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<p>Renowned economist <strong>Fred Krueger</strong> has made his position clear in the ongoing debate between <strong>Bitcoin</strong> and altcoins, explaining why he believes Bitcoin is the only cryptocurrency worth holding long-term.</p> 
<h2 id="strong-altcoins-lose-value-over-time-compared-to-bitcoin-strong"><strong>Altcoins Lose Value Over Time Compared to Bitcoin</strong></h2> 
<p>Krueger pointed out that historically, most <strong>altcoins</strong> have failed to maintain their value against Bitcoin. Referring to Ethereum’s peak in 2017, he highlighted how its value has significantly dropped compared to Bitcoin. The same can be said for other altcoins like <strong>Litecoin</strong> and <strong>EOS</strong>, as well as many cryptocurrencies launched before 2020.</p> 
<h2 id="strong-surviving-bear-markets-requires-strong-belief-strong"><strong>Surviving Bear Markets Requires Strong Belief</strong></h2> 
<p>When investing in Bitcoin, Krueger emphasized the importance of having “diamond hands”—the ability to hold onto investments during downturns. He argued that <strong>altcoin</strong> holders are more likely to panic and sell during market declines, whereas Bitcoin investors have a stronger belief in the cryptocurrency’s long-term potential.</p> 
<p><img decoding="async" class="alignnone size-full wp-image-15681" src="https://www.turkishnyradio.com/wp-content/uploads/2024/09/economist-Fred-Kruegers-stance-on-Bitcoin-versus-altcoins-with-Bitcoin-symbolized-as-stable-and-dominant-compared-to-volat.webp" alt="economist Fred Kruegers stance on Bitcoin versus altcoins with Bitcoin symbolized as stable and dominant compared to volat" width="1792" height="1024" title="Economist Fred Krueger Criticizes Altcoins: Here's Why He Only Prefers Bitcoin 6" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/09/economist-Fred-Kruegers-stance-on-Bitcoin-versus-altcoins-with-Bitcoin-symbolized-as-stable-and-dominant-compared-to-volat.webp 1792w, https://www.turkishnyradio.com/wp-content/uploads/2024/09/economist-Fred-Kruegers-stance-on-Bitcoin-versus-altcoins-with-Bitcoin-symbolized-as-stable-and-dominant-compared-to-volat-768x439.webp 768w, https://www.turkishnyradio.com/wp-content/uploads/2024/09/economist-Fred-Kruegers-stance-on-Bitcoin-versus-altcoins-with-Bitcoin-symbolized-as-stable-and-dominant-compared-to-volat-1536x878.webp 1536w" sizes="(max-width: 1792px) 100vw, 1792px"></p> 
<h2 id="strong-altcoins-are-like-outdated-tech-strong"><strong>Altcoins Are Like Outdated Tech</strong></h2> 
<p>Krueger compared altcoins to outdated technology giants like AOL and Myspace, stating that while <strong>Bitcoin</strong> was designed to be the “perfect money,” most altcoins are susceptible to becoming obsolete over time.</p> 
<h2 id="strong-altcoin-research-is-time-consuming-strong"><strong>Altcoin Research Is Time-Consuming</strong></h2> 
<p>With hundreds of new altcoins minted every day, Krueger noted that researching and evaluating these projects can be a full-time job. He believes that by focusing solely on <strong>Bitcoin</strong>, investors can simplify their strategy and avoid the burden of constantly analyzing new coins.</p> 
<h2 id="strong-most-altcoins-are-scams-strong"><strong>Most Altcoins Are Scams</strong></h2> 
<p>Krueger didn’t hold back in his critique of what he called outright scams in the altcoin space. He referenced notorious examples like <strong>SafeMoon</strong>, <strong>Bitconnect</strong>, and <strong>Celsius</strong>, warning investors about falling prey to such fraudulent projects.</p>

Economist Fred Krueger Criticizes Altcoins: Here’s Why He Only Prefers Bitcoin

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