Topic: Buying alt coins has been a bad investment for the past 6 months, what to do? (Read 147 times)

Exactly same thing happened with me but in opposite way . Actually I made a loan from my bank but due to force from the bank over my family , I forcely sold my bitcoin to fill loan but unfortunately after 20 days bitcoin started to pump and the amount of bitcoin get turned 4 times that what was earlier , so in that way I lost a big Amount of money .
After that I tried my luck with bulk investment in altcoins but unfortunately the market of altcoins getted crash much much and much and finally I was with entrer amount of value in fiat but in actual I lost my bitcoin by 60% in these both ways , so here I can say that I lost my Money whole in 1.5 months much .
But still I am happy to know that bitcoin will give me profit if I can hold it for 2-3 years and I will be millionaire easily .

I'm in the same boat. all of my alts are valued way less in terms of BTC, but in terms of USD they're aren't that down. some of my alts are -80% in BTC value. i'm not willing to sell my alts at their current prices, i'll just hold and wait for them to recover.

I'm new here and after doing all the reading I did(4-5 days of constant reading articles AND THE COMMENTS!) it seems alt coins are more reserved for day trading(buy/sell) and get out and put it back into BTC and then do it all over the next day. Buying on the lows and selling when you feel comfortable with the rise or if you see it start to dip get out and wait for the drop, buy it again or move on to another alt coin repeat and rinse. while some people complain about the % rate for crypto its nothing compared to the stock market and usually you can only day trade with a serious amount of money in order to have unlimited amount of trades on the stock market and of course the fees are still high so that makes you have to take more risk to gain that dollar or two before you sell. I dunno maybe I'm incorrect. thats my take on alt coins

It also seems you can day trade with LTC- BTC or ETH but def need decent money for any substantial gains. Although I have looked into the buy sell fees I know there is a conversion fee to and I'm not sure I know exactly what it is or how it is calculated but def need to figure that out so i can calculate profits and not make a stupid move and lose when I thought I gained after transfer and buy sell fees. care to shed any light on that?

Buying of Altcoin almost all coins are not profitable. But can make you profit for a long period of times. And you will get more than 1000%. But if you earn a short-term profit you should be a little bit of analytic. You have to make a Demand & supply analysis and prediction of price for this.

I believe April and May were the best times to buy altcoins, depending on the altcoin, but they should have been sold for Bitcoin after their 10x pumps.

This brings me to two questions.

1. What altcoins are you holding?
2. How much are you down in Bitcoin?

If your Bitcoin losses are small, you can still trade them back and hold Bitcoin. But if not, sorry, it is better to wait for altcoins to pump.


 

if i remember it correctly you're buying an altcoin when it's on its peak right ?
of course your strategy will faill because that position is not fit for you to execute your orders.
and what thing that you need to do in the future ?
if you do not sell it yet,i advice you to keep it or hold it for a few months later on.
because Bitcoin run will stop until we're reaching another news in Q1 2018 ( if it's a real news not a fake one ).
this run will not last forever because they need a time to stabilize their position and accumating the coins.
in other words,after this movement there will be another movement that will happen with an altcoin.
usually we will see it every early new year,just like we did a few years ago.

I think if you are an investor for couples years later in alternative coins, you should hold this position but if you are looking for active income from trading alternative coins you should do cut lost, usually i made investment in alternative coins was just for short taking profit, i don't hold for couples months except investment in the ICOs program. I hold the bitcoin is for long term investment, so back to your self, what's the purpose of investment in digital coins short or long term investment because i don't know about it.

Do not hold a huge amount of alts indeed.
These few days we're seeing alts regaining some grounds but I believe this will just be temporary. especially when btc goes up or goes down, alt always lose

Altcoins had a bad time several months ago. But a few of them has been showing good promise lately such as Litecoin, Ethereum, Iota, and Waves. In the past few days Ripple has also started to pump.

yes, stop holding altcoins. => problem solved!

you see, altcoins are best as a short term investment. for example if you check the charts you can see in the past couple of days Litecoin (just an example) went up a lot in a short time (nearly 3 days) then stopped and now it is slowly going down a little.

what you need to do is to invest in that altcoin at the beginning of the rise (start of the 3 days rise) then sell when the rise was over or when you reach the profit you want.

Yeah altcoins will do that. They just aren't valuable and are 100% speculative. Bitcoin is the only worthwhile coin with a real value IMO. Maybe some alts compete, but being the first and having the most developers is definitely a massive plus for bitcoin.

If you are newbie traders than it is always advised to just buy bitcoin and hold it for next few months or years, you will get more than what you could by investing in different alts.

But it is also true that you can make lots of money if you can buy and sell alts for profit and always try to increase your bitcoin holding with every trade. Only buy alts when they are dumped and buy them with fiat not with bitcoin 

In april / may i bought several alt coins and virtually "closed" my portfolio, as i had small positions in sectors i believe

6 months later, this strategy has proved to be a total fail, value in USD has increased but value in BTC has dramatically decreased and i could have earned so much more by just investing in BTC

Any of you guys in the same situation? advices? what's your strategy?