Topic: At what point do you sell your altcoins? (Read 820 times)

I believe in cashing out at the peak.
We got the vibe when it is PEAK n after the drop down, it's not gonna touch any specific point again.

again - some are traders, some are hodlers & some are collectors. All may have diff parametre.

It is necessary to follow the period for altcoins. A few years ago, Metaverse projects were popular and related altcoins rose a lot. Right now, all of them have calmed down. Similarly, NFT projects were popular for a while and they were preferred. There was a period when DeFi projects were also popular. I think that artificial intelligence projects will be popular and increase in the next bull period. I have already started to collect some altcoins slowly. Of course, any altcoin can be sold if its price increases to the level we want. In my opinion, the only ones that should be held in the long term are Bitcoin and Ethereum.

What you said is true, for me I see altcoin as a short-term investment, no matter how good altcoins pump during bull run they can never be compared with Bitcoin, lets not forget that there is every possibility that highly speculative coin has the tendency of pumping and dumping fast, we all know that altcoins are highly speculative as such investing in altcoin requires a high level of carefulness, as an investor, risk management should be your utmost concern, I don't think that it will be wise to take uncalculated risk because of the feeling that a particular coin may pump due to the hype given to it by the so called influencers, before making some move due to this fact, we should know that influencers are paid for their work done and whatever comes after does not really matter to them.
Know doubt altcoin can make people rich within a short intervals but the problem is knowing the particularly one that can do that, my major problem with altcoin is that no matter how good you think you know crypto, you can not invest in altcoin and feel free, there must be a little fear because of the unforseen circumstance.

Bitcoin is one in a million because it has the ability to make your money more valuable in the future but pump and dump coins can not give you such futuristic concept.

Once the bullish season appear in the market, I will begin to make some plans on how to release all the altcoins am holding at the moment, because they don't stay long like the way Bitcoin use to stay long in the market before it will decrease down for investors to purchase and hold again. It will be difficult for investors to hold altcoins when the bullish season is on ground, but you can only seen beginners holding altcoins like one or two years, because they don't have the knowledge of altcoins before they started holding it.  Ethereum and Solana are the remaining altcoins am holding right now which I know that I will release them for sale before the end of this year, because the price will definitely increase for altcoins investors to experience passive income soon.

Yeah, that was a hell of a ride but that is only just a beginning like you said and there's still more to come from it. Sometimes, it's okay to have a break for a while. It helps us to unwind and then be ready again for another bumpy ride. Indeed that for those who come this far, they shouldn't waste the opportunity but they can just wait a little more and for sure their efforts will get compensated later on. They will get proud of their selves and say that 'Phew ! Good thing I didn't give up' .

It is seems that you bought a lot during those years and it's not just a normal market condition when you bought your coins but it is when there is a bear. You have a good reason to take a rest for a while or until you sold all or most of your coins for profit during the peak of this bull run. It's nice to know that in crypto, there is more than just earning a profit but it can also teach us a lot of things and one of it is like you said, that it can test our patience. The good thing is that we can apply it in other aspects of our lives.

Anyways, it doesn't mean that when we are involved here, we will now only focus here. There is no such rule as that but just like the tagline of cryptos and Bitcoin which was 'freedom', we are still free to roam outside if that can make things more easier for us.

Anyone who's very knowledgeable about Cryptocurrency should know that Bitcoin is second to none and can be more rewarding if one invest heavily on it, I like the fact that you acknowledged that. It shouldn't be compared to an Alt in terms of investment worthiness but then due to some reasons people could still fall back to Alts for investment, well everyone has their choice of assets to invest on but then investing on profitable assets is what matters. In general why many people couldn't invest on Bitcoin is because of it's market value, and would rather invest on Alts that could give them 5x with the low budget funds they've got well it's not a bad idea since some Alts have shown good prospects over time however investing in the right asset is all that matters else the investor might be among those who think crypto is a scam. Well, it's nobody's fault that they couldn't afford to buy and hodl Bitcoin, use the dca method or even invest on (good working Alts) like you stated.

Priority matters my friend. I'm not sure the kind of profit an altcoin can give you Bitcoin will be able to give you such in anytime soon. I mean, will be a quick fix to make 5x on good working altcoins than for you to make that from Bitcoin, that's like making Bitcoin cross above $200k on the market but altcoin can make this happen under some days just that the risk in altcoins are not worth it sometimes but if you invest in good altcoins, you will only worry less about altcoins.

Bitcoin to me right now is capital requirement, you can't get enjoy the versatility in altcoin and Bitcoin. The money you need to make more money in Bitcoin is quite large, though if I personally has the money, I will pick Bitcoin before any other altcoins because it tend to give more yield on the bigger side if you have the power to hold onto 1 full BTC or even more.

As far as altcoin and any asset is concerned seling at any point is a personal decision but lets be sincere every investor  would want to sell when he or she is comfortable and satisfied with the profit have made so far, in other way round, some people invest in altcoin for diversification sake and once their expecation are not in accordance with the results seen, they pull out immediately irrespective of profit made, the thing is that, it also depends on the coin involved, we can't confidently say that we know the particular coin that will pump tomorrow, no matter how good we are in crypto business these pumps and dumps just happens and it takes perseverance and patients to keep holding altcoin, to me,  once there is a little pump in altcoin that I acquired I will pull out the profit and reinvest my capital to avoid total depreciation or lost of my asset as the case may be, the major reason why I will take  the aforementioned decision is because altcoins are not fully trusted although not all of them but dealings with altcoins should be cautiously and carefully done unless as an investor you are convinced beyond reasonable doubt.

In fact, to invest in Bitcoin, you need to plan to hold it for the long term. If you plan to hold until the coming bullrun you can make 2x profit, but it is not guaranteed that you will get 2x profit, maybe less but investing in Bitcoin is very low risk.

Not that the price of bitcoin will not increase in the future, hopefully the price of bitcoin will be more than $1 million dollars in the future, but you need to hold for a long time. Now if you are an ordinary working person then you can invest in Bitcoin in DCA method according to your ability, which at some point in future the investment amount will be big and you can earn a lot of profit.

It's not guaranteed to get 10-20x profit from altcoins in 6-12 months, yes, if you're lucky you can get more profit because you have to take a lot of risk. However, I think it would be wrong to expect 50x profit.

Everyone's plan is unique, your plan will not match mine. I have invested in a few altcoins and will not hold the altcoins for long, will sell in the upcoming bullrun. I will sell when I see 2x profit.

That is to say that based on the current price of Bitcoin, investing on it is not only for the rich, someone that's not very wealthy can also invest in it, all the person just got to do is come up with methods of investment plan, and for some that falls under such category or a person who doesn't tolerate risk, the dca method is not a bad idea cause the salary earner could invest in bits over time regardless of price and still benefit hugely when a massive bull season comes. Well Bitcoin is by far the best asset for invest but their are still some Alts one could invest on in a short-term period and make profits, not all are pump and dumps moreover the growth of Eth has shown that it could be an asset for long-term investment plan and since the dca method is mostly best for long-term plans I think using the dca method for it is not a bad idea if an investor got spare money.

And it's not like it's uncommon or that best tech would even win. We have history full of cases where inferior tech wins (like VHS vs Betamax), or stolen tech gets credited by someone with more influence and money behind them. And since it's probably open source tech that will replace SWIFT (if it even gets replaced), it wouldn't need some private company like ripple to deal with. Because governments don't want to give private companies too much power over their monetary system.

And i know that we are used to the way of coins being the incentive to secure the chain, but i am not sure if that's the only way. It's just the only way we know for now.

If you are a normal person with a working life and salary, you should definitely go for the dca method. Like you said, bitcoin can be life changing if you already have a lot of money to invest in bitcoin since bitcoin is just too expensive.

But this should not discourage people from investing in bitcoin. I would rather slowly but constantly invest in bitcoin than dump a huge amount of money into an altcoin I have no guarantee of making profits.

Diversification is key, among others, I agree. Been there, and many threads talk about it or forget it, but this factor is still here. More good projects mean more good chances to get something out of them. You just need to put big bucks into all of them, or better yet - just put small sums in all of them and see how it goes, even if the profit wouldn't be - that - big, it would be great in the long run, in my opinion.

Yes it is risky, but what is someone going to do now just invest in Bitcoin and get a 2x for the rest of this bull run?

Hardly life changing is it. Its ok if you have big money but not if you are a normal person with normal working life and salary.

You can get 10-20x easy in altcoins in the next 6-12 months, some will do 50x if your lucky.

Yes some will go to zero but as long as you are diverse then you will not lose all your money and more likely make a good amount overall.

Then again, you usually don't know what will happen next, so selling and buying in portions is a good way to go, with money you are willing to spend. Especially if it's done like you, very early and trusting the project you are ready to invest your time and effort in (for months or years).

Investing in altcoins is risky. I don't know which altcoins you invested in. You should not expect much profit, if you expect much profit then you may face losses. In my opinion if you see 4-5x profit from altcoins in the upcoming Bullrun, it will be wise to take profit. Everyone's plan is not the same, everyone has different plans. But don't expect extra profit.

50x is not that difficult if you get in early.

I got in Kaspa at $0.02 last year and sold it by $0.12 - i didn't have a big amount. The price is currently $0.20 but i think it will get close to $1 this bull run so that would have been a 50x had I just held. That was my first and only mistake when it comes to selling too early.

I am currently in an altcoin called Arcblock, got in last year at $0.13 and it hit all time high in May of $4.65 - that gave me a 35x.

It sounds like you are more the trader type which is fine, but I am the buy low, wait many months and sell high type. And in doing this, that is when you can see the big returns.

Innovation doesn't wait, it pushes the boundaries. Those who forget it usually are lost in time, and others take their place.

Something tells me that by the time XRP completely solves their issues with SEC, another project will already replace SWIFT or find a way to work parallel with it, offering the same services as XRP. That is why I will be happy to sell my XRP when sell price reaches my buy price. I have lost all the hopes to earn with that my XRP investment. I can go with trading and reselling/rebuying to minimize losses, but it will take a lot of time and nerves to do that.

For me, 10x is even too much, 3-4x - great, 10 - is overkill, because you can easily spoil everything and lose your profit. But I trade in spot, so, the moves here should be slower, and they are safer.