During this time, the sentiment in the crypto market has changed a lot, the prospect of the future has become brighter than it was half a year ago. Investors have been more optimistic because they now have many bright names to choose the gold deposit side, but too many options also exist certain downsides. For example, in the remaining months of 2020, is Bitcoin or Altcoin a better choice?
Sure to wear durable with Bitcoin or bingo with altcoin?
The momentum has returned to the market and traders have also allocated capital to their favorite blockchain projects. The question for most investors is which coin will have the largest rate of return?
Bitcoin is of course the biggest name in the market, with the most users and the project that attracts the most talents to focus on working to promote network development. This is the most influential currency, the most supported infrastructure, and at the same time balances the anonymity of the user as well as convenience in use. For traders, Bitcoin is also the most liquid and the safest network, with hashrate no other project comparable.
On the other hand, altcoins often have strong volatility and carry a lot higher risk. They are not secure, not many coins have enough liquidity and are vulnerable to low hashrate or not as consensus safe as many PoS coins. Some altcoins are even controlled by their holding company, which is no different from securities. Therefore, investing altcoins should be considered on a case-by-case basis and carefully researched, before deciding to "down money".
Altcoin with high volatility
Many traders prefer the large fluctuations of small cap altcoins because they provide much greater profitability than the top altcoins. Most altcoins rise as Bitcoin rises, sometimes with even greater growth, but the same thing happens if BTC starts to plunge.
In 2017, many investors became millionaires by benefiting from the extremely small altcoins that suddenly surged thanks to some news of cooperation with major partners. But can that be repeated in the future?
Altcoins can be viewed as penny stocks. If you're lucky, plus a little calculation, you can absolutely buy the next Google, Amazon or Tesla, but of course it is very difficult. If you plan to invest in altcoins, do your own research as there is no project like any. At the same time, altcoins and the companies behind them may be completely dominant, Bitcoin is not.
In short, for long-term traders and safety, Bitcoin is a much better investment in 2020, especially when halving is not far away. Altcoins can help adventurous traders make more money, it's really, the risk will be much greater, and trading these currencies will also consume a lot of time and your mind. .
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According to Coin68 / Bitcoinist