As a newbie I stay off shitcoin and it paid off, Bitcoin is the king.

[Questat]

...Investing in bitcoin have no risk as far as I am concerned because of the trust I have for Bitcoin, and I am taking this bear market as the right time to place my investment, because its a perfect time for me.

It all depends on the price at which you bought Bitcoin. And if you bought bitcoin for 69 thousand dollars, then you would not say that investing in BTC is not risky, since your deposit in dollar terms would decrease by more than 4 times. So all investments in cryptocurrency involve risk, including bitcoin.

Maybe he considers himself a long-term investor and even buying $69k is still okay for he believes that the price of Bitcoin will soon rise and be bullish again. Such a kind of mindset is really encouraging but for us as casual investors who are thinking about making a profit every day, risk will certainly come into our mind, and even be worried about the situation.
Anyways, rich people don't mind if it was risky as they just want to invest and make a way to earn a profit.

[_BlackStar]

It all depends on the price at which you bought Bitcoin. And if you bought bitcoin for 69 thousand dollars, then you would not say that investing in BTC is not risky, since your deposit in dollar terms would decrease by more than 4 times. So all investments in cryptocurrency involve risk, including bitcoin.

This is a volatility risk, of course nothing can prevent it. Bitcoin price fluctuations are of course one of the risks that need to be considered so that people understand what's the point of having a good mentality to face each cycle. Unsurprisingly some long term holders are able to generate large returns even though they have bought at ATH, this is also supported by an investment strategy whereby they have a backup plan in case an asset loses a large percentage of its value.

I mean they can increase their investment portfolio quickly where they have enough reserve funds to buy any dips. Even if their previous investments lose a lot of value in dollar terms, when they understand a good strategy and have a lot of reserve funds, they will be successful in the end. The example I'm talking about is El Salvador or some famous investors like Saylor. They will buy more on the dip so any gains can offset losses. In the end, the rich will get richer and the poor will remain poor because they are not supported by good capital strength.

[Russlenat]

After I started my Bitcoin holding journey a few months ago,
At that time, my close friend Sam! also have some capital he want to put away in cryptocurrency, and I advised him to buy Bitcoin instead of an altcoin. But instead of him to have a long-term potential mentality, he was looking for a quick profit so he filled up his portfolio with shitcoin, while I went in on a single portfolio of Bitcoin and when the unexpected of FTX hack happen the whole market in shamble and his altcoin portfolio have dropped above %800+ but my bitcoin holding still maintains some level of stability.

This gives me more confidence in Bitcoin and newbie who are looking for long-term holding should hold more bitcoin, in their private wallet to avoid exchange, but your knowledge to always have a good entry price.

Bitcoin is definitely the king, and altcoins and shitcoins are just its clones. And most of these altcoins have nothing to be proved in the end, because they eventually lose their value in the process. But for bitcoin, the longer you hold them, the bigger chances of higher returns. And as long as you keep your bitcoin portfolio in your hardware wallet, it will always give you higher level of security too.

There can be no other coins in the market that will definitely replace the position of bitcoin as bitcoin will always be the king and the rest are just its followers. So if you want to maximize your profits and avoid losses by all means, focus on bitcoin but make sure that you are also keeping your coins safety by saving them in your self  custodial wallet.

[Bhig Daddy]

It's for all inexperienced crypto traders, dude; it's not just for beginners. because I occasionally used junk coin and screwed up. Even if the market as a whole has recovered, every time you acquire a shitcoin you have to sell it at a loss because the price has not. So stay away from the shitcoin if you're not a seasoned trader. Use Bitcoin alone, or one of the top 10 alternative currencies. Altcoin investing is still risky, though, because of all the drama in the cryptocurrency market. Just exercise extra caution.

[Hypnosis00]

Perhaps, it was very important to know the consequences of choosing shitcoins for investments when instead there are several potential coins in the market like Bitcoin. That is why I encourage newbies to keep on learning and never be afraid to ask questions if this is the only way to help them know what is the best coin to invest with. Because the more we keep on silent, the more we got prone to get scammed and screwed up by scammers.
If we are new in the market, better to focus on investing in Bitcoin alone - that was the safest way, I think than risking to altcoins.

[reagansimms]

Perhaps, it was very important to know the consequences of choosing shitcoins for investments when instead there are several potential coins in the market like Bitcoin. That is why I encourage newbies to keep on learning and never be afraid to ask questions if this is the only way to help them know what is the best coin to invest with. Because the more we keep on silent, the more we got prone to get scammed and screwed up by scammers.
If we are new in the market, better to focus on investing in Bitcoin alone - that was the safest way, I think than risking to altcoins.

Hype or news that is exaggerated by the media has encouraged beginners to bet on shitcoin in the hope of multiplying profits. Newbies should not be easily manipulated by circumstances, asking is better than speculating on their own. Directions from seniors can help them in making investment choices. Risk can be minimized if you choose a coin that has strong fundamentals, Bitcoin is the best choice among the many other coins that are still in circulation.

[Rengga Jati]

It is very appropriate to stay away from shit coins and prefer to focus on Bitcoin even though there are many altcoins that always promise many things and high profits. However, it's all a scam and shit. This is a smart and wise decision. Not everyone is aware of this.

Hype or news that is exaggerated by the media has encouraged beginners to bet on shitcoin in the hope of multiplying profits. Newbies should not be easily manipulated by circumstances, asking is better than speculating on their own.

Newbies are always the most gullible potential victims. Many newbies have lost money investing in scam coins so far due to their ignorance and their unwillingness to learn to understand what they are investing in first. This happened because of the hype, super sweet promises, and desire to get rich quick. This should be avoided.

[Kasabus]

After I started my Bitcoin holding journey a few months ago,
At that time, my close friend Sam! also have some capital he want to put away in cryptocurrency, and I advised him to buy Bitcoin instead of an altcoin. But instead of him to have a long-term potential mentality, he was looking for a quick profit so he filled up his portfolio with shitcoin, while I went in on a single portfolio of Bitcoin and when the unexpected of FTX hack happen the whole market in shamble and his altcoin portfolio have dropped above %800+ but my bitcoin holding still maintains some level of stability.

This gives me more confidence in Bitcoin and newbie who are looking for long-term holding should hold more bitcoin, in their private wallet to avoid exchange, but your knowledge to always have a good entry price.

This goes not just for newbies alone but even for those veterans, bitcoin will always be the perfect choice for long term hodling. Although I would not say shitcoins are completely not profitable because a lot of us here have made huge profits from it surprisingly, but they can never sustain their value when hold for long term especially that they can be easily triggered when the market suddenly crash or dump. However, with bitcoin, it’s always designed for long term hodling, profiting might be slowly, but at least we can guarantee that it won’t turned a scam eventually.

[Vaculin]

If you are honest with yourself you would state you had a drop also in your Bitcoin investment, and guess what that is not really bad because crypto-currency is volatile. Yes just like you I prefer Bitcoin over Altcoin and I am also yet to get any Altcoin but I don't down play them out rightly.

Your friend did not lose because he invested in Altcoin but rather he invested wrongly, there are still Altcoins that has there heads above waters even after the FTX saga, advice Sam your friend to stop going for Hype, FOMO or FUD but rather do his research.

This is part of truth alot of bitcoin investors hide from people. Thank you for pointing it out. His friend failed because he invested in wrong altcoins and not because he invested in altcoins because there are some altcoins that are still giving investors profit till date. Even him would have lost something from his bitcoin investment since he bought because he must have bought high then. Bitcoin also suffers loss.

This has a point. Even bitcoin does not guarantee profits all the time that’s why I still don’t see it as a secured and guaranteed investment. When you start buying bitcoin even at a low price, then you opted to hold it for long term, then you lost your focus since the value keeps dropping, so you get panic and start selling it at a lower value. That alone is still a loss, not just for money but also a waste of time and effort.

[RILWAN]

Volatility is one of the major constraints of cryptocurrency investment and this goes for all coins even bitcoin, investments require long-term patience and continuity which is not something to easily go with as the market can easily drain out the motivation in the investors to wait for that long.

[Franctoshi]

Investing in bitcoin have no risk as far as I am concerned because of the trust I have for Bitcoin, and I am taking this bear market as the right time to place my investment, because its a perfect time for me.

I don't think this is true , Bitcoin and cryptocurrency generally are risk asset until it is officially adopted and maybe got regulated.
You can say base on historical performance of Bitcoin in the past, that investing into Bitcoin is Best decision to make when looking into invest in digital asset such as Bitcoin. But saying it has no risk I don't really agree with you base on that.

[tvplus006]

Volatility is one of the major constraints of cryptocurrency investment and this goes for all coins even bitcoin, investments require long-term patience and continuity which is not something to easily go with as the market can easily drain out the motivation in the investors to wait for that long.

Investing in bitcoin is safer even in a bear market, although it also involves losses. But it is desirable to invest in altcoin only in a bull market, since when investing in a bearish trend, value losses can reach 99%, and in some cases, a complete loss of value.

[RILWAN]

It is good for your well-being to stay away from hypes that can breed depression from their ugly outcomes in some cases, oos you are right in your decision, and I will encourage you to continue at such since altcoin has been nothing but Ponzi whose CEO has always cashout on their investor just like what Sam did with FTX and Solana or Luna crash.

[Outhue]

Altcoins are full of sad stories in a bear market and they are the best in a bull market it terms of ROI, I think its more safer to invest in Bitcoin right now and when the next halving in near you can start buying altcoins again, we still don't know what will happen this year so altcoins have higher chances of going even deeper.

I don't mind seeing my portfolio losing value because I am in this till 2025 so I am already buying bit by bit and I will keep doing so till next year 2024, it is easier to keep waiting and missing out in the end, it happened in last bear market, everyone expected more pain and things changed when they least expected.

[BinarySumo]

New traders want to make quick profits. That’s why they invest in altcoins. And not all altcoins are worth it. They can be highly volatile, which can make them risky to hold for the long term. Moreover, There may be less information available about altcoins compared to more established cryptocurrencies, which can make it difficult to make informed investment decisions.

[Getmon]

New traders want to make quick profits. That’s why they invest in altcoins. And not all altcoins are worth it. They can be highly volatile, which can make them risky to hold for the long term. Moreover, There may be less information available about altcoins compared to more established cryptocurrencies, which can make it difficult to make informed investment decisions.

The primary objective is to make money, which makes sense, but many people are motivated by greed and ignorance. Once it reaches its previous high, the return on investment for Bitcoin will be 400 percent. For them, 400 percent is insufficient. They want to make a fortune bigger than the potential of Bitcoin. Because only a few altcoins will make it, the majority of these people lost their investments. Additionally, the majority of those altcoins that succeed would not endure for very long. Long-term holding of altcoins is extremely risky.

[Russlenat]

Volatility is one of the major constraints of cryptocurrency investment and this goes for all coins even bitcoin, investments require long-term patience and continuity which is not something to easily go with as the market can easily drain out the motivation in the investors to wait for that long.

Investing in bitcoin is safer even in a bear market, although it also involves losses. But it is desirable to invest in altcoin only in a bull market, since when investing in a bearish trend, value losses can reach 99%, and in some cases, a complete loss of value.

The reason why it’s much better to focus on bitcoin in the first place because even though the progress is slow, but you can assure yourself that you are going to be highly profitable as soon as the market is positive and bullish trend will start taking place in the market. Unlike altcoins, or those shitcoins, they are just profitable at first but eventually drops their value when the market suddenly crash or dump.

[Derrickiell]

Many people who want to get rich quick in the cryptocurrency space and make a lot of money in a short period of time will be tempted to invest in altcoins. But over time many altcoins become scams or disappear, or even lose all funds there. Investing in Bitcoin is a good choice when you are in the cryptocurrency market, it is more reliable and less risky. The longer you hold Bitcoin, the better your chances of reaping rewards.

[RILWAN]

Many people who want to get rich quick in the cryptocurrency space and make a lot of money in a short period of time will be tempted to invest in altcoins. But over time many altcoins become scams or disappear, or even lose all funds there. Investing in Bitcoin is a good choice when you are in the cryptocurrency market, it is more reliable and less risky. The longer you hold Bitcoin, the better your chances of reaping rewards.

Too good to be true is a signal to avoid scam, why people rush into altcoins is the belief that altcoins will make them rich over night, but year in and year out hundreds of altcoins keep pumping up but yet investors, keep getting poor and huge money are getting stolen away from the cryptocurrency market cap.
If you check the record of loses in the the last couple of years you will be amazed how much investors have lost on altcoins.
So ops are right to stay away from altcoin.

[mvdheuvel1983]

...Investing in bitcoin have no risk as far as I am concerned because of the trust I have for Bitcoin, and I am taking this bear market as the right time to place my investment, because its a perfect time for me.

Everything has inherent risks.
Any investment without risk is a shaddy one. Aside the volatility risks, there are those who seek to steal your coins. They are called Scammers.
And they are on the rise. So, take care when you see websites offering 10x bitcoins when you invest or even those that may ask you for personal information so as to access your rewards after performing some mundane tasks.
This is one of the risks and you can lose you bitcoin forever.