Topic: ㅤ (Read 310 times)
Honestly I appreciate your hustle. Most people these days just randomly attach onto a coin and try to ride the highs and lows. You seem to have a sound strategy. The one thing I like to hear is averaging altcoins is a bad idea. That's probably a good strategy in that they are way too volatile and more apt to go to zero than bitcoin. Following this thread
As long as bitcoin's pump will not hit any serious resistance, we will not see the major altcoins pump soon, so under such circumstances, the capitalization and price of altcoins will decrease or show very little growth. The lower the capitalization of the project, the less attention from investors to it at the moment. I see some growth in coins, which are in the very first hundred coinmarketcap, the rest are very sluggishly reacting to the latest events. Right now all the attention is around bitcoin.
That's an impressive list, need to spend some time to study and understand how and what works here. On a cursory glance, I noticed that you are averaging altcoins that were purchased earlier in 2021. I noticed that one altcoin you ignored and did not average, choosing to continue to sit at a large loss compared to the purchase price. I'm talking about Kusama now. Why didn't you average it, because now it's quite an attractive price, which is much lower than the one at which you bought this asset?
Good point. Indeed, I forgot to write about it in the methodology. The fact is that I did not plan to invest in Kusama in the long term at all, but bought only to participate in parachains that were relevant in 2021 and there was a lot of hype around. The hype has passed and parachains has completely died, and is unlikely to be revived. I could not sell these tokens after the end of the hype due to the fact that when participating in parachains, they were blocked for 48 weeks. After unlocking, the price dropped very much and I did not fix the losses. I'll wait a few more years, maybe I'll be able to at least break even. Kusama was disappointing to say the least. It is a pity for those who bought for $600, they run the risk of forever remaining under water.
There were also parachains on Polkadot, as far as I know, and the conditions there were a bit worse than on Kusama. Polkadot I also see in your portfolio and judging by the fact that you have made several purchases, you have more confidence in this asset?
Ypu have some logical choices of what to put money into and what not to. First things first ypu have a clear line of what you are looking for. Good on you. Seen that you intend to steer clear from memecoins, that's a solid plan. Not going after old alts that were kind of dead on the last bull, good choice. And one thing I would also steer clear from is any quick pumped coin, you will most likely lose capital that way. Will follow your journey good luck to you.
I still believe memecoins are only good investing into, before its release to the market. Having a followthrough investment after reaching its ATH value would be a gamble given that there's nothing to sustain its market value from falling other than demand from investors. Question is how would it have a consistent demand if there's no use of such coin? Likewise with 'dead coins' which are not actually dead but are having difficulties to make a recovery simply because their mother project is having no progressive development at all. If it is long term holding it would still be huge names which would be a better choice.
Ypu have some logical choices of what to put money into and what not to. First things first ypu have a clear line of what you are looking for. Good on you. Seen that you intend to steer clear from memecoins, that's a solid plan. Not going after old alts that were kind of dead on the last bull, good choice. And one thing I would also steer clear from is any quick pumped coin, you will most likely lose capital that way. Will follow your journey good luck to you.
That's an impressive list, need to spend some time to study and understand how and what works here. On a cursory glance, I noticed that you are averaging altcoins that were purchased earlier in 2021. I noticed that one altcoin you ignored and did not average, choosing to continue to sit at a large loss compared to the purchase price. I'm talking about Kusama now. Why didn't you average it, because now it's quite an attractive price, which is much lower than the one at which you bought this asset?
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