An advice for newbies and plebs - page 8.

Polkeins

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Quote from: Ultegra134 on March 12, 2022, 11:58:28 AM

Quote from: Polkeins on March 12, 2022, 10:58:18 AM

Quote from: so98nn on March 12, 2022, 09:43:47 AM

Good, in short the OP is confining us to the HODL methodology which is the safest one and there is no loss as long as you are not selling your crypto currencies. With the time crypto will show numerous ups and downs and could result in shocked situation but all you have to do is hodl until you get desired profits.

However, to point out, current year is also the biggest DIP, and I feel like its worst one and we may not ever see it again if the crypto breaks the current resistance in the up coming days. Reason one, peeps are buying the currencies at alarming rate and thus we are making strong liquidity base, meaning at some point there will be large number of assets to trade so price wont fall sharply. Secondly the whole community is driving themselves towards halving year 2024, so brace for the bigger up surges.

The HOLD strategy works at a long distance only for Bitcoin and Ether. There are only 3 cryptocurrencies from Top 10 by capitalization in 2017 still in top 10 now in 2022 - BTC, ETH and Ripple.
All the others cryptocurrencies dropped out of the top 10, including Litecoin(which is still good) and Bitcoin Cash.
Therefore, I would not say that HOLD is a 100% winning strategy. It is always necessary to monitor the market, otherwise you can easily get losses.

We all mention hold, hold, hold, but no one mentions for how long, or what determines when to stop holding and convert to cash, or what else. You're mentioning for long-term, how long is that period? We've also seen examples of holders who eventually gave up after Bitcoin's crash in 2017. Thus, I believe that the holding strategy is a bit vague.

Certainly, we'll have to convert to fiat eventually, however, Bitcoin and Ethereum aren't the only reputable coins, such as Binance. Wasn't aware that Litecoin had dropped from top cryptocurrencies, hadn't noticed all this time.

Well, litecoin didn't exactly fall out, it just dropped to 21st place.
But now it's not only far to the 3rd place, but also to the top ten in principle.
It is well noted that the HOLD strategy can be successful, but you need to understand what you are going to do in the end? When to get into fiat? Or do not go out at all and wait when almost everyone would be accept payment with bitcoin.

Quote from: palle11 on March 12, 2022, 12:27:55 PM

Quote from: Polkeins on March 12, 2022, 10:58:18 AM

The HOLD strategy works at a long distance only for Bitcoin and Ether. There are only 3 cryptocurrencies from Top 10 by capitalization in 2017 still in top 10 now in 2022 - BTC, ETH and Ripple.
All the others cryptocurrencies dropped out of the top 10, including Litecoin(which is still good) and Bitcoin Cash.
Therefore, I would not say that HOLD is a 100% winning strategy. It is always necessary to monitor the market, otherwise you can easily get losses.

As far with hodling is concern I think bitcoin and etheruem are the most reliable. Ripple isn't in high demand even though it is still retaining one to five spots. But on the higher level the bitcoin is the general choice and followed by etheruem before any third spot from the 10 spot. However, BNB has been very popular the last two to three years. Binance is looking to stay comfortable on 1 to 5 spot for longer time since it established itself as one of the largest exchanges.

Still, you should not rely too much on the binance, this is a very centralized structure. I would consider only POW cryptocurrencies - BTC, ETH, LTC and others

palle11

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Quote from: Polkeins on March 12, 2022, 10:58:18 AM

The HOLD strategy works at a long distance only for Bitcoin and Ether. There are only 3 cryptocurrencies from Top 10 by capitalization in 2017 still in top 10 now in 2022 - BTC, ETH and Ripple.
All the others cryptocurrencies dropped out of the top 10, including Litecoin(which is still good) and Bitcoin Cash.
Therefore, I would not say that HOLD is a 100% winning strategy. It is always necessary to monitor the market, otherwise you can easily get losses.

As far with hodling is concern I think bitcoin and etheruem are the most reliable. Ripple isn't in high demand even though it is still retaining one to five spots. But on the higher level the bitcoin is the general choice and followed by etheruem before any third spot from the 10 spot. However, BNB has been very popular the last two to three years. Binance is looking to stay comfortable on 1 to 5 spot for longer time since it established itself as one of the largest exchanges.

Ultegra134

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Quote from: Polkeins on March 12, 2022, 10:58:18 AM

Quote from: so98nn on March 12, 2022, 09:43:47 AM

Good, in short the OP is confining us to the HODL methodology which is the safest one and there is no loss as long as you are not selling your crypto currencies. With the time crypto will show numerous ups and downs and could result in shocked situation but all you have to do is hodl until you get desired profits.

However, to point out, current year is also the biggest DIP, and I feel like its worst one and we may not ever see it again if the crypto breaks the current resistance in the up coming days. Reason one, peeps are buying the currencies at alarming rate and thus we are making strong liquidity base, meaning at some point there will be large number of assets to trade so price wont fall sharply. Secondly the whole community is driving themselves towards halving year 2024, so brace for the bigger up surges.

The HOLD strategy works at a long distance only for Bitcoin and Ether. There are only 3 cryptocurrencies from Top 10 by capitalization in 2017 still in top 10 now in 2022 - BTC, ETH and Ripple.
All the others cryptocurrencies dropped out of the top 10, including Litecoin(which is still good) and Bitcoin Cash.
Therefore, I would not say that HOLD is a 100% winning strategy. It is always necessary to monitor the market, otherwise you can easily get losses.

We all mention hold, hold, hold, but no one mentions for how long, or what determines when to stop holding and convert to cash, or what else. You're mentioning for long-term, how long is that period? We've also seen examples of holders who eventually gave up after Bitcoin's crash in 2017. Thus, I believe that the holding strategy is a bit vague.

Certainly, we'll have to convert to fiat eventually, however, Bitcoin and Ethereum aren't the only reputable coins, such as Binance. Wasn't aware that Litecoin had dropped from top cryptocurrencies, hadn't noticed all this time.

Polkeins

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Quote from: so98nn on March 12, 2022, 09:43:47 AM

Good, in short the OP is confining us to the HODL methodology which is the safest one and there is no loss as long as you are not selling your crypto currencies. With the time crypto will show numerous ups and downs and could result in shocked situation but all you have to do is hodl until you get desired profits.

However, to point out, current year is also the biggest DIP, and I feel like its worst one and we may not ever see it again if the crypto breaks the current resistance in the up coming days. Reason one, peeps are buying the currencies at alarming rate and thus we are making strong liquidity base, meaning at some point there will be large number of assets to trade so price wont fall sharply. Secondly the whole community is driving themselves towards halving year 2024, so brace for the bigger up surges.

The HOLD strategy works at a long distance only for Bitcoin and Ether. There are only 3 cryptocurrencies from Top 10 by capitalization in 2017 still in top 10 now in 2022 - BTC, ETH and Ripple.
All the others cryptocurrencies dropped out of the top 10, including Litecoin(which is still good) and Bitcoin Cash.
Therefore, I would not say that HOLD is a 100% winning strategy. It is always necessary to monitor the market, otherwise you can easily get losses.

so98nn

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Good, in short the OP is confining us to the HODL methodology which is the safest one and there is no loss as long as you are not selling your crypto currencies. With the time crypto will show numerous ups and downs and could result in shocked situation but all you have to do is hodl until you get desired profits.

However, to point out, current year is also the biggest DIP, and I feel like its worst one and we may not ever see it again if the crypto breaks the current resistance in the up coming days. Reason one, peeps are buying the currencies at alarming rate and thus we are making strong liquidity base, meaning at some point there will be large number of assets to trade so price wont fall sharply. Secondly the whole community is driving themselves towards halving year 2024, so brace for the bigger up surges.

Ultegra134

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Quote from: GreatArkansas on March 06, 2022, 04:07:21 AM

*might*

For me, if you are a responsible and well-knowledge trader even what is the condition of the market (bear market or bull market) you can still earn profits.
For example, doing futures trading because as you know, we can short the market or make profits even price is dumping. I know some people who makes lot of money even bear market.

As this user suggested, an experienced trader is usually capable of achieving profit, despite the market condition. Certainly, some days are better than others, while not all opportunities are equal, profit can still be made.

I guess that we're used to compare the current situation, with 1-2 years ago, in which Bitcoin suddenly skyrocketed, leading into thousands or even millions in profit.

Etranger

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Quote from: adaseb on March 11, 2022, 10:25:59 PM

I don’t think anyone got rich buying Bitcoin last cycle. Let’s say they bought at $19.5K because they were anticipating a break out from the old $20K ATH. Unless they sold at 3x where they would of made 200% it’s not going to make anyone a millionaire.

Last cycle was all about the Defi, airdrops, NFTs, Meta, etc. Those were the real money makers. There were some many airdrops, many in the 4-5 figures that they were pretty much giving money away. Bitcoin never gave that. The time when Bitcoin made millionaires was during 2016-2017 before it broke $1K ATH.

Yeah, but this is more about making fast and big money. All at once. This approach requires quite risky thinking and willingness to lose all investment. When we talk about bitcoin, I think people associate it with a stable and less risky income. It may not make you a millionaire, but you are more likely to stay in profit.

Mpamaegbu

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Quote from: Wind_FURY on March 05, 2022, 06:32:10 AM

2022 - It might be a bear market.

Your choice of expression in, "Might be" is accurately suggestive of the truism that in cryptos there's nothing certain. Everything is based on speculation. I, for one, believe that Bitcoin will remain bearish in this first quarters of 2022. After this quarter, I expect it to resurge and go on a high once again. Then we repeat the circle as we have had in the past circles towards the end for the year. However, let me quickly point out here that times and tides have changed as we've seen a lot of mix in the industry. Institutions and whales putting their money in Bitcoin. Even this ongoing Russia/Ukraine war can trigger a different dynamics, either in favour of Bitcoin or against it. Personally, I expect it to be in favour of Bitcoin; knowing how both countries have favoured it before going into this senseless war.

FairUser

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Quote from: Wind_FURY on March 05, 2022, 06:32:10 AM

Simply stop day-trading, or any more active form of trading. Preserve your capital and wait for the market to be in the same situation like 2020 again, when investors were excited to throw their money in crypto. The market narrative has changed, people are not as excited. The market has always followed a bull - bear cycle. Save your money, and wait for the next opportunity.

2022 - It might be a bear market.
2023 - It might be the next opportunity to buy the Bitcoin DIP.
2024 - It might be the new BULL MARKET.

Simply suitable for a newbie

Perhaps each of us has our own approaches, I am not a savvy person in this market, and I know that predictions are relative and we all have arguments for what we do when we search. I like DCA to increase the number of cryptos and then there will come a time when it will be necessary to rotate them with other assets. It will be more beneficial to keep abreast of market movements.

Inspiron14

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Quote from: tbterryboy on March 12, 2022, 01:19:41 AM

Some simple and very basic tips I can give to newbie traders are:

1- Don't fall for the hype and don't panic for NO reason
2- Don't invest in memes and if you do, make sure to cash them asap
3-Avoid following the so-called Influencers, everyone is paid!

Another very important thing is, around the halving time, the price will normally go upwards. So what you can do is, buy some good amount of BTC right before halving and then sell it after the price has pumped.

Yes I quite agree with the tips you gave and the most important thing for newbie traders is that they need to understand first about trading,
because with the lack of experience it is too risky to start trading and there is much to learn,
Besides that, finding the right strategy for yourself is also important

tbterryboy

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Some simple and very basic tips I can give to newbie traders are:

1- Don't fall for the hype and don't panic for NO reason
2- Don't invest in memes and if you do, make sure to cash them asap
3-Avoid following the so-called Influencers, everyone is paid!

Another very important thing is, around the halving time, the price will normally go upwards. So what you can do is, buy some good amount of BTC right before halving and then sell it after the price has pumped.

traderethereum

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Anyway, I agree with @OP's suggestion to save money and wait for the next opportunity because if we keep trying to day trade or something else, while we don't have better skills, we will find it hard to make a profit.
But it is a free choice for everyone, especially beginners who want to keep a feel for trading in today's times but still be careful because the market is constantly changing and volatile.
If you decide to keep trading, don't spend too much money if you're unsure of the move and avoid hoping to make a big profit if the market doesn't look like it's moving upwards.

adaseb

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I don’t think anyone got rich buying Bitcoin last cycle. Let’s say they bought at $19.5K because they were anticipating a break out from the old $20K ATH. Unless they sold at 3x where they would of made 200% it’s not going to make anyone a millionaire.

Last cycle was all about the Defi, airdrops, NFTs, Meta, etc. Those were the real money makers. There were some many airdrops, many in the 4-5 figures that they were pretty much giving money away. Bitcoin never gave that. The time when Bitcoin made millionaires was during 2016-2017 before it broke $1K ATH.

fuguebtc

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Quote from: Wind_FURY on March 07, 2022, 05:22:20 AM

Quote from: hugeblack on March 05, 2022, 08:18:26 AM

Quote from: Wind_FURY on March 05, 2022, 06:32:10 AM

snip

[n]Do you have any calculations or graphic analyzes that prove what you are trying to say here[/b]? I don't know, but many are still optimistic about 100K USD before the end of this year, and given the current situation, we still have promises of good volatility.

Personally, I see the best opportunity to buy when no one wants to invest, fear prevails, and everyone starts to worry about the price, then it will be a perfect opportunity to buy and sell.

So far we have not seen a correction of 80% and therefore it is difficult to rely on historical data.

No I don't have any "expert" calculations, and "expert" graphic analysis to prove anything. I merely have a pleb's guess based on Bitcoin's market cycles from 2012, which I believe are the same as the "expert" calculations made by the "expert analysts"in the forum.

Everyone will have their own opinion, no one is the same and this is your prediction. But what's different here is that bitcoin's past is different from its present. In 2017, most investors in bitcoin were retail traders like us. In 2021, bitcoin is invested by organizations and billionaires, becomes a payment method of many companies, is legally recognized in many countries, even legal tender.
This has not happened in the past, so it is highly unlikely that we will ever return to the long-term bearish of the market. But nothing is impossible.

henmark

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Quote from: Etranger on March 11, 2022, 03:58:48 AM

I doubt that patience is what you can attribute only to new investors. There are a lot of experienced ones, who are not patient at all, who are in rush for fast profits. In my opinion, a lot of newbies on the contrary, tend to listen to advice of those who have been in the market for a long time. They are new to this, whey are often mere afraid to loose money, because not everyone can recover after losses. That is why they tend to invest more accurately and safely, thinking about having some guaranties, even if the profit is smaller.

I would guess that there are more newbies who end up making bad decisions based on emotional trading versus the number on veterans. Doesn't mean that patience is something only lacking in newbies, but it is certainly a higher percentage in newbies than in veterans.

You do not have to always explain yourself in a sense on what the difference is each time, just generalization because you are just posting it on bitcointalk is fine. Veterans know that even though there is a chance of getting rich overnight, the bigger play is long term and you could make more money in crypto than anywhere else and get richer. That is the key point here as well.

Taskford

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Quote from: LastKiss on March 11, 2022, 06:25:13 AM

Quote from: Reid on March 10, 2022, 12:34:23 PM

Are new investors patient enough to wait that long? I doubt that. That's why they are mostly in the meme section.
They are mostly in a hurry to make that big profit like they are being chased by whoever they took the loan from. Banks or their friend.
I like the idea of that long term thing but there could be changes in the strategy midway or even as early as possible if the bull market starts showing.
Selling to accumulate more.

I can't say every new investor doesn't have the patience to wait that long because one of my friends just invested a lot using his cold money to BNB one month ago and he said he will hold it for around five years. But yeah most of them just want quick profit or quick big return, I have a brother who wants to learn how to trade but when I ask him why he want to trade he answered me because he want to earn quickly in a month. In the end, I won't guide him from trading because of his bad reason.

If we base it on our own experience as a new trader we cannot really say that we can wait for long especially when we see the market is having a bad run which affect the whole cryptocurrency and for sure we will also get drag by the emotions spreading on the market. But if we experience the major high and lows then most provably we can take those challenges then can able to wait for our set timeframe for our investment son some coins out there.

LastKiss

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Quote from: Reid on March 10, 2022, 12:34:23 PM

Are new investors patient enough to wait that long? I doubt that. That's why they are mostly in the meme section.
They are mostly in a hurry to make that big profit like they are being chased by whoever they took the loan from. Banks or their friend.
I like the idea of that long term thing but there could be changes in the strategy midway or even as early as possible if the bull market starts showing.
Selling to accumulate more.

I can't say every new investor doesn't have the patience to wait that long because one of my friends just invested a lot using his cold money to BNB one month ago and he said he will hold it for around five years. But yeah most of them just want quick profit or quick big return, I have a brother who wants to learn how to trade but when I ask him why he want to trade he answered me because he want to earn quickly in a month. In the end, I won't guide him from trading because of his bad reason.

Etranger

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Quote from: Reid on March 10, 2022, 12:34:23 PM

Are new investors patient enough to wait that long? I doubt that. That's why they are mostly in the meme section.
They are mostly in a hurry to make that big profit like they are being chased by whoever they took the loan from. Banks or their friend.
I like the idea of that long term thing but there could be changes in the strategy midway or even as early as possible if the bull market starts showing.
Selling to accumulate more.

I doubt that patience is what you can attribute only to new investors. There are a lot of experienced ones, who are not patient at all, who are in rush for fast profits. In my opinion, a lot of newbies on the contrary, tend to listen to advice of those who have been in the market for a long time. They are new to this, whey are often mere afraid to loose money, because not everyone can recover after losses. That is why they tend to invest more accurately and safely, thinking about having some guaranties, even if the profit is smaller.

stomachgrowls

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Quote from: Reid on March 10, 2022, 12:34:23 PM

Are new investors patient enough to wait that long? I doubt that. That's why they are mostly in the meme section.
They are mostly in a hurry to make that big profit like they are being chased by whoever they took the loan from. Banks or their friend.
I like the idea of that long term thing but there could be changes in the strategy midway or even as early as possible if the bull market starts showing.
Selling to accumulate more.

People are entirely different when it comes to various things from the way they do think until into their own personal perception and views towards things and on how they would make out some approach

to it thats why you couldnt really stop people on making out step even though it doesnt agree on our own principle and just giving out some advices isnt bad whether these fella's would
would tend to follow or would basically be still be going on what they do have in mind on the first place.

Reid

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Are new investors patient enough to wait that long? I doubt that. That's why they are mostly in the meme section.
They are mostly in a hurry to make that big profit like they are being chased by whoever they took the loan from. Banks or their friend.
I like the idea of that long term thing but there could be changes in the strategy midway or even as early as possible if the bull market starts showing.
Selling to accumulate more.

Topic: An advice for newbies and plebs - page 8. (Read 1617 times)