CandleFocus Renowned Economist Blasts Altcoins, Explains Why He Prefers Only Bitcoin
2024-09-29
Author: Content Editor
In this content, economist Fred Krueger argues that Bitcoin is the only cryptocurrency worth holding for the long term. He claims that historically, most altcoins have failed to maintain their value compared to Bitcoin. Krueger emphasizes the importance of holding onto investments during market downturns, suggesting that altcoin holders are more likely to panic and sell. He likens altcoins to outdated tech giants and states that Bitcoin is immune to obsolescence. Krueger points out the burden of constantly evaluating new altcoins and warns about potential regulatory risks. He criticizes certain altcoin projects as scams and highlights the overly complicated features of many altcoins. Finally, he notes the critical difference in total supply between Bitcoin and altcoins, with Bitcoin avoiding inflationary pressures.
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