DONT MARRY YOUR ALTCOIN BAGS - page 8.

htsy585

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Quote from: MrMojoRising26 on June 16, 2020, 01:45:35 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

This is really a fundamental concept everyone needs to understand before investing in altcoins. Like you said, it is possible for altcoins to have a massive price surge as much as x1000 but the survivability of altcoins ain't guaranteed because not all of them usually see the end of the tunnel after a long bearish market condition so selling them for bitcoin for the longrun is the smartest thing to do always

bigcash2011

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Quote from: MrMojoRising26 on June 16, 2020, 01:45:35 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

Taking partial profits whenever the price grows nicely above your purchase price is a good strategy, by doing so not only you lock profits but if the market takes a downtrend from there you can buy even more coins but make sure you are applying this strategy to high quality and top coins only, it will not work on some low volume and less reputed coins.
Secondly, if you feel that you are tight at the start of long term bull season, like many people think so right now then hodl is the best strategy till the time when you think that the price is near its peak point.

Script3d

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Quote from: Deeshawn on June 20, 2020, 12:58:39 PM

The best is to flip altcoins, holding for a very long time with the aim of making too much gain can be very risky, hold alot of serve token years ago, believed too much on the coin due to the hype on bittrex and CMC, but currently the coin is very worthless and was delisted on CMC last year.

Holding coins for a long time is really risky but it can pay off if the coin succeed, its gonna be like finding a new bitcoin, you're gonna be rich as fuck, but its gonna turn into stone if it doesn't.

bayudndy

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Quote from: kapalmabur on June 20, 2020, 01:03:56 PM

Quote from: Romeotom on June 20, 2020, 10:54:46 AM

I remember talking about an altcoins PRL even it was a success project and i was holding long time. This is bad luck for me because one time prl jump 3x less them profits after adding kucoin exchange but i wasn't sold. Unfortunately some month later price drop and i got big loss. Therefore hold altcoins and want quickly rich with 10x profits is bad decision.

PLR or PRL? do you mean the Pillar project? Because I searched for Coinmarketcap PRL not found,
what I found was PLR, the price in 2018 is amazing $ 1, and currently only $ 0.02. this is your thought?

I think that's the project that he mentioned, its price has increased when listed in kucoin, but since then the price has been going down continuously and now it's been down more than 50 times from the beginning. Hold shitcoin in the long run is always a bad choice

kapalmabur

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Quote from: Romeotom on June 20, 2020, 10:54:46 AM

I remember talking about an altcoins PRL even it was a success project and i was holding long time. This is bad luck for me because one time prl jump 3x less them profits after adding kucoin exchange but i wasn't sold. Unfortunately some month later price drop and i got big loss. Therefore hold altcoins and want quickly rich with 10x profits is bad decision.

PLR or PRL? do you mean the Pillar project? Because I searched for Coinmarketcap PRL not found,
what I found was PLR, the price in 2018 is amazing $ 1, and currently only $ 0.02. this is your thought?

Deeshawn

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The best is to flip altcoins, holding for a very long time with the aim of making too much gain can be very risky, hold alot of serve token years ago, believed too much on the coin due to the hype on bittrex and CMC, but currently the coin is very worthless and was delisted on CMC last year.

PerfectCircle

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You won't have much problems and losses if you do this

1. Choose popular/top altcoins
2. Diversify your money in several reliable altcoins
3. You won't have too many loses but failure might come around
4. Don't get too deep with new altcoins, they are tricksters

Romeotom

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I remember talking about an altcoins PRL even it was a success project and i was holding long time. This is bad luck for me because one time prl jump 3x less them profits after adding kucoin exchange but i wasn't sold. Unfortunately some month later price drop and i got big loss. Therefore hold altcoins and want quickly rich with 10x profits is bad decision.

reliable

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Quote from: Leo on June 20, 2020, 02:52:22 AM

A great lesson was learned by me during 2017/2018, bag holding of lots of coin that I think are great for long term such as Npxs, and others coins,I can say that I over married those coins now the only coin I can think of holding for long term is either bitcoin or ethereum, other coins are just for either mid term hold or flipping for short term within days

Couple of things even I understood during that peak is that one should not be investing in single coins and always diversify and stay invested in various coins or the best coins. Also one should be buying on the dips and not on the highs because this is where people tend to lose major money and many do fail in such situation only.nn

South Park

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Quote from: MrMojoRising26 on June 16, 2020, 01:45:35 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

I agree with the advice, since people recommend all the time to hold your bitcoin even when it begins to go down some people have the idea the same principle applies to altcoins and that is not true, altcoins are extremely risky assets that could be worth nothing in a single day, as such if the altcoin in which you invested begins to go down rapidly the best thing to do is to get out of it, now some may consider this to be a bad idea since the coin could always recover but we only have to see the history of altcoins to know that the majority never recover after a huge drop.

TWW

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Quote from: gaston castano on June 20, 2020, 03:45:07 AM

some altcoins are good, but most of them are bad and will disappear.
so you really have to choose the right.
Most people are stuck in a dilemma when all alt rises in 2017 and always hope that moment happens in the near future.

don't expect it will happen again shortly. Current conditions seem to be difficult to expect to get altcoin to reach ATH 2017. Now many altcoins were at the time with a high increase but now they are at the bottom.

LogitechMouse

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For me, altcoins are just for money flipping purposes (most of them) although I'm holding one altcoin which is ETH and the other one is BTC. I also hold some ENJ and ETN but just a small fraction of my port (around 1% to both of them maybe).

I also believe that some altcoins are good. They have good technology, the project is good and the main use of the coin is good. Its just that investors don't see it but as long as they can get profit into an altcon then they will just buy it and then sell immediately if they sees an opportunity. Even though there are some who are holding some altcoins right now, most of them are regretting because of what is happening to them right now.

pawanjain

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Quote from: Stedsm on June 16, 2020, 02:45:26 PM

I remember of a friend who gave up his studies and went all-in on AMP coin (Synereo - if you remember the project). By saying all-in, I don't mean that he invested any money on it but all his time. He worked as a programmer for them and used to earn $300 worth of AMP each month. He did this for at least 3 years, the project did well and he almost became a double millionaire when the spike occurred in markets during 2017 when BTC was $14k and reached $20k. But he kept the coins as it is, didn't sell them when I even advised him to do so and later when the crash happened, the project itself came to an end putting all his work and savings under the grave. So, you need to know when to sell as that's too an important part of trading.

Oh my God. That gave me goosebumps. You could only imagine how hard it would have been for your friend to lose all his coins.
He lost all the time and effort. I hope he would have at least sold some of the coins.

I had a friend who did some development work for a project and was offered $10k worth of tokens.
But I advised him to take the payment in bitcoin or ethereum and then the project team decided to pay him in bitcoin but only $300.
He took the $300 in bitcoin and is now happy because the project didn't raise enough funds and hence was not launched at all.

Even I had myself held on to some altcoins for 3 years now but sold it quite recently at a decent price.
The altcoin was at $3 back in 2017 when altcoins were at peak but then the crash occured and drained all the profits.
I am not sad though since I sold it at $0.5. Atleast I got a decent amount of ether for it which I am quite sure will cross the ATH.
By this way I hope I would cover the $3 price in an indirect way and get back the profits.

Lantind

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Quote from: Leo on June 20, 2020, 02:52:22 AM

A great lesson was learned by me during 2017/2018, bag holding of lots of coin that I think are great for long term such as Npxs, and others coins,I can say that I over married those coins now the only coin I can think of holding for long term is either bitcoin or ethereum, other coins are just for either mid term hold or flipping for short term within days

Very extraordinary, you belong to a very great student, but I am a little surprised why at the time of 2017/2018 you do not directly hold Bitcoin and Ethereum, even though at that time you already hold both, then at this time there are also many advantages that you will get, because those who hold tokens or coins will always monitor the price and the development of the coins and tokens that we hold.

gaston castano

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some altcoins are good, but most of them are bad and will disappear.
so you really have to choose the right.
Most people are stuck in a dilemma when all alt rises in 2017 and always hope that moment happens in the near future.

aioc

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Quote from: MrMojoRising26 on June 16, 2020, 01:45:35 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

Only newbies and uneducated people do this things, if you are going to HODL be sure that you are holding coins that has a proven track record, we can check all the history of the coins since they started and we can do comparison it's open secret for all traders and investors, if you happen to HODL a coin and end up with no value then the blame is on you, investing in altcoins is 27/7 monitoring.

Leo

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A great lesson was learned by me during 2017/2018, bag holding of lots of coin that I think are great for long term such as Npxs, and others coins,I can say that I over married those coins now the only coin I can think of holding for long term is either bitcoin or ethereum, other coins are just for either mid term hold or flipping for short term within days

Mpamaegbu

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The post 2017 era has taught a lot of people a great lesson in crypto. Many people got misguided and erroneously assumed that altcoins would perform like Bitcoin if they held unto them and never wanted to be a story like the 10,000btc Pizza guy. How wrong they were. Most of the altcoins got wiped off the radar and a lot more scammed the hell out of the people. When you take a closer look you will realize that there's a reason Bitcoin remains Bitcoin while the rest of the cryptos are referred to as altcoins.

Balladtony77

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Altcoins are full of disappointments believe me no one will want to hold weak altcoins in their wallets for a long time, many have learned their lessons that Bitcoin is the most strongest coin in crypto space, only very few altcoins are that good like Bitcoin

MrMojoRising26

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Quote from: bearexin on June 18, 2020, 10:56:38 AM

Do you people sell your BTC completely and then put the money in altcoins? Cause I don't get it sometimes. You should be doing some kind of diversification here, like dividing the money and investing where you think they will perform better. Depending on the money I have, usually 80% goes into Bitcoin and 20% goes into big altcoins that I trust (I'm sorry to bee projects, I don't have their time because I have a lot of things I am busy with, so I go with the top cryptocurrencies for now).

So, any money I invest in BTC stays just there and when I sell it, the money and profit goes to the bank till I'm ready to buy again. If we are ready to risk on altcoins then we need to be ready to face whatever outcome of it. Because unlike bitcoin investments, altcoins are not coming up with minimum returns for our capital.

Great advice at least hold 50-80 percent in bitcoin diversify never go all in on alts

Topic: DONT MARRY YOUR ALTCOIN BAGS - page 8. (Read 2294 times)