Topic: Exiting altcoins at the correct time is the best thing you can do do with them. - page 4. (Read 606 times)

Let's say your golden rule applies to me as well except I removed the "trade altcoin" part.
I just simply hold BTC in my bunker and revisit it once whales already entered the market or maybe not. I am not quite sure that even 100k in BTC is still enough.

It is the best thing we can, yes. But it is really hard to predict when the correct time is. Most altcoins are even more unstable than others. If you are dealing with that kind, you have a really tough job to do.

Greed makes many hold unto their token and coins believing that the price will still rise up again, some even believe that 100k per BTC is possible, in 2017-2018 bull market many thought BTC is going 50,000$ because of predictions on the web, I was one of them who learned the hardway so I avoid the same thing this year and I'm happy I did.

altcoins always make a lot of losses if bitcoin experiences a very drastic decline then altcoins will decline even more I see for myself at this time altcoins have decreased so great bitcoin has decreased slightly altcoins will experience more declines when the current situation occurs it's better to always be aware of bitcoin price movements because the decline and increase was so fast that it destroyed altcoins I thought would bitcoin go back down like in 2017 it could have happened because I saw the market getting worse.

Choosing the right time to sell is hard because you don't have a plan.

But if you're that type of investor and you're very fine with the profit that you've gained and even if it's not going to be that much, you should be able to sell at the right time.

Sometimes, it's becoming hard because you want to have more and you're not contented with how much you've got already.

What are the signs of bitcoin's rise not bringing altcoins like before, although I think bitcoin's movement is still in doubt and but bitcoin is the best alternative for diversion if the market or altcoins are in the red.
and if your altcoin has good potential and you believe you should hold it without converting it into bitcoin, the market is difficult to predict and sometimes it can be confusing to convert or sell it

I don't think everyone can predict the correct time when to exit the market even on alts, I know if you can timing it it's the best thing you can ever do to protect your profit or to avoid your losses. BTC will always be the main point for stacking, I'm trading as well altcoins to make more my value in sats.

When Bitcoin is boring I tend to trade alts or hoard some stablecoins and if I appreciate that it's time to convert it back to Bitcoin or Bitcoin is showing signs of upward movement.

It is very true. Most of the altcoins in the market carry big risks. They can go up and go down very quickly. I understand also that choosing the right time to sell is really hard. But when one starts gaining experience, it can be easier to predict.

If I choose good altcoins, and don't choose hyped altcoins, I would hold them to wait for profits. I will have to be patience because holding is not easy. But if I can not trade good, holding is better.

If I choose hyped valued altcoins, holding will rent me with time. It is bad and the end of my portfolio is so bad. I will lose most of my money with holding.

I will hold altcoins like Ethereum, BNB, DASH, Stellar, Polkadot, Solana.

It's rainbows and sunshine until you realize how unpredictable the market in this industry is, lol. But yes, I get your point. The only problem is that most of the people nowadays (the new comers) are too gullible and only choose to invest because of hype which makes them end up buying on peaks and selling at a loss on dumps. Even those who get lucky enough to invest before the peak become too greedy and do not exit which leads to losess again. Until these people learn to do their own research and control their greed, they will not be able to make profits and lose money instead.

It’s not like every alts will be 2x, but it’s better profit out your initial capital whatever profits you're having at that moment like 20% or event 50%. Though profits will be small, but portfolio will increase rapidly. BTW, anyone hodl any potential alts for 2x which is having real  or upcoming major events according to FA. 

This is assuming you bought it early before a price pump. There is no good news if you bought high.

However, considering it's almost confirmed that we're going into at least, a mini bear market. Altcoins are going to suffer the hardest. Many alt coins are never going to go back to their all time high. I doubled my money gambling hyped up alts and the "nFt" scam... Nooblet me mistakenly thought the buy and hold strategy applied to alts. Worst mistake of my life.

I thought I was being "safe" by not taking profits. I should have sold half or more on all those coins I gained on. Now most of them, crashed down to below what I even paid for them. I could have done really well but there needs to be a golden rule that you hold bitcoin and trade alt coins.

That's going to be my golden rule.

Hold Bitcoin, trade Altcoins. Hold Bitcoin, trade Altcoins. Hold Bitcoin, trade Altcoins.

^ I'm going to hand write this over and over 100 times on a piece of paper like I'm back in elementary school getting punished.

I'm gonna hold every alt that has a loss. I still think it's better to hold at a loss for the hope a pump happens again. If I can break even I'll trade it back to bitcoin.

I only remained profitable with Doge (surprisingly and only due to unintentional luck) and Eth, and KSM barely.. Every other altcoin so far has been a loss. I guess it made sense at the time. I think I might be at an even higher loss if I bought bitcoin at 55 to 60k vs alts that were pumping up. However, at least with bitcoin, at very least... with bitcoin, even if you bought high, you can hodl, and you are almost guaranteed that it will one day smash through it's all time high. Countries are going to flock to bitcoin, not alt coins. Bitcoin might recover from this dip or mini bear market and continue to smash through all time highs. alt coins? Maybe. Probably not.

With alts. I've been looking at the history of most of them and well guess what. Most of them never touch their all time high in the next bull runs. Some go even higher, most dont. And many drop out never to be heard again. I knew the risks but being dumb, poor, and most importantly, super late to the game, I knew there was no way I could ever get to the amount of bitcoin I wanted to be at. Some alts were still kinda low and I heard you can get percentage gains more than bitcoin. My idea was to ride pumps on altcoins, then eventually trade profits into bitcoin, but I didn't know when to get out.

I think the golden rule of alt trading for me will also be. As soon as your money doubles, sell half, that way you're guaranteed to have not lost any money. I was hoping to ride up just a little longer. I heard of people getting 3x 10x sometimes 100x. I let emotion get in the way. I started smoking just a little hopium, then got hooked, next thing you know I was a crypto hopium addict. Now I'm living in the digital streets having spent all my hard earned money on this hopium crap. Felt good till the crash. Now I'm in the gutters begging the crypto gods for the next fix. Just one more pump plz...