![]() ![]() Investors were looking for the next Bitcoin because now there was proof that you could become a millionaire from investing in cryptocurrencies. There are now over 14,700 listed altcoins, and the list grows every day.Ĭryptos previously dormant began a steady rise from obscurity, such as Dogecoin (DOGE) for instance, which saw 15,000% gains from 2020 to 2021. The word "altcoin" literally means an alternative to Bitcoin. ![]() The high profile of Bitcoin (BTC) raised the public profile for the cryptocurrency market, and many new altcoins sprang up as a result. Many people made a lot of money from investing in Bitcoin (BTC), but, equally, uneducated investors bought Bitcoin at a high price and lost their investment because they cashed out for a loss. From 2017, Bitcoin had so much media coverage with sensational headlines across the globe, foretelling that Bitcoin price would rise to $100,000. When people think of cryptocurrency, they typically think about Bitcoin.
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