Why most trader prefer to invest their money in bitcoin rather than other cryptocurrencies?

[Ayeshabashir]

Bitcoin becomes the most preferred coin for trading because we have seen that the price of bitcoin had risen upto $72000 so it will be more chances in the future the price of bitcoin will increase more as we know that the price of bitcoin is $37000 and from my perspective it is very right time to purchase this buy and sell when the price will increase so that we will gain a lot of profit and make a lot of money as compared to ethereum,dogecoin ,altcoins etc because the price of ethereum is very low as compared to bitcoin so the member who wants to make a lot of money through cryptocurrencies i will suggest them to buy bitcoin because through this it will be more chances to become rich i know that the price of bitcoin has decreased but ut will rise again one day

 

[Wiserr]

This a good question, I will first start by commending your efforts for bringing in this, well in my idea many people are investing on Bitcoin is because Bitcoin is the best cryptocurrency that you can make lots of profits in just small time, seriously even me I'll love to start trading as a matter of fact if I have enough money I will also invest on Bitcoin my reason for investing on it is because it's the best cryptocurrency that brings me lots of things in just small time, Bitcoin is the best cryptocurrency to invest on, thank you.

 

[Kingsley]

I think the highest all time high that bitcoin has ever hit is $69,000 and not $72,000. But as we all know the bitcoin is the only coin that holds all other coins together and determines what really happens to other coin in the ecosystem of the crypto currencies market. The bitcoin is the foundation on which every other coin is been built. So what ever happens to the bitcoin it definitely have a very sharp effect on every other coin in the market. When we look at the relevance of the solar system in space we can also liken that same thing to the crypto market, everything we see and here about crypto currencies are all built on the price and actions of the bitcoin. Now taking about preference of a particular coin to invest in will really depends on some factors and not just by the name of the coin.

On a lighter note the bitcoin would have always been the very best to invest in if you our investment is very large as you can easily predict the behavioural patterns of the bitcoin. So one of the major factors that determines include the amount one is investing on the coin.

 

[Shaf]

Bitcoin has not gone as high as $72k but it has gone to $69k.

I do know that however, most traders prefer to trade altcoins over Bitcoin because of their higher volatility and thus higher potential gains in a bull run. While Bitcoin may go up by just 10%, other altcoins can go as high as 100% or even more in a single day.

However, more conservative traders with huge capitals prefer the relative low volatility of Bitcoin as it minimises their loss, and they can make significant gains with the amount of money they have.

In an uncertain market like the current one, it's best to just stick to Bitcoin till it stabilizes and establishes a trend.

 

[Finger Geek]

bitcoin had risen upto $72000

I never knew or noticed the price of bitcoin grows to $72,000, but you may be right. The highest price of bitcoin that I know was $68,000.

Bitcoin is a coin that almost all coin follows it's trend. When the price of bitcoin rose from $10,000 + to $60,000, other coin like etherium, litcoin, dogecoin, Binance coin and the many other coin rose together with it. That was also when the price of dogecoin rose from $0.003 to $0.6. This made lots of people that had some coin in there wallet to become rice. I also made lots of profit with dogecoin. Then I had not up to $1 in my wallet many years back and when the price rose to $0.6 plus, the worth of my dogecoin was more than $200.

Bitcoin is a strong coin that will never rise and go down that same week or month. Like some coin that I wanted to invest with some times ago. It was when I was to buy the coin that I see that the price has gone down 3 times the initial price. The price of the coin rose and fell in just 3 days. But this can not happen with bitcoin. If bitcoin is to decline in price, it will be gradual process.