Should You Forget Altcoins and Just Buy Bitcoin Instead?
Key takeaways
- BTC-USD LTC-USD DOT-USD ADA-USD AVAX-USD Picture a casual investor who in June 2021 split $5,000 evenly across a basket containing Bitcoin (CRYPTO: BTC), Litecoin, Polkadot, Cardano, and Avalanche.
- So should investors even bother with altcoins at all, or just commit to buying and holding Bitcoin and call it a day?
- In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia.
BTC-USD LTC-USD DOT-USD ADA-USD AVAX-USD Picture a casual investor who in June 2021 split $5,000 evenly across a basket containing Bitcoin (CRYPTO: BTC), Litecoin, Polkadot, Cardano, and Avalanche. Only Bitcoin provided a positive return. Every other position is underwater, anywhere from 40% to more than 94% below the entry point.
Bitcoin is up 72% in the same period. Even if you were to pick a handful of other altcoins to compare in the basket, or if you were to go back further in time for the starting point, the result would be the same in nearly all cases: Bitcoin up, and the rest into the abyss. So should investors even bother with altcoins at all, or just commit to buying and holding Bitcoin and call it a day?
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »