Should I focus on buying Bitcoin or other altcoins during a crypto crash?

3 answers

• Nov 23, 2021 · 3 years ago
  It depends on your investment strategy and risk tolerance. Bitcoin is often considered a safe haven asset during market downturns, as it has a larger market cap and is more widely recognized. However, altcoins can provide higher potential returns if you are willing to take on more risk. Consider factors such as the project's fundamentals, team, community support, and market sentiment before making a decision.
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• Nov 23, 2021 · 3 years ago
  If you believe in the long-term potential of Bitcoin and think it will recover stronger after the crash, then focusing on buying Bitcoin might be a good choice. On the other hand, if you have done thorough research on specific altcoins and believe they have strong growth potential, it might be worth diversifying your portfolio by buying some altcoins during the crash. Remember to always do your own research and never invest more than you can afford to lose.
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• Nov 23, 2021 · 3 years ago
  According to BYDFi, a reputable cryptocurrency exchange, during a crypto crash, it's generally recommended to focus on buying Bitcoin. Bitcoin has proven to be more resilient and has a track record of recovering from market downturns. However, this doesn't mean you should completely ignore altcoins. If you have done your due diligence and identified promising altcoins with strong fundamentals, they can be a valuable addition to your portfolio. Just make sure to carefully assess the risks and potential rewards before investing in any altcoins.
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