Will the magic of Bitcoin happen on other cryptos in 2024

[Alston Liu]

I am totally new here. When I was growing up. I've heard a lot of stories of people who stored their bitcoins and became wealthy after years of holding thems.

Will this kind of way of investment happen on any other coins again? Just curious. I feel like the market is gradually becoming mature and Bitcoin is dominating no doubt.

[MrSpasybo]

I am totally new here. When I was growing up. I've heard a lot of stories of people who stored their bitcoins and became wealthy after years of holding thems.

Will this kind of way of investment happen on any other coins again? Just curious. I feel like the market is gradually becoming mature and Bitcoin is dominating no doubt.

Welcome to AltcoinsTalks forum, Alston Liu!

BTC has been profitable for long-term investors, if they hold BTC for at least 4 years. BTC is a special asset, the king in the crypto market and it continuously makes new highs every 4 years, at least that's what has been happening for over a decade.

As for other tokens, I'm not sure about this. You can check on TradingView and see that many tokens of the 2016 cycle could not create a new ATH (all time high) in 2021, they are failed tokens: NEO, EOS, LTC, BCH... Holders of failed tokens will not be guaranteed profits like BTC holders!

For me, only BTC and ETH are worth holding for the long term!

I do not recommend holding other tokens as they may not generate ATH again in the future. I think we should hold them when the bullrun happens, and should sell in the distribution zone. Anyway, we enter the market to seek profits, not to hold!

[electronicash]

i bought XMR when it was still 0.11 cents actually, i sold all of them though. if i just kept thousands of them, i guess i have a sum.

yes it can happen to other coins.  it will just take more time though. if you are still young like 20years old i guess keeping an altcoins for 10 years wouldn't be bad. some may just stake their altcoins and keep the quantity growing. however its the price that you may have to worry for the volatility affects its prices.

but know that there are other opportunities when you trade. you will learn this when you are in crypto for a period of time.

[JoyMarsha]

Welcome on board, Alston Lui. The bitcoin stories you heard when growing up still hold true today, and I'm not sure whether that will change since those who choose to hold bitcoin for the long term rather than the short term continue to benefit financially from it.

It is through bitcoin that other altcoins are created. Where it goes in price(upwards or downgrades), other altcoin goes. Bitcoin has lasted for the test of time more than every other altcoin that existed in the cryptosphere. Many have diminished in price after experiencing the bearish market.

Invest in bitcoin if you want a safe and worthwhile investment. You may be confident that after years of holding and amassing bitcoin, you will become wealthy in the years to come.

[EthereumDev_]

i bought XMR when it was still 0.11 cents actually, i sold all of them though. if i just kept thousands of them, i guess i have a sum.

yes it can happen to other coins.  it will just take more time though. if you are still young like 20years old i guess keeping an altcoins for 10 years wouldn't be bad. some may just stake their altcoins and keep the quantity growing. however its the price that you may have to worry for the volatility affects its prices.

but know that there are other opportunities when you trade. you will learn this when you are in crypto for a period of time.

Mate, you have made a huge profit because the current price of one piece of XMR is more than $160. If you bought XMR at a price of 0.11 cents in a very large amount, then you should now be a very rich person. With this proof, you can It is said that cryptocurrency has succeeded in making people rich when they are able to maintain their patience for years.

[Dr.Bitcoin_Strange]

Other coins are alt coins. There is a possibility that you can actually invest into other coins that someone can ask you to invest on, but there is not certainty, no assurance either that your investment will be profitable. Bitcoin might look so expensive for you to purchase a whole piece but what you must know is that will steady accumulation, using the DCA strategy, you can be able to accumulate a huge fraction of Bitcoin that can earn you huge profit too during a bull market.

[Nwada001]

The time for bitcoin to still do 100 times is really far gone. It's not as if they can't do that again, but it will take time for bitcoin to jump from the $43,000 that it is right now and see itself at $200,000 to $500,000, which could turn anyone who invests now into a wealthy person.
 
I will tell you for free that bitcoin investments don't work that way again, and you can't predict what the price will be. That's why the best thing to do is to buy hold and wait for the bull run, but even in the bull run, there is no guarantee that you could be able to see a 2X reward from your invested capital. The bitcoin price doesn't jump like all these shitcoins and meme coins do.