Bitcoin continues to perform well against altcoins, after lagging significantly earlier in the year.
It’s hard to say how altcoins will react if bitcoin goes above $100,000. They may soar higher right along with it. Or they may struggle for attention in the face of a big blowout all-time-high.
There’s really no telling. I suspect the strongest altcoins — like Ethereum, Solana, FTX Token and Avalanche — will continue to head higher. Whether they will beat bitcoin is hard to say.
I feel that my money is safer in bitcoin. It’s battle-tested, secure and ubiquitous. And another nice thing about holding long term is not having to worry about capital gains taxes when you switch coins.
So my crypto portfolio continues to be very bitcoin-heavy. It has the potential to multiply 10x in five years. If that happens, it’ll be good enough for me.
If another coin that truly rivals bitcoin comes along, I’ll consider investing some. But I don’t see anything like that today.
And lately, most of crypto Twitter seems to be on the same page about this. Most of the smart influencers I follow, like CryptoCobain, are very bullish on bitcoin.