I know right, it sounds just so lame and hypocritical. For someone who talks quite a lot on altcoins and do not even hold any BTC, how is it that I am bullish on Bitcoin. Hold your horses all! Let me explain what I actually mean. And before I begin, I have never said that I am someone who is against Bitcoin. In fact I have said that I am very confident on the future of Bitcoin and Bitcoin has always been very important in the crypto market. You can read my old posts here and here. The simple reason why I did not get into investing in BTC is because when I first started investing in cryptos, I got burnt badly. Yes there are plenty of market manipulators and I get burnt in the process. Pretty common when doing investing, especially in a volatile market but when it comes to first time investors like me, it kind of left a mark. So whenever I see the ticker symbol BTC, I feel a slight sense of dread. And thus I never got back into buying BTC since then.
However with that said, if you are looking at investing on something which is slightly less volatile in the crypto markets, I think that BTC is a good bet. Just look at the increased adoptions by big financial institutions – some of whom are coming in big and strong. Take a look at these articles – here and here. With that kind of financial muscle and cloud, surely the prices of Bitcoin will go up and most importantly stay there. Those financial institutions will never let their own portfolio go down too much, especially in the long run. So yes I am confident that Bitcoin is at least going to be one of the top performing assets you can have if you don’t like the volatility of altcoins. Of course if you are looking just for gains, altcoins will probably be better in some cases. Just remember to take your profits once in a while. And remember that most altcoins are way more volatile than Bitcoin. Perhaps take a quick look at the recent pump by SHIBA and how far it managed to pump. And we are talking about a meme coin with nothing much to back up the fundamentals.
As to whether I will be going into getting some BTC myself – I am two minds when it comes to this. The thought of getting burnt again is just always there. But as I look more into Bitcoin, the more I feel that this is the correct coin to put my bets on. Anyway I will most likely be getting a small amount into my portfolio this time round. However most of my portfolio will still be altcoins. Let me know what your thoughts are on BTC.
By the way I am not a financial advisor. You should always do your own research when it comes to investing, especially when it comes to the crypto market. To say that the crypto market is volatile and at times full of crazy people is an understatement. And beware of market manipulators.