. Bitcoin has already risen to a market cap of nearly $1 trillion, and that means it requires a lot more cash flow to keep the price moving up. On the other hand, the market caps of altcoins are much smaller and this makes them much more volatile. This means that they will move up at a higher rate than bitcoin, but they will also move down at a higher rate. Here you have to ask yourself what is your goal in the market? A key thing to keep in mind is that both bitcoin and altcoins appreciate much more than traditional investments like stocks or bonds. While many people in the cryptocurrency market think that the price movement of bitcoins is slow and boring, it is important to remember that it is still appreciating at an insane level. If you look at the short history of the cryptocurrency market and assume that it repeats itself in the near future, it becomes obvious that investing in altcoins can be extremely risky. During the last bull there were many altcoins where its price dropped by 99%. And many of these coins have yet to recover to their previous highs. Some have though. During the same time bitcoin also dropped, but it was around 80%, but the important thing to note is that it also recovered much faster. Like it or not, most of the industry is still tied to bitcoin. When bitcoin goes up, so do altcoins. And when it falls, so do altcoins. But when bitcoin does move, it also absorbs the altcoins like a black hole. So if you want to maximize your profits by investing in altcoins, it really becomes a game of timing. I believe bitcoin is the "asset" in cryptocurrency and should be what you aspire to own. The savings of your portfolio. I've said this many times, but I believe this will ultimately be a game of people who have bitcoins and those who don't. Many people's strategy is to use altcoins to accumulate more bitcoins. This is a good strategy as long as you have the right timing, which I discussed above. 

    Basically, it means you need to know when to convert or sell your altcoins into bitcoins. Always use your altcoins to accumulate more bitcoins. You would never see me hold on to Shina Inu or any other alternative coin for a long time. In terms of value compared to a bitcoin, it will tend towards zero.

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    In the past I invested a lot in altcoins and fortunately I did very well. I managed to put all those profits into bitcoins, but something I always remember is the stress I had. Investing in cryptocurrency is quite a risky venture. We all hope this journey will take us to the moon and have financial freedom, but it can also take us to zero. I was very stressed about finding the right altcoin and finding the right time to sell it. I don't have those same worries when investing in bitcoins. So you have to ask yourself what your risk tolerance is. If you really have a high tolerance, you could do very well investing in altcoins. As for me, I usually have bad timing and also bad luck and that would lead to some sleepless nights.

    I think the main reason people invest in altcoins instead of bitcoins is that they are trying to get rich quick. Just like we saw with Solana this year, it is possible to hit the jackpot and find a coin that makes 100 times the price. People are hoping to change their lives forever. While many of these people think they're investing, it's actually gambling. While Solana is a solid project, a lot of altcoins are not. People only invest because they think the price will go up. On the other hand, I believe strongly in the fundamentals of bitcoin and that's why I invest in it. Believing also that because of those fundamentals the price will continue to rise. I have full confidence that the price of bitcoin will rise to over $1 million per coin after the next holding. Those who invest heavily today can still become very rich from this. It will just take a little longer than if you hit the altcoin lottery. I'm looking to build a fantastic portfolio foundation to build on for years and decades to come. Something that will continue to appreciate in value, and something I can rely on. For me, bitcoin is that, and altcoins are not.

    What about you? Do you prefer bitcoin or altcoins and why?

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    As always, thanks for reading!

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    SourceJohnWege
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