Why buy bitcoins and not altcoins？

[The Ghoul]

I have seen a lot of opinions about not buying altcoins and always holding bitcoins before registering.

But is there a kind of data to support this? Please don’t just experience it----every time Bitcoin falls, there will be a new ATH to explain.

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[mk4]

I really don't understand what you're trying to say in this part 👇 so I'm just going to answer your topic title.

But is there a kind of data to support this? Please don’t just experience it----every time Bitcoin falls, there will be a new ATH to explain.

So, why bitcoin and not alts? Simply because bitcoin is the "safest" asset to invest in in the cryptocurrency space, simply because not everyone has the knowledge and patience to properly pick out which altcoins could perform really well in the short/mid/long term. All a lot of people do is just check out which coins/tokens gets shilled out on Reddit and social media and invest in that coin/token despite having no idea on how the project works. Ending up with them being burned in the end.

Just check out the altcoin/bitcoin trading pairs on most coins. Most of them(like a huge majority) has lost a lot of value against bitcoin in the long term.

[20kevin20]

Wouldn't be a bad idea to start investing in alts alongside, but Bitcoin is the best bet for newbies. And when I say newbies, I mean those who've been in the space for only a few years.

As mk4 said, most people get to invest in another alt based on what their subreddits or Telegram channels say. If the subs are highly FOMO'ed, they're going to invest forgetting (or ignoring) the fact that these subs are shilled by members and hodlers of the coin itself, their motive being quite obvious.

Altcoin investing requires lots of research. And contrary to what most users believe, "research" doesn't mean surfing Reddit and Telegram channels to find out what the majority says. It's very weird to me how the average Joe would rather put their life savings in a highly shilled shitcoin than investing in what always proves to work over the long term, such as Bitcoin.

[HeRetiK]

There's more than 10 thousand alts and tokens in the market but only one Bitcoin. Sure, you might pick the outperforming unicorn but the odds are not in your favour. For every coin that performs well there's literally thousands that never fully recover after the bull market ends and there's a lot of survivorship bias. The top 10 now look very different from the top 10 during the bull run before or even the years prior to that. Just check the charts.

[bitmover]

But is there a kind of data to support this? Please don’t just experience it----every time Bitcoin falls, there will be a new ATH to explain.

I can show you some data.

MarketCap
Bitcoin accounts today for 48.4% of the total cryptocurrency market capitalization.

This means that investors all around the globe consider that all altcoins combined are worth nearly the same as bitcoin.


https://coinmarketcap.com/charts/

Oldest and most tested cryptocurrency
Bitcoin is the oldest and most tested cryptocurrency out there. BTC is around since 2009, and etheruem only since 2016 (half bitcoin age)

Price correlation
All altcoins have a strong correlation with bitcoin price. If bitcoin price goes down, it is almost certain that all other altcoins will go down as well (usually more than bitcoin). When bitcoin goes up, some altcoisn goes up as well (some don't), with extra volatility.

 So you are not really diversifying when buying altcoins, you are just adding more volatility.
Look, they all have the same chart.


https://blog.liquid.com/what-is-market-cap-in-cryptocurrency

[YOSHIE]

But is there a kind of data to support this? Please don’t just experience it----every time Bitcoin falls, there will be a new ATH to explain.

Not all are interested in Bitcoin, some are interested in Altcoins.

Everyone knows the price of Bitcoin is expensive, if someone has a lot of capital, maybe they are very interested in Bitcoin, maybe not interested in Altcoins.
There are two modes that can be interpreted in the meaning of your topic title.
1. High capital.
2. Low capital.

In this situation, for example:
Reason one: someone has capital say 2 Bitcoins, in one week they can make a profit of $ 8k to $ 10k, This kind of person is not tempted by Altcoins.
Second reason: someone has $100-500 capital, if they want to buy Bitcoin, not now, in 2010 it might be suitable, for that Altcoin is one of the solutions expecting miracles, for example: BTT, Doge at that time.

Conclusion: it depends on the capital they have, to decide to trade and invest in Bitcoin or Altcoin.

[HeRetiK]

MarketCap
Bitcoin accounts today for 48.4% of the total cryptocurrency market capitalization.

This means that investors all around the globe consider that all altcoins combined are worth nearly the same as bitcoin.


https://coinmarketcap.com/charts/

It is also worth nothing that while the ratio of Bitcoin vs altcoin market cap is currently roughly the same as late 2017/2018 there's currently more than 7 times as many cryptocurrencies listed than just 4 years ago (11,156 as of today vs 1,514 in December 2017 [1]). This means on average alts performed only 1/7th as well as Bitcoin.

[1] https://web.archive.org/web/20171204031615/https://coinmarketcap.com/

[Rikafip]

Second reason: someone has $100-500 capital, if they want to buy Bitcoin, not now, in 2010 it might be suitable, for that Altcoin is one of the solutions expecting miracles, for example: BTT, Doge at that time.

Led by this common misconception, first time I entered crypto world I bought altcoins instead of bitcoin. So, back in the late 2013 I decided to spend several hundreds of $ on crypto, and since I couldn't afford one whole BTC and thinking it's way too expensive, I bought bunch of shitcoins which of course proved to be a major mistake.

Point is, no matter how much money you have, if you are newbie, you should 100% of the time stick to BTC as all you have to do is hodl and nothing else, while in order to profit from alts you really have to know some stuff, and even then you have to have shit load of luck not to not end up with having less than you would of you just bought BTC.

@OP Wanna sleep better, be more relaxed and still outperform alts in the long run? Get BTC, as simple as that.

[Rainbow-queen]

Then I use my experience to answer your question.

I have known Bitcoin for three years. I started holding Bitcoin at 30K USDT and was still buying it until 70K. My average cost is 55K.

If I have been holding it until now, the maximum return should be 10 times. But I haven't held it until now. I replaced part of it with altcoins, and altcoin has never risen back after falling.

No matter how much Bitcoin falls, it will rise back over time. Altcoins are very likely to return to zero. Of course, there are also more increases than Bitcoin, and within a short period of time. The question is, can you buy 1 out of tens of thousands?On the contrary, Bitcoin is 100%.

[epis11]

Honestly I have more alts holding than btc I only have very little amount of btc in my wallet because of its really high value I think its better to speculate more in promising alts like ADA, DOT,ETH than to buy bitcoin now but in the long term I strongly trust in btc its more safer than holding alts but taking risk is not bad at all.

[Pokapoka124]

Whatever you hear isn't a financial advise. Crypto market is well known for it's volatility. Imo Bitcoin is more stable than alts this is this why Bitcoin remains the favorite asset for holders. Alts are good for short term gains for traders. When there is a Bear market, bitcoin may fall 20% and alts would do x50% or more.
Btw I think this topic is more suitable for altcoins discussions

[Yogee]

I have seen a lot of opinions about not buying altcoins and always holding bitcoins

Those who have more experience can recommend altcoins depending on the market cycle but I don't expect newbies to understand that immediately so "buying bitcoin" is the most responsible thing to say.

Honestly I have more alts holding than btc I only have very little amount of btc in my wallet because of its really high value

It's all in the mind. Do you really have to hold 1 BTC? Why not think of it in satoshis? Do you believe holding 1 ADA will be the same as holding 1 BTC in the future? Having 1000 ADA today may just be the equivalent of 10K satoshis a few years from now for all we know.

[sapnu]

I have seen a lot of opinions about not buying altcoins and always holding bitcoins before registering.

But is there a kind of data to support this? Please don’t just experience it----every time Bitcoin falls, there will be a new ATH to explain.

You are always free to choose between the two actually and it is for you to decide also if you are going to believe on that data you may saw in the future. For me, investment both in altcoin and bitcoin can both be deemed profitable. It is by your choice of altcoin and your timing in bitcoin that would define the income you get from it. Buy low on bitcoin and sell high, likewise with altcoins. It may even be considered a smart move to diversify your investment as long as you are able to choose a good coin aside from bitcoin. Just be smart and wise upon picking which altcoin you are going to invest in.

[Saidasun]

Bitcoin is the safer path if you want to earn money because it has a good developer team and was created for a purpose. Altcoins you can never be sure if they are a scam or not and if their developers will not just run away once they have earned their money. Bitcoin was created out of passion altcoins are made to profit off Bitcoin. There are only a couple of altcoins which have contributed to the progression of cryptocurrencies and these are Ethereum, Ripple and Monero all other coins are not worth it and are only popular because they are good at generating hype but after that hype falls they dump their coins. Bitcoin has a proven record of 10+ years of being developed and supported by many companies and people it is the birth of cryptocurrencies that we know today and will remain for as long as its the best project which it is by a long shot. Most altcoins are copying the code from Bitcoin and are just changing parameteres around and claiming to be a whole new altcoin.

[Oshosondy]

I have seen a lot of opinions about not buying altcoins and always holding bitcoins before registering.

But is there a kind of data to support this? Please don’t just experience it----every time Bitcoin falls, there will be a new ATH to explain.

Go for any coin you like but bitcoin has the highest security and also the most decentralized, all other cryptocurrencies are not decentralized like bitcoin. You can invest on any coin but I prefer bitcoin, my 70% portfolio is bitcoin while 30% on altcoins. It is working good for me and I like it like that, it will be good to do what work best for you.

[TheMimic1]

Indeed  , holding BTC is just way better and that's what many altcoins depends on, if bTC revaluate other coins will be happy too and BTC is the most popular coin of all, though it's advisable to buy few altcoins too because altcoins ROI can be massive compare to BTC

[hatshepsut93]

Altcoins are copies of Bitcoin created by way smaller teams of developers and with people with less experience. They usually try to put some sort of twist in their coin to make it stand out, which often compromises the security of the network. These coins also can only get a tiny fraction of Bitcoin's security, and there are many documented successful 51% attacks against altcoins. And most importantly, many-many altcoins are created with the sole goal of dumping the premined coins and abandoning the projects sooner or later.

[GeorgeJohn]

In cryptocurrencies investment, i think a beginner should think to Start an investment with bitcoin instead of altcoins, because bitcoin is well known and well pronounced than some of the alternative coins, BTC can only depreciates in value if invest on it and later it will rise, so it's obvious that bitcoin doesn't die off like some altcoins, their is some altcoins you will purchase today and interval of two years it will never comeup, but ethereum is in some extent having a significant value or similar values to bitcoin movement.

[Renampun]

it all depends on your choice because it is your money...

my portfolio is 50% bitcoin and the rest is matic, bnb, ethereum and some altcoins. you don't have to burden yourself with having to hold 100% bitcoin because it's possible that you can make more profit on other crypto coins.

[Macadonian]

Look at the charts that Bitcoin and altcoins have and plot it from today on how much you would have earned if you invested 6 months ago $100.  Bitcoin will be the most profitable when compared to any altcoin and by some margin I would say you could combine most of the popular altcoins and Bitcoin would still win. There is data on it and its indisputable that Bitcoin is the better investment if you are holding.