Making money by speculating in altcoins: a difficult adventure
In the world of digital currency, how difficult is it to make money by speculating in altcoins? Data will not lie. Since the beginning of this year, only 42 currencies have been able to outperform the growth of Bitcoin, among which meme coins and AI concept coins have performed relatively well.
Someone has done statistics. In the past three years, Bitcoin has increased by 81%, while only 90 tokens have increased more than Bitcoin. During the same period, there were about 1,252 altcoins with a market value of more than 10 million, which means that only 7% of altcoins can outperform Bitcoin, which is as difficult as finding a needle in a haystack to accurately hit the so-called "Alpha".
However, choosing a coin is only the first hurdle. Even if you choose the right coin, there are countless violent callbacks waiting for you along the way to get a hundredfold return. This not only requires more luck, but also requires accurate buying at a relatively low point and selling at a high point, which can be said to be "a long and arduous journey".
The crueler truth is that the purpose of issuing most altcoins is to exchange your Bitcoin and Ethereum, and even the founders themselves do not intend to hold them for a long time. In this game, both you and him are making speculative money, but he often runs faster than you.
Therefore, for those who do not have solid skills and dedicated time, and just want to be a leisurely person without watching the market all day, there is nothing more suitable than honestly investing in Bitcoin. Doubled compound interest is always more real than short-term profits.