DONT MARRY YOUR ALTCOIN BAGS - page 11.

coin-investor

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Quote from: Gibreil on June 16, 2020, 06:46:38 PM

Bitcoin = Long term holding
Altcoins = Short term trading

I'm like that only Bitcoin and Ethereum deserves to be in long term holding, you should not marry or holdl your altcoin long enough, once you realized your profit, once you realized your profit tried to sell some of it if the coin is doing good follow it if it deserves to still be part of your portfolio.

JHORN

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You can't keep some altcoins for long term or don't bother investing on such altcoins, if you hold exchanges tokens like BNB or top altcoins like Ethereum you have nothing to worry about because these coins have good future but still always take profit when they surge very high and buy back when they drop in price

Towerbreeze

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I've learned the hard way investing and mining altcoins, there is one thing Ive learned so far, don't always plan to hold your altcoins when they have already doubled or triple in value, take your profit or swap to stable coin, price don't always surge forever

Paycoinzzz

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I understand your views on trading altcoins. It is actually quite effective for the crypto market. We all know that whales like to make waves and it won't be easy for coins to grow uncontrollably. Besides, the alts here do not behave like businesses in real life, so holding for many years will be an unwise decision. in this crypto market we should only speculate, profit, we just sell and run out. That's the way we can make the most money.

WalkerIVIV

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Quote from: Greatdev on June 17, 2020, 01:25:22 AM

I believe it's greed that makes people hold on to a coin even when there is enough gains for them already, always learn to take profit because price crash is certain and not all coins will survive for long

The greed is also making so many people were loosing their money to the whales. It's better to any holders to take a point to sell their tokens. So many altcoin holders were holding their coin for a very long time.

Saisher

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Every one of us here has lessons about altcoins they are holding, and most of these are unpleasant, I minimized holdings of these altcoins, there are no guaranties that you can make profit here compare if you are holding those top coins in the market, people are very much attracted to new coins with good potential but it will not translate easily because of the tough competition in the market.

Greatdev

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I believe it's greed that makes people hold on to a coin even when there is enough gains for them already, always learn to take profit because price crash is certain and not all coins will survive for long

ProfWigSlipper

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Some established alcoins are great investments and repeatedly rise with a bigger % than BTC over the same time frame.
If BTC is my "first wife", then is Polygamy allowed? Tongue

Farma

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because of this, bitcoin is always the first choice to be arrested because it has a risk that is not so big. for example, if the price of bitcoin goes down, this affects the price of altcoin whether it's a big or small dump. it's just that, I will not save all the assets that I have in bitcoin. I might put a few percents of the assets I have on top altcoin. I think, almost everyone has felt the same way.

bgaf

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I think everyone has their own story to tell. But OP you got a point on telling us never focus on such coins/tokens that might could end up nothing in the end. Altcoins can give us plenty of profit and gains once we knew which one is good to put our hard earned money.

So far the one we could trust at least is bitcoin and some altcoin in the top markets. I agree that many of you here have the same sentiment towards holding and got rekt when the market crash like hell but we must not repeat those mistakes.

Febo

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Quote from: MrMojoRising26 on June 16, 2020, 02:45:35 PM

altcoins are great for flipping for more btc but dont every marry a coin. When btc goes on a run past all time highs you dont want to be bagholding ALTS. You will watch them get crushed. I personally was bagholding alts from 4k-20K and they got demolished I even had friends saying man you must be doing well with those bitcoins you have Cheesy

In the end alts went nuts and I did well but If I would have waited till BTC topped out I would have made more. So moral of the story there is dont marry a coin/project they and watch your btc shrink get in and get out after you make decent profits. Sure sometimes you can buy an alt an maybe 10x-100x on it bagholding, but there is 1000s of coins out there that wont make those type of gains. Anyway do whats best for you but dont be that guy married to a bag watching btc head to 50-100k or whatever the top might be

The moral of this story is that you will never be able to sell any of your alt coin at max and buy it at minimum. Ever. If you will bother about it you will just get crazy. Simply buy alt coin with a reason and then after some period of time check if that reason for those coins still stands. Do not bother with its price.

kawetsriyanto

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A few years ago, altcoins had high hopes. However, getting here is increasingly concerning. Not intending to look down on altcoins, but indeed most of the altcoins are not too worthy to keep for. It might be true as you said that don't marry altcoins, or you will get hurt more often.
Marrying altcoins (especially new altcoins) can mean that you are risking part of your life in uncertainty, get a high risk, and there is a possibility to turn off your steps. Some new altcoins have even died before they listed on an exchange. Or even they have a volume of "ZERO" when they are on the exchange. Isn't this painful?

Therefore, focusing on Bitcoin and Ethereum became my way of life in this crypto world. Grin

Botnake

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Good advise though, I've been married with different kind of altcoins almost 4 years already, lol..
I would say I'm a bag holder of some shitcoins now but despite of that, I can still proudly say that I made a decent profit of selling some during the last bull run.

It's a gamble when holding, but as long as we know how to diversify, I guess we will still end up with a good profit.
Now, though the chance is very low to sell my altcoins, but I'm waiting for the 2nd bull run, who knows, these altcoins that I held will come alive.

Gibreil

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Bitcoin = Long term holding
Altcoins = Short term trading

I agree with OP. If you want to assure your hodlings, don`t marry the altcoins since they may collapse anytime soon. However, there are also alts that are good enough to sustain their project on behalf of a bearish period. So, we have to be very careful in selecting altcoins because plenty of them will dump your capital. It is good to be baghodlers of altcoins if the project has potential to grow or the developers are really serious in the development of the project.

joinfree

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Holding dear unto an altcoin will make you regret big time in future. Altcoins always have their glory days on the market and every experienced crypto investor will take advantage of those days and hodl more bitcoins by selling his bags of bitcoins but newbies would hodl on and regret later thinking they can make huge profits with altcoins. Most altcoins don't have good use cases to drive in liquidity.

JeffBrad12

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Quote from: Lizzylove1 on June 16, 2020, 05:26:22 PM

I hold many bags of altcoin, I take profit and never look back, I don't want what happened in 2017 to repeat itself agai. Instead of holding bitcoin in 2017, I jumped into altcoin and this destroyed my asset and plunge me into debt.

It looks like you were joining in the altcoin at the wrong moment. My friend was also doing the same like you and i just told him to never try to join in altcoin that already traded on the peak price. I guess if you were joining in altcoin at 2016 and you may have become a new millionaire too like some people in this forum.

DoublerHunter

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^

Quote from: CaVO32 on June 16, 2020, 05:52:20 PM

~snip~
we all did experience at some point holding tokens or coins that turned out to be crap.

^ Definitely right, probably all bounty hunters have been experienced on this. I have a lot of dead altcoins too and some turn out to scam. I have tokens that I regret most, after listing I did not sell it because I am hoping that it will pump more but unfortunately, after a month it was quickly down the value, and until now it has remained shitcoin. Probably I was not lucky in choosing a good altcoin because we really don't know which one will be pumping up just like what happens on BSV and BCH. I don't like them before because I am thinking that they are a part of a hype group but now, they maintained on the top 10 altcoins. Nevertheless, not all become useless.

kindbtc

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Everyone has different experience with different coins, we have seen some coins pumping right after listing and some coins keep drowning but as soon as they launch their product and it attracts users and activity the prices pumps madly but it may tale 2 to 3 years time. So you never know but one thing is clear if you are in a quality project and they are building something unique with good practical use cases and revenue generation model then the coin will definitely pay off sooner or later so we should keep hodling quality ones and take profit from the projects where we have less confidence.

CaVO32

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Holding good altcoins is ok but I don’t want to stay on a shitcoin because I know their future and I know the risk of involving myself into any shitcoins. We have to be more wise when it comes to investing, I’m sure we all have mistakes on holding especially during the big bull run of cryptomarket so let’s learn from it and be a wise hodlers now and don’t hesitate to sell and take profit.

we all did experience at some point holding tokens or coins that turned out to be crap. we did hope that it will still go up but unfortunately, it continued to go down. most alts that have fate of going down without recovering are those that are created and launched for one major reason - to fill the devs' pockets. they come in all forms, and presented in many different ways but their end is only one - disappeared in the market in no time. so if you want to choose an alt to hold, you should put all your effort to do your own assessment and consider all factors as much as possible that will make a certain project alive in the market. because it is your money at stake and the devs don't care if you lose your investments. and in this regard, very few can survive in this market.

Gab20

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Most altcoins are for a limited time, in fact they are just ways of acquiring ore BTC. Which is why if you make so much money from it and you are able to liquidate it, then you have the chances of acquiring more BTC and if you lose, you lose the chances of acquiring more BTC too. Taking profit when you see has almost been the song that people sing almost every time.

Topic: DONT MARRY YOUR ALTCOIN BAGS - page 11. (Read 2277 times)