Topic: Drop in altcoins, who went crazy? (Read 1148 times)

I dint went crazy because i don't sell altcoins which i am having . I will keep for atleast one year then i will decide whether to keep or sell . But of course i sold some bitcoin i kept for long time when it reaches almost 3000 K .So no need to get panic

To the OP here and everyone else who bought in when prices are at all time highs...what the hell did you expect?  You're supposed to buy LOW and sell HIGH, but so many idiots end up doing the exact opposite.

You got what you deserve, which is an expensive tuition at the school of financial hard knocks.  Serves you right if you lost money, because it's a market for fools these days and I do tend to agree with Spoetnik here.

FWIW, everything I've ever bought, I go in with a very, very long term view. I like to go for "motherships" that pave the path for other coins that follow, backed by a strong community and adoption from a developmental standpoint.

With that, I've been a serial chartist for about 15 years now and can tell you that some high volume events stick, and others don't. High volumes at peaks like to fade (reverse). The rest that are found at the inception of movements tend to work as pick up points on pullbacks. These are what I look for and use them as buying opportunities.

In any market, including these (provided the world isn't caving in), prices like to run after areas of liquidity, or where a lot of volume was previously traded. DGB is a prime example of this today. Came right down to a zone of previously heavy traded volume and hit the brakes. So I grabbed some more.

If I get hosed, I get hosed. That's the one thing I never want to forget anytime I grab any of these. Bottom line, you just don't know. This market will only increase in cap over time and get more and more saturated with coins, so it only makes sense to grab those which have already proven themselves from a human capital standpoint.

Twitter, as an example, hasn't made a dime since day 1. Yet the shareholders from the initial offerings are flush with cash beyond belief. That's the type of world we're living in here.

The altCOins/ETH are currently in oversold levels most likely due to eth going up like a train.. I expect a retracement. But as everyone has said it can be super nerve racking!

I use the drops to look for opportunities. You may have invested too much if u out in the street in public trippin balls lol

Very scary and I hope this does not happen to anyone.
I do not think this will happen if all is done with good analysis, and does not involve big emotions to always benefit. Trading is always normal with loss and profit is very reasonable. Always be careful choosing the coins to be purchased and always prepare the backup.

I bought all my altcoins two weeks ago, most were pumpin and today I still have profits. Just don't buy when u see a coin go crazy buy before it

Here is better advice: Don't take investment advice from random internet people. Do your own research or do nothing at all.

you, i like you

this is very stellar advice. doing all of this will help your emotions be in check. never go all in on a few coins or one coin for that matter. have rules you follow. risk tolerance and bankroll management are two big keys in trading. last but most important only invest what you can afford to lose (avoid them heart attacks) .

Exchanges are real big casino, when BTC is healthy alts (or should I say shitcoins) look healthy and it's easy to fall into a pump&dump tramp if you are new and want to earn some quick buck. Trading is risky but risk makes it profitable isn't it?

BTC dumped few hundred so alts did too but most of the time when alts fail if you know what you are doing you can buy some alts and even end up with a profit later on. Trading is a real game when it is all a bubble of some kind, you can speculate and when you do your homework well you can manage to gain big and when I mean big even to double your money and more.

Money is hard to earn you can't flip it easily and remember don't buy high and sell low, emotians can kill you. Learn to control them.

People who are entering the virtual world must understanding about the volatility of the market and you cannot simply come in and invest in a bunch of coins without looking at the price thinking that i would make you double your initial value is going to get hit bad,because things wont work like that in any form of investments,if you are smart enough with your investment then you wont go crazy over here.

Keep dry powder ready and buy the dip.

Its nice getting a 20% discount on your favorite alts.

If BTC is tanking, convert fiat into btc on down days.

Funny, but speak deep things about how newbies see how crytocurrency work. Professional traders don't see trading in that way. Investment, demand patients, skills and knowledge, if you you lake this three things then op's story is for you.

Yup.. investment gambling.
Not.. adoption of a currency.. who wants that ?

And me ? never.
I am not a kidiot hysterical women trading with emotions.

I ll give you some advice:

1. Dont let emotions take over control: Wait till the storm will be over....after the storm sunshine will come

2. Have back up money to buy more, dont invest everything at once. If you have back up money you can reduce your average buy price

3. Invest only money that you dont need, otherwise heart attacks are a daily part of your life.

4. Do your research and choose wisely: not all coins are good investments

The best way to look at altcoins is like Poker when you push the money into the pot you have to kiss the money goodbuy. Just know you have good ods but even if you have 80% chance to win sometimes the 20% is true and you loose. So you kiss the money good buy and play the ods in the long run. Altcoins is Poker!

My philosophy you should not panic or stress in the first place, or otherwise, don't invest in crypto.

In times of high volatility, exchanging one token for another is quite risky.

Why not use smart coins such as bitUSD, bitGOLD, even tether to hedge against drastic down turns?

WHO

put a bunch of money into altcoins recently, thinking you were going to get rich and jumping up and down in joy. AND THEN... it happened!

You look at the charts and it's all red! You begin panicking, hitting yourself in the face, pulling your hair, having a massive panic attack where it felt as if your heart was going to jump out of your chest and you start kicking the floor, having a massive temper tantrum and rolling around on the floor, floppin' like a fish screaming. But you didn't give up quite yet...

You decide to take your altcoins you purchased and to exchange them for a currency that was ongoing in a massive spike, but then... after you exchanged it DROPPED even harder than the altcoins you had before. The sht really begins to hit the fan from here... you start screaming again, jumping up and down, throwing things, smashing your house, breaking out windows and screaming swear words at your neighbors and you start jumping out in front of cars in the road and scream even louder at the drivers and then you run back inside freaking out so hard you drop on the floor and go back to sleep?