Topic: Bitcoin or Altcoin hold, sell or trade?? - page 9. (Read 1104 times)

This is really wide subject to understand and adopt the skills for. Yes, skills are needed when you are in the crypto market. You can not just go into the market and enjoy the profits or be proud about it in the long run. The market as such is not easy stuff, you need to understand how it works. Those three pillars which you have mentioned above (Hodl, Sell, Trade) needs to be percolated deep down your veins to play around them.

Here is glimpse of my experience:

When I started the crypto I was doing my part time job and used to here about the crypto and specifically bitcoin from the staff around me as well as our clients that used hit the bar. Interestingly, there were people who used to talk only negative stuff about it and it was completely understandable at the time since there was not much of the wallets, no way to transfer bitcoin as quickly as we do today and all those issues.

But, in the crowd there is always someone who will give you that life turning lesson and if you keep following it then it can make amazing impression. For example, one of the group, sort of nerdy looking at their appearance and talks, were very much interested in the bitcoin and used to talk how bitcoin is going in the right direction. It is all about the time they said and made me think "should I get on the train? or should I regret about it later?"
Obviously I chose to invest a bit of my salary on bitcoin. Got it with localbitcoins and gave me cool feeling of owning my first ever bitcoin (something ~100 bucks worth initially and then later kept buying to reach 3K USD). Then came the year 2017, when bitcoin went off the chart window and way above sky, turning my investment radically high throughput.

I think that was the day or period when I understood importance of hodling bitcoin.

Next up, I sold most of the coins since it was good money for me and market was really volatile. I kept small portion in the bitcoin itself but soon after that hot wave turned down and we saw enormous downfall of the bitcoin That day, I realised selling at right time and when you have the opportunity, you should just take it. Moreover, I sold in FOMO condition and I never waited for my BEP to hit again. That was my lesson, if you want to hodl then you need to have god level patience within you.

Anyways, as far as trading concerned I do it for the trusted coins only and that too long term trades strictly.  I tried intraday, believe me it was horrible mistake and was not my type.

So whenever we are on the crypto market let us know about our own limits and interests.

If you are going to do anything here, then asses yourself and what you want basically. With the time things are going to get clear as you hodl and trade.

Dear fellows pretty much agreed with your point. As OP considers BTC as the saving mode. Op is not sure about the savings type is it temporary or long run sometimes we save money for temporary times to use when needed then bro i am in doubt that OPs considering BTC as a saving mode is not good. The reason is simply it feels risky because money is important on needed time for OP what if the market drops by massive value then OP would have no choice except the Selling at Loss.

DCA is good for the Long RUN if you want to draw results from a short period of time then DCA might not be good for you.

You can go for bitcoin, but also you can go for altcoins. The problem is that you need to understand the market, but not only understanding the market that only matters, also understanding the coins to go for also matters. You can check the for good coins with good marketcap and go for them. If you buy today, the first think can be unrealized losses, never mind it, continue to hold and later you will be happy as long as there was a long bear market that almost seem like the crypto market will cease to exist which occur in 2022. Look for good coins to buy and later you will gain, but you will hold for long time.

for the long term, never to think about owning a lot of altcoins, it will lead you to investment losses. only believe in Bitcoin for the long term. and the decision to sell or hold it I think it all depends on your satisfaction. sell when you're satisfied, and you won't feel doubted when the price pumps higher. although sometimes it's disappointed that it didn't hold longer, but sometimes if you speculate for longer in the hand, you will actually miss it and head for a downtrend.
when you are profitable, and you feel satisfied, never regret your decision. start learning to accept the situation.

I can relate to this before. And this is the most lesson I am very amazed and adapted.
It's simple, don't marry your altcoins, if you can notice most of the altcoins in the past are just temporary, and in most of the cycles there are new altcoins that are on the top or popping and after that, during a bear market, most of these altcoins vanished. Only a few are left on the top or in the game.
I will rather be in Ethereum and Bitcoin than in other altcoins that are only here for hype.

I think buy low method is still working. If we bought at a discounted price but the price went below at your buying price, you should consider it as a opportunity because it's still a discount of discount. Everytime the price goes below the buying price, we should buy more.

You also have not to be a weak hand, when you are just buying Bitcoin or Altcoins in spot, you should not sold your tokens until you gain profit this. Spot is different from futures trading, you can hold it as much as possible cause there's no liquidation and you will lose if you sell it below the buying price.

Well, there's no perfect way to do it for the first time. That's the lesson will come after you make a mistakes but if OP would be lucky he might not lost too much on a single try. Doing DCA on a bear market helps you a lot during the bull run since all of what you have had collected will rise in value. But I'll make sure that it's the right coin and not the shit coins somewhere that wouldn't have a value in long term.

Choose your investment wisely whether it's Bitcoin or altcoins but I'd rather choose to diversify my investment.

The strategy might seem to be easy upon explanation or when being told in detail. But when you're actually doing it, you might feel anxious and have some fear.
You may not actually look at that price point of selling because you might feel that it's quite low and you want to wait for some more. And then, later on you'll miss the chance of selling and that's why it's sometimes hard to predict and get the right time to buy and sell and on this case, DCA really is the thing to do.

Don't always dwell on this because it is not always the fact but other people have also assumed it the same way like you. It is just a coincidence that after you bought a coin then you notice it went down, nothing as if it was planned that happened but only that price movements is the reason. At some times also you see the price going your direction when you take an order. You can check your indicators properly to be sure of your direction and not just to gamble on price direction without proper chart analysis.

Hold with Bitcoin and trade with Altcoins.
This has been my strategy and so far it works, you should also consider the market condition before you create your strategy and before you execute your trade. Don’t just see the market blindly, see every opportunity and do what is right. The market is too big, there’s a lot of opportunity here to make profit even on a bear market. Hold, buy and sell, whatever you prefer just make sure you are ready for the risk.

^For altcoins sell, for BTC hold.
I never hold altcoins for a long period of time, they usually went down if there is no hype that happens. We know altcoins will usually have a massive price increase when it will be hyped. But later on, the price will drop, not like BTC, it is the safest investment. Trading in altcoins is very risky, it needs knowledge of it and good strategies, if you don't have these, get ready to face failure and losses. I rather go for DCA way of buying BTC and hold into my wallet.

In my experience most altcoins' price went down on long term. Some (very)few(!!!) altcoins can be interesting on short/medium term, but you have to be extremely careful/vigilent and find a good moment to leave them and convert to bitcoin (as newbie it's safer to just sell and never look back).
Bitcoin is just perfect. It has never disappointed me. However, you may want to DCA to not get caught by the price fluctuations.

And I will add something more, since you're newbie:
* don't keep too much money for too long at centralized exchanges (make sure you're aware of the withdrawal fees though), in case you use them
* make sure you understand how to keep safely your coins (consider hardware wallet) and your backup seed words

It is hard to read, but I think I understood what you are trying to say. Basically, the market movements could be predicted through some technical analysis. You can predict the future of one crypto if you look at the price chart and see what it has been doing. What kind of formation is it making from a past chart data. To simply put it, you need to do some research on its past price candle behavior in order to know the future where it will go next.
As you are a newbie, I don't think you understand that too much. That's why you bought and the market fall. Same thing happened for the sell too. Although the market prediction could never be a 100% accurate, but you can get an idea and act accordingly.
Altcoins are just centralized shit if you ask me. They are controlled by people. Anything could happen to them at any time. So it is the best option to avoid them and focus mostly on Bitcoin as it is totally decentralized means it's not controlled by anyone, and you can keep your privacy safe.

As you are a newbie, I suggest you to HODL for now if you have invested already. But only Bitcoins and not all those crappy alts. It is not appropriate for me to give out advice to you, but that's all I can say. Keep HODLing and learn the basics and move towards the advance learning too. That way, when the bull run hits the market, you will have enough experience and knowledge with a lot of assets to start your trade.
But first, focus on DCA. It's dollar cost averaging. Learn about it and be sure to make a good use of it.

You need to learn HODL, sell and trade all together if you want to make a fortune in crypto world. Cheers.

To understand how the market works and which coins to buy requires knowledge and experience that you do not have. It can definitely be said that trading is not for you and you have to accept it, otherwise you will continue to lose money. You need to retrain from a trader to a long-term investor. In this case, buy a time-tested bitcoin and do not mess with shitcoins.

My opinion, Bitcoin all time saving mode is the best way. Some time when bitcoin price up then sell and when price down then buy is the best decision.  This method all time not working for trade. Many time i noticed when i sell bitcoin or altcoin sell since then price grow up and up. And when I buy bitcoin or altcoin then price low day by day. specialy, altcoin hold, sell and trade big loss. 4 years ago few coins i hold for future. now this coin price few value or most of coin value is zero. Few coin trade, there too big loss. past year in the case of 1 coin invest $1000, this coin price today zero.

Now

*Hold
*Sell
*Trade
Looking forward to the opinion of the experienced.