Almost Half Of Crypto Dealers On Twitter Own More Altcoins Than Bitcoin
The bull market is at hand, and now people are stopping to ask themselves the hard questions. For example, how much of your crypto portfolio is Bitcoin and how much are altcoins? Someone decided to let people share their truths.
In a Twitter post, a Twitter user going by the handle, ”DonAlt,” made a simple poll asking people how much of their crypto portfolios were in altcoins as compared to Bitcoin. DonAlt is a popular crypto analyst and member of the crypto twitter. The post drew the attention of over 10,000 people who participated in the poll. The results were staggering.
Apparently, almost half (roughly 47%) of Twitter users hold their cryptos in altcoins instead of Bitcoin. Although results from twitter polls aren’t necessarily conclusive due to the relatively low number of respondents, the fact that this poll covered 10,000 people gives the indication that the results found might as well mirror the general sentiment of the larger crypto community.
“It’s A Bad Idea”
Commenting on the final results, DonAlt didn’t sound at all pleased with the fact that so many people were holding altcoins instead of Bitcoin. In his opinion, that is a bad idea. He promised to post an article later on explaining why he thinks so.
Turns out, DonAlt isn’t the only person who thinks holding a lot of altcoins is a bad idea. One user argued that anyone who has their crypto portfolio at lower than 40% in Bitcoin is lost and doesn’t know what they’re doing.
Another user was a little more objective, saying that one’s crypto portfolio may depend on the amount they’ve invested. If someone has huge capital, they can invest in Bitcoin and wait for a 3X in returns in the long term. However, if they have lower capital, they can throw it into some high-risk altcoin capable of yielding 10X overnight.
Altcoins Have Gained
Looking at the available data, it’s agreeable that, indeed, altcoins have had their better days over Bitcoin during some periods over the last year. For example, in 2019, Litecoin has gained over 186% in price increase while Binance is up 207%.
On the other hand, Bitcoin has only jumped by 40%. In essence, people who have invested huge amounts in Bitcoin have gained a lot as compared to those with low investments.