Topic: Has AltCoins thought you a hard time lesson before? - page 3. (Read 460 times)

When there was also that much hype in altcoins during the ICO days. I bought some of them and did profit and brought that thought until the next years to come. And what happened next is probably all of us were aware of it. That time didn't do any good to the market because it was like a complete shutoff where it's entire bear market has got killed a lot of altcoins during that time. From that lesson, I was no longer investing heavily in alts anymore although until now, I hold some.

Yes it did but i don't want to blame the project for this. I was inexperienced which caused me to have unrealistic expectations. When i could sell off for a decent profit i kept holding until i lost most of my holding value. No matter how good a project is we all should extract our seed money and let the profit claim the ladder. No one knows the future and we can end up holding a sunken ship. I had my lesson, and it was a valuable one. This experience helped me make more profit later on and saved me from taking a loss again.

Investing in altcoins comes with great risk and that too investing in a single coin is highly risky. That is why it is always advised to diversify the portfolio which helps as if one coin fails the other might be a success. Diversifying the portfolio is risky if the coins where the amount is being invested fail. But, the risk is far less than investing in one single coin. If your friend had invested all his $1000 in coins like Ethereum or BNB then he would not have lost all his money. That is why doing research before investing is always recommended and investors should not blindly follow influencers.

Please i needed to know if diversifying as you may say would had bridged the lost that just occurred to my friend or is it that diversifying would only give him courage to withstand a one side lost and gains from the other side.
You made a clear point that probably he maybe new to the AltCoin sphere because he would had sold it when he must had made some values of income instead of keep holding hoping to make more of incomes.

I'm pretty sure that your friend didn't do enough research before making that investment because if he had done that and had analyzed the project thoroughly, he wouldn't have invested his money in a coin that would completely melt down. After all, a good project might lose value but it wouldn't completely melt down even in the bear market when the whole market goes down.
So even though I agree that almost everyone can become a victim of such a thing, one can mitigate the risks greatly if they do enough research about a project before they make their investments if they are investing in altcoins.

Minimize your loss to maximize the profits is one of the strategy that everyone should practice. So, what he can do to avoid losing all his capital if things go south when he decided to invest on altcoins again. He can use the stop loss feature to trigger selling if price drop below certain range which varies according to everyone's risk tolerance. For example if he is not willing to take risk if price dropped 30% then he can set that value and save the 70% of the capital value.

Investing must be far from emotion and there must be an investment plan. Otherwise, investing in Bitcoin may be a loss if you bought near ATH and decided to sell because you are afraid of loss. The only difference between investing in Bitcoin and altcoin is that in the case of Bitcoin, you are guaranteed that the price will not be close to $20,000 and it will rise, so all you have to do is wait, while in the case of altcoin the price may reach $0.0000000000001 and it may not rise.

I once had a difficult time with altcoins, when I first entered the world of crypto, where I didn't have a financial advisor in crypto, but that way I was able to learn to research every coin I was going to invest in, not because of fomo and hype to buy altcoins but how much the great development of altcoins themselves,

It's been a roller coaster ride since I was active in Altcoins; it was a wild journey. I've had my fair share of ups and downs with AltCoins as well. It's a tough lesson to learn, but it's a common one in the world of crypto. Some of them were blessings when I sold them at the right time, reaching my selling price target. However, most of them turned out to be cursed because, since the fall, they haven't recovered, similar to what happened to your friend, whose investment turned into dust. One mistake I see he made is not diversifying, and perhaps he didn't know much because he might be relatively new to this space and got carried away by the promises of that project.

This is very possible. He could have also been lucky if the token pumped by 1000x, but it is quite unfortunate that the token did not pump as he had predicted. Let him just accept his loss, and next time he should be more alert to set a determined price where he needs to stop losing and take his remaining capital. What I mean is that since he noticed that he had lost about 50% when he was left with just $500, he would have just gone off the market by selling the token at that moment. Even when he lost up to 80%, he still took off the remaining $200 he may have been left with. 

There was this coin in 2022; during their IEO, a piece of their coin was sold for $15, but the coin got listed at the price of $8 thereabout, which, as we speak, is trading at $0.03. This coin has caused terrible losses to those who bought it during the IEO and also to those who may have bought it at $5, hoping that it would pump to $15, which was the IEO price. 

So many investors have suffered terrible losses through most altcoin's ICOs, IEOs, IDOs, and even the public sale. 

In the past, there was a token I bought and the price dumped badly, which angered me enough to abandon the token on the exchange where I bought it. The last time I checked, the token had been delisted and the project was dead. From my experience with altcoins, I just decided to only invest in Bitcoin. 

The current increments in the crypto markets got my friend regreted after a hard time he faced last year after investing $1,000 on the AltCoin and he lost it all.
He said he Invested this some of money with his analysis that the AltCoin he invested on would rise but the volatility volume of the coin went south for him where he watched the Coins fluctuating and he felt the situation was one of the volatility potential systems in the crpto currencies.
Like he said, he watches the coins dropped from $1,000 to $8,00-$500 and was expecting it would pump up not til the coin melted to the point of loosing it all.
He said he if he knew it was going to be that way he would had had used the money to buy anything at the rate of $1 for the $1,000 just to make sure he gives achievable account of the coin.
He has decided not to invest on AltCoins again but just of recent he said he wished he had invested in the AltCoins this time due to the attractions of AltCoins as the results of the current bitcoin bull runs.
WHO AMONGST US HAD ALTCOINS THOUGHT A HARD LESSION IN THE PAST.