Important Questions about the Market and Alts

MAAManda

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Quote from: jflavus on May 19, 2024, 06:38:12 AM

When you are investing in altcoins or checking out the project, what do you generally look at?

The first thing I'll look at is the potential, how the project will develop in the market with what they offer, then don't forget about the narrative that is happening. Recently L1, L2, RWA & AI projects are developing, it would be better for you to find out about those things than to find out about meme coins/tokens. Do you understand what I mean?

Quote from: jflavus on May 19, 2024, 06:38:12 AM

-What are the most important specs of the coin?
-How long do you wait normally?
-What are some metrics on social media or price implication that it might pump next?

- What they have to offer the crypto market, if it's about a game changer, I'll go there.
- 3 - 6 months, that's the time range I usually imply.
- Sorry, I don't really understand the metrics you mean, is it the same as narrative?

Fiasem20

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If the coins in your portfolio are not giving you the profits your expecting then you can diversify your portfolio to other coins that are less volatile that can give you your expected profits.The whole thing with altcoins is you can hardly predict new projects because most of these new altcoins were developed by scammers,so when you see continuous decline in price than you expected it simply means maybe the project has crashed or the developer has taken the money of those who invested,that it why it's good to invest on what you can afford to lose most especially new projects.

Mate2237

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Op by now you supposed to understand that following channels do not help but this community recommendations. You have been following yet you have not making any profit so what you have to do is I advise you to invest bitcoin for now until you. Make your own research and invest on the top coins and wait for sometimes to ripe (bull market) before harvest them. I wouldn't recommend Ethereum but since the ETF has been approved, you can invest in Ethereum but please make a research very well before investing in it. Check the transaction fee and the network to k ow if they are okay to invest.

I did that the same mistake without checking the transaction fee and the network so I loss in the investment and before I will have gain in the investment, when Ethereum hit $4,900. And I don't know when is that.

God bless u

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Quote from: jflavus on May 18, 2024, 02:55:01 PM

Hello all,

I have some important questions to ask about the market Altcoin market currently. I have been trying to find some altcoins to invest as currently I am making loss in whatever I buy and wondering if everyone else is in the same situation or living the same situation due to very volatile BTC DOM.

First thing first, I want to follow some useful platforms to understand which coins can be useful for spot trading since I can't use future in the UK.
I have lost almost 60% of what I invested and am following the websites below;

- https://www.rootdata.com/trending / This is to see what is trending and what I can get.
- https://dune.com/dyorcrypto/relative-strength-crypto-narrative / This is to see which narrative to hold and which narrative is strong against BTC.
- https://token.unlocks.app/ This is for token unlocks.

I still can't seem to earn any money, and seem to be losing my money. I am actually making loss on my own investment.

I need some help and any ideas, suggestions/ recommendations would be useful. You can suggest a platform, or a link for me to read. I go on X too, try to keep myself posted and updated, currently been HODLING on THL, WLD, VANRY, DYM, FXS, ZEUS and all at loss..

What are your recommendations for me? Which platform is good to learn more or at least get ahead of the curve before I lose all my money.. I see people on X constantly making money and getting multiple x's on their portfolio meanwhile I am draining my hard earned money on the market..
What can you suggest ?

Thanks for reading my post.

it's worthless to follow any platform if you don't have the skills to analyse the signals and the market carefully. If trading would have been that easy then everyone should make profits in it.

Go and learn some valuable skills so that after a signal comes to you , you're capable enough to analyse that whether it's convenient to invest according to the signal or not other you'll lose more money.

kotajikikox

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Quote from: mk4 on May 19, 2024, 01:00:18 AM

You seem to be focusing too much on the already 'trending' coins instead of buying things that are just getting off the ground; likely buying close to the top and stuff.

Lots of people want to buy coins that are not yet that expensive and then take huge profit from there however the key here is time. If you’re late on the game then you are just possibly buying an overhyped coin that will later on be dumped by the people who got there first before you.

So don’t rely on other people’s opinions and instead set a criteria for yourself so you can decide which coins are potentially valuable and those that are not.

Coin_trader

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Quote from: jflavus on May 18, 2024, 02:55:01 PM

First thing first, I want to follow some useful platforms to understand which coins can be useful for spot trading since I can't use future in the UK.
I have lost almost 60% of what I invested and am following the websites below;

Just invest on Bitcoin and major Altcoins such as Ethereum and BNB will make you in profit in long term. You probably keep investing on shitcoins with low marketcap aiming that it will pump in the future which gives you huge loss when Bitcoin is dumping or gaining dominance.

Forget about platform that gives advice about what to invest since most them are paid to shill certain shitcoin project that pay them.

Much better to stick on the safe investments rather than venture on much volatile shitcoins if you can’t do a due diligence on each project.

o48o

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Quote from: jflavus on May 18, 2024, 02:55:01 PM

-cut-
I need some help and any ideas, suggestions/ recommendations would be useful. You can suggest a platform, or a link for me to read. I go on X too, try to keep myself posted and updated, currently been HODLING on THL, WLD, VANRY, DYM, FXS, ZEUS and all at loss..
-cut-

Here's your answer, but i am not sure if you understand your question yourself.

Please answer what were the reasons you picked these assets, and why would you automatically think they would make profit? Those links don't indicate if the price would go up, or if the fundamentals and tokenomics are good.

BTC dominance doesn't have anything to do with ALL the altcoins out there. It's just a trend indicator and since the number of altcoins existing is growing rapidly, it obviously can't affect ALL of them. Just because total marketcap of all of them would rise, changes with your obscure lowcaps and mircocaps rising will be slim to none.

This isn't a stock exchange and almost everything in this space is based on speculation, not substance or irl funtamental revenue.

batang_bitcoin

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Quote from: jflavus on May 18, 2024, 02:55:01 PM

I still can't seem to earn any money, and seem to be losing my money. I am actually making loss on my own investment.

I need some help and any ideas, suggestions/ recommendations would be useful. You can suggest a platform, or a link for me to read. I go on X too, try to keep myself posted and updated, currently been HODLING on THL, WLD, VANRY, DYM, FXS, ZEUS and all at loss..

What are your recommendations for me? Which platform is good to learn more or at least get ahead of the curve before I lose all my money

Better sell all of those and choose BTC. In that way, you'd be more relaxed and only need to wait until it reaches a certain price for you to recover.
And any top platform or exchange should you stay. Don't get into unknown ones.

Quote from: jflavus on May 18, 2024, 02:55:01 PM

I see people on X constantly making money and getting multiple x's on their portfolio meanwhile I am draining my hard earned money on the market..
What can you suggest ?

Thanks for reading my post.

Don't believe anything you see on social media.

Tipstar

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All you need is more research both in the analytical price movements and trends as well on the fundamentals of the coin if you are trying to hold it long term.
Buying low is important. It's better to wait for the coin to get a low point. Low points are more predictable than the high ones with enough analysis of the moving average and volume of trade. Even if you are wrong, you can always DCA. If you can't do futures, you should focus on trading on price swings and long term investment for large profits. The first one requires precision analysis and agile trading while the second one requires a lot of patience.

peter0425

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Quote from: jflavus on May 19, 2024, 06:38:12 AM

On twitter, people are like oh I made 7x in a week, 2x in two days.. Mate how do you find those coins? How did you turn 4.8k into 40million or whatever..

While investing in altcoins are highly profitable you have to consider the kinds of sources you hear these from. If you are hearing it from twitter, how sure are you their claims are true? Lots of content creators are spreading success stories that are not even half true which is why we need to be vigilant in verifying information from the internet.

Reatim

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Quote from: jflavus on May 19, 2024, 06:38:12 AM

What I am simply saying is the fact that I need something, some sort of a website that will teach me all I need to know about cryptos and alts.

There are websites that can tell you about projects marketcap or basically the value of a coin or a project. For example coinmarketcap. The higher ones have relatively a much stable price than the smaller ones, and I think that’s the best you can get.

You’d have to do the rest of decisions for yourself. No website can do that for you.

jflavus

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When you are investing in altcoins or checking out the project, what do you generally look at?

-What are the most important specs of the coin?
-How long do you wait normally?
-What are some metrics on social media or price implication that it might pump next?
I want to learn as I know some basic price action analysis anyway. I know how to identify support and resistance, when to enter when to exit and cant use future so I am feeling pretty safe when it turns out to be carnage out there.

What I am simply saying is the fact that I need something, some sort of a website that will teach me all I need to know about cryptos and alts.
On twitter, people are like oh I made 7x in a week, 2x in two days.. Mate how do you find those coins? How did you turn 4.8k into 40million or whatever.. This is the thing I want to learn, busting my ass off at work, after a long shift go to a rental room, spend hours trying to find something good to invest and still losing money.. I have been in this market since December and slowly the gains turned into losses.. There must be something I am missing out..

What could that be?

mk4

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You seem to be focusing too much on the already 'trending' coins instead of buying things that are just getting off the ground; likely buying close to the top and stuff.

But yea, the current market has been pretty hard on altcoins in general as the sustainable pumps are mostly with majors.

Quote from: jflavus on May 18, 2024, 02:55:01 PM

I see people on X constantly making money and getting multiple x's on their portfolio meanwhile I am draining my hard earned money on the market..

Mate that's how it works; just like how you mostly see documentaries of people who made it, not those who failed. People will want to flex their wins but not show their losses due to ego. People still mostly lose money in the trading market in general.

Kelward

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Quote from: Reatim on May 18, 2024, 03:19:19 PM

Quote from: jflavus on May 18, 2024, 02:55:01 PM

What are your recommendations for me? Which platform is good to learn more or at least get ahead of the curve before I lose all my money..

I can’t promise you to get ahead of the curve before everyone else.

However something that always happens to a lot of investors is their coins not going the way they expected or planned to. What to do in case loss starts to occur? Have you considered doing stop-loss orders? You set a specific amount and sell at the time the coin reaches that price. That way you get to take out your coin before anyone else follows.

Stop lose is very helpful to traders in order to minimize loses, so if you're on stop lose, it'll be good to cultivate the idea, trading is hard and risky, you need to understand these facts.

Also the OP has been told so far on this thread that it's better to hodl reputable top altcoins, even when their prices dips, they will not dump on you, only a matter of time and they'll start to pump and become profitable for you. There are more scam projects in the crypto space than the legit, so in addition to carrying out research on altcoins that are relatively unknown, you should invest the amount that you can afford to loose.

Bushdark

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Quote from: jflavus on May 18, 2024, 02:55:01 PM

Hello all,

I have some important questions to ask about the market Altcoin market currently. I have been trying to find some altcoins to invest as currently I am making loss in whatever I buy and wondering if everyone else is in the same situation or living the same situation due to very volatile BTC DOM.

First thing first, I want to follow some useful platforms to understand which coins can be useful for spot trading since I can't use future in the UK.
I have lost almost 60% of what I invested and am following the websites below;

- https://www.rootdata.com/trending / This is to see what is trending and what I can get.
- https://dune.com/dyorcrypto/relative-strength-crypto-narrative / This is to see which narrative to hold and which narrative is strong against BTC.
- https://token.unlocks.app/ This is for token unlocks.

I still can't seem to earn any money, and seem to be losing my money. I am actually making loss on my own investment.

I need some help and any ideas, suggestions/ recommendations would be useful. You can suggest a platform, or a link for me to read. I go on X too, try to keep myself posted and updated, currently been HODLING on THL, WLD, VANRY, DYM, FXS, ZEUS and all at loss..

What are your recommendations for me? Which platform is good to learn more or at least get ahead of the curve before I lose all my money.. I see people on X constantly making money and getting multiple x's on their portfolio meanwhile I am draining my hard earned money on the market..
What can you suggest ?

Thanks for reading my post.

You have to understand that making money in the crypto space is all about being patient.
You can't just started making money immediately you invested in a coin. You will have to hold for as long as possible so that you will be able to earn enough from the crypto market. Another thing you need to understand is that, you will always earn if you are able to understand the market and where to buy and when to sell. I think majority of investors do not understand this and that is one of the major reasons why they will keep complaining about the crypto market.

Bureau

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Rather relying on the platforms blindly and investing in crypto with high volatility why not start doing your own research. Go to CMC and look into the top 100 crypto listed according to the market capitalisation. Do you research by checking which crypto are relatively new in the market and which are relatively old. Diversify your portfolio by investing in both old and new crypto keeping in mind the narrative. Hold them as long as you can until you reach the desired financial outcome. Another important thing is that you need to have patience in crypto market as the market here is not as smooth as the share market.

bluebit25

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Quote from: jflavus on May 18, 2024, 02:55:01 PM

(...)
I still can't seem to earn any money, and seem to be losing my money. I am actually making loss on my own investment.

I need some help and any ideas, suggestions/ recommendations would be useful. You can suggest a platform, or a link for me to read. I go on X too, try to keep myself posted and updated, currently been HODLING on THL, WLD, VANRY, DYM, FXS, ZEUS and all at loss..

What are your recommendations for me? Which platform is good to learn more or at least get ahead of the curve before I lose all my money.. I see people on X constantly making money and getting multiple x's on their portfolio meanwhile I am draining my hard earned money on the market..
What can you suggest ?

Thanks for reading my post.

Looking at the list, I understand why you are losing money, you are probably the type of person who has not learned the basics and only relies on news on social networks X, TG, YT....

And the projects you mentioned have something I've heard through rumors about price reductions, a trap to prey on newbies' fomo mentality that trust has been taken advantage of.

IMO, you should start over with things if you recognize the potential of bitcoin, eth,... or some things that might be worth speculating on (capability, general market state, team, strategy, plus copper, ...) Even looking for things based on trends also clears up the risks, but if there are only risks, you should look again to see what you are approaching.

So I also wish you soon find joy in the crypto space, not CRY.

Churchillvv

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First this is th best place you have found in the crypto world, here you will get real time advises on how to go about your trade and investments.

One major mistake you have made before now is relaying on your own knowledge about crypto to trade or hold crypto. Most of the coins or assets you hold are not known to me and for you to have been lossing in bitcoin is because you are investing in bitcoin for a short term purpose, most of the people buying bitcoin are for the purpose long term and after a 4yrs circle that bitcoin revolves and reaches a new ATH your profit is guaranteed.

No for you to start making good profit you need to start buying top altcoins to be in profit and you need to be strategic when buying. Strategic i mean is buying during dips and selling during high markets.

Additionally you need to read more threads in this board to be acquainted with basic knowledge of Altcoin trading market. I'm not an altcoiner so I can't give more than this, in subsequent time more knowledged members will give you better advises.

Reatim

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Quote from: jflavus on May 18, 2024, 02:55:01 PM

What are your recommendations for me? Which platform is good to learn more or at least get ahead of the curve before I lose all my money..

I can’t promise you to get ahead of the curve before everyone else.

However something that always happens to a lot of investors is their coins not going the way they expected or planned to. What to do in case loss starts to occur? Have you considered doing stop-loss orders? You set a specific amount and sell at the time the coin reaches that price. That way you get to take out your coin before anyone else follows.

btc78

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Try investing in top coins first. They are less volatile than other altcoins and considered much safer compared to their counterparts. When you are on a losing streak like this, it might make you frustrated and you might end up making emotional-driven decisions.

How do you decide when to enter and exit the market? Do you do market analysis? That usually is quite an accurate way to enter or exit the market.

Topic: Important Questions about the Market and Alts (Read 171 times)