Don't buy altcoins because they are top altcoins - page 3.

Hypnosis00

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Quote from: Marykeller on April 11, 2023, 01:23:31 PM

Every investor should keep in mind the fact that "no cryptocurrency stays at the top forever." If you want to invest, buy popular coins with the intention of selling them or converting them to bitcoin when their value soars. But, never hodl it for longer than a year or two because anything can happen during that time (such as an altcoin losing its value or fading out totally), leaving you at a loss.

Top coins will always gain more interest than new projects and if ever there is a drop in its rank certainly means something and that is a trust issue.
However, people don't just keep tops coins forever, they'll sure try some experience in buying new coins to compare which is more profitable. In a few years from now, changes will come and it was not because of the tough market competition but it is because the mindset of the investors had also changed. What matters for them is profit, not rank as we can't deny that the new project is more profitable but yes, it is too risky as most of them are scams.

borovichok

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Quote from: Cornia on April 11, 2023, 04:53:10 AM

I totally agree with you that it is not right to invest in a coin just because it is the top altcoin. Because the top altcoins are constantly changing. For example, Litecoin was the top 3 coin during the 2017 bullrun. But we saw that LTC was ranked after 15 during the bullrun of 2020-21. Also other coins such as LUNA are no longer among the top coins. So research should be done before investing in any coin.

Top altcoins have made good bull runups in the past, it's just different to see the new developments in the market that have caused the crash of key projects. Litecoin is currently a dormant project with poor moves in the charts. I didn't make good profits from Litecoin or even the hype LUNA because I was keen on investing the real shitcoins in the market. Shiba Inu and GMT gave me the enormous profits I was looking for in the market, that was a gem bull season and a good time to strike the space with backups setups against altcoins. Anticipating complex research and reviews on altcoins before investing in it is quite amazing because there rewards are unmatched, compared to top altcoins.

judaspriest

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Quote from: gurunanakji777 on April 11, 2023, 02:54:08 AM

It's not just about the altcoin you buy, it also depends on when you buy and sell it. The market doesn't always provide profits, and smart investors sell in a timely manner without getting too greedy. If we consider the long-term prospects of the market, Bitcoin, Ethereum, BNB, and Polygon are the only ones that come to my mind, based on the current market conditions If you are a short-term trader, then there are plenty of options in altcoins.

That's what I think is important to determine in advance whether for the long term or short term,
of course if talking about the long term prospects the top coins you mentioned are the right choice and will be profitable,
What is certain is to do an analysis first and see market movements.

Marykeller

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There are thousands of altcoins in the cryptosphere, and any that didn't perform well enough to rise to the top will be replaced by another. The market is competitive.

I wouldn't be shocked if within a year or two, we start to notice new altcoins continuing to rank among the top altcoins, and some existing top altcoins will be nowhere to be found.

Every investor should keep in mind the fact that "no cryptocurrency stays at the top forever." If you want to invest, buy popular coins with the intention of selling them or converting them to bitcoin when their value soars. But, never hodl it for longer than a year or two because anything can happen during that time (such as an altcoin losing its value or fading out totally), leaving you at a loss.

ningrum

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Quote from: Cornia on April 11, 2023, 04:53:10 AM

I totally agree with you that it is not right to invest in a coin just because it is the top altcoin. Because the top altcoins are constantly changing. For example, Litecoin was the top 3 coin during the 2017 bullrun. But we saw that LTC was ranked after 15 during the bullrun of 2020-21. Also other coins such as LUNA are no longer among the top coins. So research should be done before investing in any coin.

there are lots of underated altcoins that you should buy, and indeed don't buy top altcoins like Ethereum or LTC,
look for potential altcoins at rank 200-500 if you are lucky then you will become a rich person in the next bullish season.

Cornia

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I totally agree with you that it is not right to invest in a coin just because it is the top altcoin. Because the top altcoins are constantly changing. For example, Litecoin was the top 3 coin during the 2017 bullrun. But we saw that LTC was ranked after 15 during the bullrun of 2020-21. Also other coins such as LUNA are no longer among the top coins. So research should be done before investing in any coin.

gurunanakji777

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It's not just about the altcoin you buy, it also depends on when you buy and sell it. The market doesn't always provide profits, and smart investors sell in a timely manner without getting too greedy. If we consider the long-term prospects of the market, Bitcoin, Ethereum, BNB, and Polygon are the only ones that come to my mind, based on the current market conditions If you are a short-term trader, then there are plenty of options in altcoins.

andriarto

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if you look at the OP list from year to year, it can be seen that bitcoin seems to be unshakable. and when we talk about altcoins, altcoins have a changing position, but since the arrival of ethereum in 2016, ethereum has immediately occupied number 2 on the coin marketcap and shifted xrp, so far ethereum is still the excellent altcoin for investing. if possible, don't invest in new altcoins or mid to lower boards, and of course it has to be short term, not for investing, because the level of risk is high

mich

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Well I must say if I am buying alt coins it is only top 10 coins on coinmarketcap. I just feel the more volume in a certain alt or project it is better for long term investment.
If there is more people putting their money into it, it gives me more confidence. This is also just less of risk compared to putting my money into a brand new project with no hype in it. More chance of pump and dump then investing in Etheruem or Doge or Caradno as a example.

errorcode99

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I think that's a lame excuse just because some coins crash doesn't mean others will crash, it's also the utility coins offered by the platform behind them, other coins like ETH and BTC are definitely different from these coins, moreover there are some good exchanges of coins like BNB which reveals how they manage their funds therefore in my opinion investing in this coin is still doing pretty well even now.

fvb

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I don’t know about project Q tokens, but I’m familiar with SUI and Lamina1. Particularly optimistic about SUI. At the moment, of course, it’s still damp and transactions take a very long time, but I think everything will be finalized in the future.

RussianEnglishTranslation

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Nice post OP. I think that we will see new blockchains like SUI, Q, and Lamina1 in the top 10 for the next cycle. Q for example is a new EVM compatible blockchain with innovative features never seen before in crypto. Consensus is managed by Root Nodes that enforce a legally binding constitution on validators, arbitrate edge cases and slash validators not abiding by the constitution. A DAO and a series of DeFi DApps are built directly into the protocol and can be accessed from https://HQ.Q.org. Gas fees expended when using the built in DApps are redistributed to Q token holders. Integrated staking and gnosis vault. Built in DApps include synthetic assets, lending/borrowing, and a DEX. The protocol also has an integrated zkSNARKs identity system called Q ID, which is suitable for enterprise and government use cases (voting, government ID, compliance). Q has not been listed on an exchange yet, so you are early. Head over to Zealy and you can get Q by performing simple tasks like retweeting posts. SUI is also a big name project with developers from Facebook's DIEM project. Their DAG can do over 150k TPS. Both of these protocols belong in the top 10 compared to BNB and Cardano.

nur rochid

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Quote from: Ozero on April 09, 2023, 01:45:00 AM

Quote from: KennyR on January 07, 2023, 06:06:55 PM

Altcoins are good investment with increased risk, because of many incidents happening negative with the altcoins. We don't know whether the growth will last for longer time period or not. Most of the altcoins market crash happens out of the lack of development or out of the improper fund handling. With altcoins it is good to keep it for short term profiting as well as into trading.

Still, it is better to invest in top altcoins than in others, especially in meme coins. An example of top altcoins, which are almost always in price, is ethereum. It is safe to invest in this top coin for a long period. Of course, but not a single cryptocurrency is immune from periodic price losses, especially if this movement reflects the general direction of the market. Top altcoins are much safer than others, but you always need to be interested in the prospects for the development of a coin or token in order to make the right decisions in time.

besides that by choosing the top altcoins we can get bigger and relatively safer profits. although the safest investment remains in bitcoin. many people are tempted to invest in cryptocurrencies, but they don't understand it, so in the end people like this are the ones who lose money later because usually they will get panic attacks, so they are not wise in determining their attitude

Ozero

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Quote from: KennyR on January 07, 2023, 06:06:55 PM

Altcoins are good investment with increased risk, because of many incidents happening negative with the altcoins. We don't know whether the growth will last for longer time period or not. Most of the altcoins market crash happens out of the lack of development or out of the improper fund handling. With altcoins it is good to keep it for short term profiting as well as into trading.

Still, it is better to invest in top altcoins than in others, especially in meme coins. An example of top altcoins, which are almost always in price, is ethereum. It is safe to invest in this top coin for a long period. Of course, but not a single cryptocurrency is immune from periodic price losses, especially if this movement reflects the general direction of the market. Top altcoins are much safer than others, but you always need to be interested in the prospects for the development of a coin or token in order to make the right decisions in time.

RAppleby

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Bitcoin is a long-term holding option. If you want to make considerable profits in the short term, you still have to choose altcoins. Although there are many worthless coins in the altcoin, the top of the list is still the target of my choice. If you buy unknown altcoins, your funds may become "tuition fees", and it may disappear overnight.

abel1337

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Quote from: seleme on January 16, 2023, 04:50:17 PM

Nice analysis but let's don't forget market cycles. The more you make research you dicvover it is not only about the specific project but more about the general market nature. Market works with cycles and you have be in right project at the right time. Otherwise, the great project can't even hit 2x of your initial investment during bear market cycle.

Quote from: Natalim on January 16, 2023, 04:45:58 PM

Quote from: virasisog on January 12, 2023, 01:27:26 PM

There are reasons why top coins are on top. They might be on trend or hype, they have a huge potential or they are going along with the movement of Bitcoin. So being on top isn't a reason enough for us to stick on them but rather do a research about their potential first for us to avoid confusions. We must know the capability of top coins as well as their reputation. There arw coins that could be on top in just a short period of time and would lose their value later on so we must be very careful.

But for me, the rank determines the potentiality and market capability of a certain project. It is usually based on the market demand but I agree about doing more research as holding them long-term, it was better to have the assurance that this project will last longer than those in hyped projects. It is really a big mistake from jumping into the crypto without doing any research but if we just invest in Ethereum and BNB, it is something we don't need anymore.

There were top 40 altcoins that can't be even found today's top 1000 CMC list. The reason is simple, without excuses it doesn't worth to invest and many investors have decided to choose alternative projects instead of doing same pump/dump on same coin,IMHO.

Project tends to evolve and older projects are being affected given that new project has new technology in it that leave old projects behind especially if new projects are on trend. People like joining the trend and we can see how powerful joining the trend is last bull market. Even shittiest coins where pumped last bull market because they have the trend qualities. People flocked and taken the chance to ride the trend by joining these projects but yeah end up on a bad situation. Trendy projects tends to enter the top CMC list but after a while going down after it's volume decrease when the hype is fading.

seleme

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Nice analysis but let's don't forget market cycles. The more you make research you dicvover it is not only about the specific project but more about the general market nature. Market works with cycles and you have be in right project at the right time. Otherwise, the great project can't even hit 2x of your initial investment during bear market cycle.

Quote from: Natalim on January 16, 2023, 04:45:58 PM

Quote from: virasisog on January 12, 2023, 01:27:26 PM

There are reasons why top coins are on top. They might be on trend or hype, they have a huge potential or they are going along with the movement of Bitcoin. So being on top isn't a reason enough for us to stick on them but rather do a research about their potential first for us to avoid confusions. We must know the capability of top coins as well as their reputation. There arw coins that could be on top in just a short period of time and would lose their value later on so we must be very careful.

But for me, the rank determines the potentiality and market capability of a certain project. It is usually based on the market demand but I agree about doing more research as holding them long-term, it was better to have the assurance that this project will last longer than those in hyped projects. It is really a big mistake from jumping into the crypto without doing any research but if we just invest in Ethereum and BNB, it is something we don't need anymore.

There were top 40 altcoins that can't be even found today's top 1000 CMC list. The reason is simple, without excuses it doesn't worth to invest and many investors have decided to choose alternative projects instead of doing same pump/dump on same coin,IMHO.

Natalim

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Quote from: virasisog on January 12, 2023, 01:27:26 PM

There are reasons why top coins are on top. They might be on trend or hype, they have a huge potential or they are going along with the movement of Bitcoin. So being on top isn't a reason enough for us to stick on them but rather do a research about their potential first for us to avoid confusions. We must know the capability of top coins as well as their reputation. There arw coins that could be on top in just a short period of time and would lose their value later on so we must be very careful.

But for me, the rank determines the potentiality and market capability of a certain project. It is usually based on the market demand but I agree about doing more research as holding them long-term, it was better to have the assurance that this project will last longer than those in hyped projects. It is really a big mistake from jumping into the crypto without doing any research but if we just invest in Ethereum and BNB, it is something we don't need anymore.

Desmong

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Mist of the top coins we are seeing could easily be dumped anytime and the money would be used to buy another new altcoins. Mist of these top coins we are seeing now can be easily dumped and left so we need to be very careful and make sure that we buy and be aware of dumping so in case anything happens after we start holding.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: isaac_clarke22 on January 12, 2023, 02:04:15 PM

I see a lot of meme coins being posted by some random usernames here in the forum that it will indeed replace {insert meme coins or Bitcoin} in the future, but just faded out of existence.

Anybody can create a shitcoin be it a vaporware, shittoken or a memecoin (

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Only thing that holds investor from buying top coins would be the price and that's understandable on why they settle for coins in the lower rank, but come on, why would some even bother to a copy-pasta coins in the market? Cheesy

Settling for lower coins is often a method to "quickly finish it off" but we have been in the market for long and we understand that it is better to rather hold the fiat for buying bitcoin than spend it on buying shitcoins. The second options always leads to less than break-even during selling.

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And yeah, spare money are better off in a better sectors like you mentioned. I already had my worst experience back in 2017-2018.

We all have had our share of experiences but not everyone will understand that.

Topic: Don't buy altcoins because they are top altcoins - page 3. (Read 1419 times)