How long should we hold coins?
In the past 3 weeks, despite all the risks, many investors have hold a large number of coins such as TRX, XVG, XRP, ADA, etc. ranging from good to bad coins including DGB, DOGE.
Getting back a little bit with the psychology of human beings: we are always afraid but very pleasure when others talk about profit. When some coin prices are falling, you only see the negative things in it: "It will surely keep falling, so it’s better to stay away". When it turns back up: "It will plunge again sooner or later?" But when it's high up then: "It will no longer fall".
As an investor, you will have to understand a coin before investing money in it. You should evaluate and consider everything before making the decision to buy and hold for a long term (for 6 months to 1 year , or at least 3 months for the most impatient investors). Because one cycle of increase / decrease of a coin usually lasts for 2 months, understanding coin will give you confidence, psychological preparedness before facing the falling prices
The criteria to assess a coin:
1. General information about that coin
2. The purpose of generating the coin
3. The dev team (do more or say much)?
4. What is the current product? In what stage?
5. Are there existing customers? Potential customers?
6. Vision of future coin? Is it realistic or just expressed in words?
7. Scalability? Can it be accepted by the public? Is it possible to apply to everyday life?
I spend little time tracking the prices. Most of the time is spent on reading news, evaluating coins to make investment decisions. I also spend only 10-15 minutes on technical analysis (It’s not because I view it as unimportant, I’m just get used to it). As a result, I have bought a lot of coin at a very good price. I bought when you were there saying: how can it increase again. I left you far behind, at present, it is greatly safe for all my investments because my investment value has increased by several to tens of times.
You can say whatever in case of rising price, even when you invest in shitcoin. However, when the price falls this low, my balance seems to keep stable thanks to my calculation and comprehensive knowledge about coins. Once investing in a coin, I strongly believe in its future. I choose the right time to buy more coins without any fear of risk!
So how long to hold coins? The answer is that you go learn more thoroughly and comprehensively about the coins you want to invest in and make your decisions.
Thank you, this is useful information for beginners.
