Topic: I lost half of my crypto amount! what to do? - page 98. (Read 10117 times)
Well everyone in trading have at least made this mistake once,so you have to learn from this experience and try to not make the same mistake.Next time,you should research the coin that you want to invest,like the news of future update
One thing you certainly didn't do is look into the project plans of the altcoins you were investing in. Instead you judged their possible success based on the results BTC and ripple were showing. I think you have learned an important lesson. now get back up and make more informed decisions when investing.
First of all you need to have patience, I'm sure that in a long time bitcoin and then the other coins will soar many times, do not worry, you do not have to invest all your money in one coin, it's better to distribute it to several crypto coins.
So I basically got fomoed. Towards the end of 2017 I saw how high bitcoin skyrocketed and decided to invest in ripple as a test. Less than one week it went up 3x. This made me more ballsy and I put in 11k total in various other alt coins like ripple, ethos, tron, and cardano. After the crash I lost about half of my value just like that. I am frustrated with the experience and wish I would have just put in 1k or something. I wish I could just not invested and went into what I was doing earlier which was just investing the boring and traditional way. Should I wait and hodl or pull out and do something else?
Don't need to panic. Just hold the coins patiently because some of your coins are good investments which you will find out by the end of this year.
You're investing just what you can afford to lose and just imagine that the day will come when the price will go back and you will gain. If you're 50 percent lower than your price hodl, especially if your coin / token is long term and promising.
Remember: Don't put your money in one basket
#Datarius
Remember: Don't put your money in one basket
#Datarius
You cannot predict other coins' performance base on how Ripple and BTC are performing, that in itself was a big mistake, but i guess you have learned now. Research is better than just assuming things will happen. some of these coins will have no value in the market and when invested heavily on will only make you losses.
it seems that you are not alone in facing this situation, I am too, even my friend is worse, this is the risk of cryptocurrency, but believe me, just hold, you will get the value back, keep the spirit
Just hold it will not guarantee that we will get our value of money back or maybe get profit.
Just hold it will give profit if we hold the promissing altcoin example etehrium which is very high potential.
I suggest you to hold, it looks like you have been wrong strategy from the beginning. do some long-term plan, try not to waste opportunity
I think you could start working on something else, just saiying xD
HODLing isn't always the best strategy. It totally depends on what you are HODLing.
Altcoins tends to crash more drastically due to their low MCAP.
However once the market is bullish again, they have the same potential for a much higher %gain too.
Personally, I would reassess my portfolio, and examine which coins I should continue holding.
Imo ADA is still a good long-term HODL -- their team is capable, the project is still going strong, nothing to worry about. I expect ADA to start becoming super bullish next year, or even as early as the end of this year.
As for ETH, it is a safe investment and you will definitely see growth once the market starts picking up.
For me however, I have diversified into RaiBlocks (Nano), OMG, VeChain, NEO, Stellar, TRX, when ETH had gained vs BTC (at around 0.1 : 1) -- since these lower MCAP coins had seen more significant dips (hence better buys).
I am not recommending that you invest in any coins since the prices have changes since. But progressively channelling my ETH into very selected alt coins (that I had done a lot of research on) have worked well for me so far during the recovery phase.
So I basically got fomoed. Towards the end of 2017 I saw how high bitcoin skyrocketed and decided to invest in ripple as a test. Less than one week it went up 3x. This made me more ballsy and I put in 11k total in various other alt coins like ripple, ethos, tron, and cardano. After the crash I lost about half of my value just like that. I am frustrated with the experience and wish I would have just put in 1k or something. I wish I could just not invested and went into what I was doing earlier which was just investing the boring and traditional way. Should I wait and hodl or pull out and do something else?
Altcoins tends to crash more drastically due to their low MCAP.
However once the market is bullish again, they have the same potential for a much higher %gain too.
Personally, I would reassess my portfolio, and examine which coins I should continue holding.
Imo ADA is still a good long-term HODL -- their team is capable, the project is still going strong, nothing to worry about. I expect ADA to start becoming super bullish next year, or even as early as the end of this year.
As for ETH, it is a safe investment and you will definitely see growth once the market starts picking up.
For me however, I have diversified into RaiBlocks (Nano), OMG, VeChain, NEO, Stellar, TRX, when ETH had gained vs BTC (at around 0.1 : 1) -- since these lower MCAP coins had seen more significant dips (hence better buys).
I am not recommending that you invest in any coins since the prices have changes since. But progressively channelling my ETH into very selected alt coins (that I had done a lot of research on) have worked well for me so far during the recovery phase.
At the end of the year is the peak, many are experiencing the same thing, make this the best lesson for you and me.
This is the common case when nebies mistakenly omit veteran traders suggestions and then choose non-potential coins as their preferred assets. Till now you might have learnt a lesson from such mistake, i would suggest to move into bitcoin and bitcoin cash as well than to hold in such coins, ripple is also good for future, you can continue holding some amount in ripple if you wish
I think the fate you are experiencing is not alone, very many people who also suffered losses as you experience now, even myself, but now it is very late to cut losses, so I was forced to do hold
The losses are paper losses only so when the next big rise starts, you will be back in green
eventually. Plenty of others are holding positions bought at the highs too so you're not the
only one.
eventually. Plenty of others are holding positions bought at the highs too so you're not the
only one.
yah you right after end 2017 everyone invest bitcoin and the other coin because in 2017 crypto so promising. and now the price drop so far turning red in few weeks. i suggest to hold you coin. maybe the price going up again and you can pull out. if you pull out now is the same you got lost to.
I think all newbies had been a victim of FOMO.I also did that too last year, I bought a token in its ATH then the next days it dropped 75% but then I don't want to loose so I decided to hold .For now I already gained profit and I see great potential in this token so gonna hold it for a couple of months.Read the whitepaper,check roadmap and get to know the team and if you think its has potential then hold, In right time you'll gain something in return.I think ripple has a potential to grow more, tron... I'm stuck with that token too lets just keep on believing(haha).
At present the downward trend in the whole market is still, so I think if you need the money, then you can consider to sell, if you need money, so hold, because long-term holdings will certainly let you make money.
You have to understand that the crypto market is very small and it can be manipulated very easily by whales and market makers. Banks and institutions coming making presence in the market makes short term outlook even worse. Nevertheless if you believe the crypto is here ti sta when looking long-term, I think your position is better than others who will be flodding in this year.
HODL Is the safest approach by far. What you can do as well, is being that we are still technically in a dip, you can buy in low on some other projects, to lower your break even point.
I know you're not the only one experiencing this situation all of us make mistakes but this is part of learning and this will serve as a great lesson for you so better to move forward and eventually you'll overcome it. And I suggest you not to sell your holdings now even you feel frustrated but instead continue the things that you've been doing since then that which you think will do good for you.
Jump to: