Tricky situation for Altcoin investment

AnonBitCoiner

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Quote from: Adreman23 on November 19, 2023, 07:13:18 PM

Newbe in crypto sometimes rush things. They hear rumors, get excited, and invest without checking. They might not realize their mistake until it's too late. It's important to be careful and do some research before jumping in.

Research is needed in every business because if you don't investigate and do what others wants then it will be a foolish idea. Altcoins are profitable but one should not think that he will find the exact similar outcomes which others because crypto does not treat everyone in a same manners as everyone uses different strategies. It is common mistakes of people that when someone tell them about a profitable altcoins and then says that this altcoins is full of advantages then people will not ask to know the fact but will become greedy to earn more so in such way they choose wrong altcoins.

ivankoh

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Most mistakes are greed and impatience. Alcoin is undervalued, has huge growth potential, but instead of patiently holding to maximize profit goals, they sell - a mistake that comes from patience. When we were in the early stages, the trend had not yet exploded, they were looking for x10- x100 and pursuing ponzi, fomo models. The profit growth of altcoins is greater than that of bitcoin is undisputed, but if you miss bitcoin and do not apply portfolio diversification, it is difficult to win.

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Newbe in crypto sometimes rush things. They hear rumors, get excited, and invest without checking. They might not realize their mistake until it's too late. It's important to be careful and do some research before jumping in.

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Quote from: Raflesia on November 19, 2023, 05:20:17 PM

Quote from: Samlucky O on November 18, 2023, 09:14:22 AM

I have made several mistakes in regards to this, before now I always see that bitcoin price is too epensive to afford and when I noticed that apart from bitcoin there were many other cryto currencies to invest in, so I decided to buy those altcoin because I see them cheaper not consedring the market cap and dominance. infact these factors i made mention was not in my mind and morover, how would I have known such thing was the factor to consider before buying a coin. Consedring the level of my understanding then. After buying them and expecting them to boom dey crushed to zero so when I came yo this forum I was able to spot the difference of coin that has potential and the ones with zero potential.

Almost everyone has felt the same way and you are not alone in feeling that way because I also in the previous few years always leaned on altcoins because I thought bitcoin was something I couldn't touch but the losses we got in altcoins made me realize enough that I made a mistake where I didn't do what I really had to do from the start (being in bitcoin) and instead chose some unclear projects which is the best experience that what we did in the past will eventually be a good experience for us to apply in the future so that things like that don't happen again.
It's been a few years that I've been in bitcoin and started to reduce my activity in altcoins and maybe even for this year I've never been in altcoin even because of my focus on bitcoin and right now I'm quite comfortable with what I'm doing.
Not that I invite you all to be in bitcoin and leave altcoin because it is your right to be anywhere but if you really want to be in altcoin then you have to be more careful because the risk will be much greater and keep the main focus is bitcoin first.

The logic behind investing in altcoins may seem to make all the sense in the world, as with a higher volatility and a lower market cap the greater the potential rewards can be for the traders that take the risk of trading those coins, however the potential losses people can accumulate are huge as well, and when compared to the safer road which is to just invest in bitcoin and hold for a long time, many traders begin to question their decision to go for altcoins when such a good alternative is available to them.

Raflesia

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Quote from: Samlucky O on November 18, 2023, 09:14:22 AM

I have made several mistakes in regards to this, before now I always see that bitcoin price is too epensive to afford and when I noticed that apart from bitcoin there were many other cryto currencies to invest in, so I decided to buy those altcoin because I see them cheaper not consedring the market cap and dominance. infact these factors i made mention was not in my mind and morover, how would I have known such thing was the factor to consider before buying a coin. Consedring the level of my understanding then. After buying them and expecting them to boom dey crushed to zero so when I came yo this forum I was able to spot the difference of coin that has potential and the ones with zero potential.

Almost everyone has felt the same way and you are not alone in feeling that way because I also in the previous few years always leaned on altcoins because I thought bitcoin was something I couldn't touch but the losses we got in altcoins made me realize enough that I made a mistake where I didn't do what I really had to do from the start (being in bitcoin) and instead chose some unclear projects which is the best experience that what we did in the past will eventually be a good experience for us to apply in the future so that things like that don't happen again.
It's been a few years that I've been in bitcoin and started to reduce my activity in altcoins and maybe even for this year I've never been in altcoin even because of my focus on bitcoin and right now I'm quite comfortable with what I'm doing.
Not that I invite you all to be in bitcoin and leave altcoin because it is your right to be anywhere but if you really want to be in altcoin then you have to be more careful because the risk will be much greater and keep the main focus is bitcoin first.

Kelward

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Quote from: AakZaki on November 19, 2023, 01:23:07 PM

Quote from: Kelward on November 18, 2023, 03:17:32 AM

Eventually I'd have to diversify and invest in altcoins, but I'm going to be very choosy when I do so, because I'll not want to gamble my small fund. A lot have been said about new altcoins, how their high profits can turn to lose overnight, and their value becomes worthless, I know that this theory doesn't apply for the whole new altcoins, but I'm not one to take high risks.

As I stated in my previous post, I'll only go for top altcoins, nothing more. Maybe when i start with them then I might consider stretching my diversification into other altcoins.

As I said before, my venture into altcoins will start with Ethereum, BNB and other top altcoins, gradually I can be going down the ladder of altcoins as they are listed in Coingecko.

It would be good if you choose the top altcoin as your investment and consider each altcoin you choose. Don't just get caught up in altcoins that don't have good development. Diversification is necessary, but diversify into altcoins that are proven to be good.

Thanks for seeing this through my lens, it won't make financial sense if a guy like me that doesn't have much capital should choose a higher risk investment that has potential of losing my capital, in the name of making more profit.

If the coin turns around unfavorably then it's all back to square 0, and that kind of risk doesn't work out for me, so that's why I'll rather put my money on where I'm quite certain that I'll have ROI even if the profit will not reach that of the promises of hyped altcoin projects.

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Quote from: Kelward on November 18, 2023, 03:17:32 AM

Eventually I'd have to diversify and invest in altcoins, but I'm going to be very choosy when I do so, because I'll not want to gamble my small fund. A lot have been said about new altcoins, how their high profits can turn to lose overnight, and their value becomes worthless, I know that this theory doesn't apply for the whole new altcoins, but I'm not one to take high risks.

As I stated in my previous post, I'll only go for top altcoins, nothing more. Maybe when i start with them then I might consider stretching my diversification into other altcoins.

As I said before, my venture into altcoins will start with Ethereum, BNB and other top altcoins, gradually I can be going down the ladder of altcoins as they are listed in Coingecko.

It would be good if you choose the top altcoin as your investment and consider each altcoin you choose. Don't just get caught up in altcoins that don't have good development. Diversification is necessary, but diversify into altcoins that are proven to be good.

kentrolla

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Quote from: mirakal on November 18, 2023, 06:58:51 PM

Quote from: kentrolla on November 05, 2023, 04:33:27 AM

I would just like to make everyone cautious about the current situation as it's a period which can make or break you based on your investment strategy. It's all about Altcoin investment and most of the newbie try their luck by investing into Altcoin whenever there are rumours of bull Run and the reason they prefer Altcoin over bitcoin is that they think Bitcoin is already priced higher and it would not get pumped multiple fold any further and they think Altcoin is price priced at single digit or double digit so they can grown thousand folds but that's not the case as it's a common mistake made by newbies as they just look at the market price instead of looking total supply of Bitcoin and Altcoin, they need to consider total supply of Altcoin and calculate it with the price they expect it to reach and think if it's even possible. I would suggest sticking to top Altcoin and Bitcoin.

Please share your opinions on common mistake newbie makes when market trends upward.

That's the reason why most of the newbie investors are losing because they enter the market when bitcoin price is bullish, and because its quite expensive, resorting into altcoin investing could be their best option. At first, the idea might be working but when the market suddenly crash and altcoins prices have been dropping so badly, that's when they realized that risking their money into altcoins is not worthy and might only put them at the losing end, losing their money that were supposed to risk in bitcoin.

However, we can't blame that as they only invest at a beginner's point of view. Without prior research and making them totally aware how altcoins can be tricky and deceiving, these newbies will definitely end up quitting after losing significant amount.

Yeah it's sad to see so many newbie losing money and i have personally tried stopping few from investing when Bitcoin is at peak but we fail besse of peer pressure and the kind of hype and attention it gets when it's at peak and people anyways end up taking entry at the peak market season, Altcoin I wouldn't recommend newbie unless we are at the rock bottom of bearish market and that too with few conditions. Not all the altcoins are risky there are altcoins that outperforms bitcoin in terms of returns but we need to do our research, for example I entered SOL when it was around $8 not because I though it would cross $250 like it did last time but I knew atleast it would give 3x to 4x and it happened. Newbie just need some more market exposure and how market trend. I am aligned with your response.

Ben Barubal

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Quote from: kentrolla on November 05, 2023, 04:33:27 AM

I would just like to make everyone cautious about the current situation as it's a period which can make or break you based on your investment strategy. It's all about Altcoin investment and most of the newbie try their luck by investing into Altcoin whenever there are rumours of bull Run and the reason they prefer Altcoin over bitcoin is that they think Bitcoin is already priced higher and it would not get pumped multiple fold any further and they think Altcoin is price priced at single digit or double digit so they can grown thousand folds but that's not the case as it's a common mistake made by newbies as they just look at the market price instead of looking total supply of Bitcoin and Altcoin, they need to consider total supply of Altcoin and calculate it with the price they expect it to reach and think if it's even possible. I would suggest sticking to top Altcoin and Bitcoin.

Please share your opinions on common mistake newbie makes when market trends upward.

What you mentioned is correct; the only problem is that newbies who enter cryptocurrency always think that it is easy to make money in crypto, or others think that cryptocurrency is also gambling. These are just some of their reasons for being here.

But there are some who don't immediately think about the previous ones if the reason is mentioned, but they just want to study it first and know everything so they don't have problems later because they already have knowledge and ideas about this matter. Although I also agree that it is safer to base investment on top altcoins here,

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Quote from: kentrolla on November 05, 2023, 04:33:27 AM

I would just like to make everyone cautious about the current situation as it's a period which can make or break you based on your investment strategy. It's all about Altcoin investment and most of the newbie try their luck by investing into Altcoin whenever there are rumours of bull Run and the reason they prefer Altcoin over bitcoin is that they think Bitcoin is already priced higher and it would not get pumped multiple fold any further and they think Altcoin is price priced at single digit or double digit so they can grown thousand folds but that's not the case as it's a common mistake made by newbies as they just look at the market price instead of looking total supply of Bitcoin and Altcoin, they need to consider total supply of Altcoin and calculate it with the price they expect it to reach and think if it's even possible. I would suggest sticking to top Altcoin and Bitcoin.

Please share your opinions on common mistake newbie makes when market trends upward.

That's the reason why most of the newbie investors are losing because they enter the market when bitcoin price is bullish, and because its quite expensive, resorting into altcoin investing could be their best option. At first, the idea might be working but when the market suddenly crash and altcoins prices have been dropping so badly, that's when they realized that risking their money into altcoins is not worthy and might only put them at the losing end, losing their money that were supposed to risk in bitcoin.

However, we can't blame that as they only invest at a beginner's point of view. Without prior research and making them totally aware how altcoins can be tricky and deceiving, these newbies will definitely end up quitting after losing significant amount.

glendall

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Quote from: btc78 on November 05, 2023, 07:24:20 AM

have seen newbies regretting not buying btc earlier at a lower price and are now finding for newly launched altcoins that could potentially be the next btc or even better than btc

they need to understand that a lot of these projects don’t reach the value they expect and that these new altcoins can’t just surpass btc like that in a snap

true and that regret will come when Bitcoin has exceeded the target ATH value, and the altcoin they chose to invest in is still stuck at a value that is not too high from when they bought it. And sometimes the altcoin slowly disappears because it loses the hype

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I have made several mistakes in regards to this, before now I always see that bitcoin price is too epensive to afford and when I noticed that apart from bitcoin there were many other cryto currencies to invest in, so I decided to buy those altcoin because I see them cheaper not consedring the market cap and dominance. infact these factors i made mention was not in my mind and morover, how would I have known such thing was the factor to consider before buying a coin. Consedring the level of my understanding then. After buying them and expecting them to boom dey crushed to zero so when I came yo this forum I was able to spot the difference of coin that has potential and the ones with zero potential.

Best-mary

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Quote from: kentrolla on November 05, 2023, 04:33:27 AM

I would just like to make everyone cautious about the current situation as it's a period which can make or break you based on your investment strategy. It's all about Altcoin investment and most of the newbie try their luck by investing into Altcoin whenever there are rumours of bull Run and the reason they prefer Altcoin over bitcoin is that they think Bitcoin is already priced higher and it would not get pumped multiple fold any further and they think Altcoin is price priced at single digit or double digit so they can grown thousand folds but that's not the case as it's a common mistake made by newbies as they just look at the market price instead of looking total supply of Bitcoin and Altcoin, they need to consider total supply of Altcoin and calculate it with the price they expect it to reach and think if it's even possible. I would suggest sticking to top Altcoin and Bitcoin.

Please share your opinions on common mistake newbie makes when market trends upward.

One common mistake I did earlier and I have to learn the hard way is buying a coin when it gets hyped up. I never knew that was the period I should have been selling. Again, not knowing that there different category of alts

But now, I shared differences in all these alts, how to navigate them and make use of opportunity when you see one

https://bitcointalksearch.org/topic/m.63092909

Kelward

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Quote from: AakZaki on November 17, 2023, 10:46:57 AM

Quote from: Kelward on November 17, 2023, 06:59:09 AM

This is the same reason that I'm still sticking to only bitcoin investment, because from what was being said about altcoins, makes me to be skeptical about putting my money in them. Although I know that there are worthy and time tested top altcoins like Ethereum, but I'm yet to leave the apron of bitcoin yet.

~snip~

Will you only stay in Bitcoin and not diversify your assets in other top altcoins.
If you are skeptical it should be based on your research, not just your fears. Many altcoin investments provide success depending on what altcoin you hold. I'm not against bitcoin, but diversification is necessary to support other benefits and not just bitcoin.

Eventually I'd have to diversify and invest in altcoins, but I'm going to be very choosy when I do so, because I'll not want to gamble my small fund. A lot have been said about new altcoins, how their high profits can turn to lose overnight, and their value becomes worthless, I know that this theory doesn't apply for the whole new altcoins, but I'm not one to take high risks.

As I stated in my previous post, I'll only go for top altcoins, nothing more. Maybe when i start with them then I might consider stretching my diversification into other altcoins.

As I said before, my venture into altcoins will start with Ethereum, BNB and other top altcoins, gradually I can be going down the ladder of altcoins as they are listed in Coingecko.

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Quote from: Romeotom on November 17, 2023, 12:10:31 PM

Crypto floating market at this time you need to do a lot of research to make a best investment. Because at this time most of the new project is memecoin which is more risky. Moreover, the best tokens are appearing in the red market at this time so they will be the best investment. On the other hand there is more criticism about bull market but timing should be followed because bull market will present suddenly and then your time to buy will be exceeded.

We have both crazy and good moments in the system. Because time is money, we must make the best use of it.We followed what we know to be correct rather than random ventures about which we are uncertain. We all have various perspectives on the market. Most traders can trigger appropriate entries in the bear season but are unable to trigger any solid trades in the bull season, and vice versa. Cryptocurrency is potentially dangerous as customary, so we take our time to execute precisely and listen to projects at hand and if we're taking a project, it shouldn't be of any activity than giving attempts.

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Crypto floating market at this time you need to do a lot of research to make a best investment. Because at this time most of the new project is memecoin which is more risky. Moreover, the best tokens are appearing in the red market at this time so they will be the best investment. On the other hand there is more criticism about bull market but timing should be followed because bull market will present suddenly and then your time to buy will be exceeded.

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Quote from: kentrolla on November 05, 2023, 04:33:27 AM

Please share your opinions on common mistake newbie makes when market trends upward.

Just invest on huge caps altcoins like Ethereum, ADA, XRP and so on that is listed on top 10 then you are safe on crazy swing of Altcoins since huge has a very low chance to wreck the price out of nowhere without Bitcoin dumping.

Avoid buying altcoins that is low marketcap and trading volume since this kind of coin can erase all your capital in just a short period of time. Yes, profitability is high but the risk of losing all your assets too is also high so it’s not really worth it. Much better to secure gains by investing on high confidence assets since it will pump later on following Bitcoin.

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Quote from: kentrolla on November 05, 2023, 04:33:27 AM

they just look at the market price instead of looking total supply of Bitcoin and Altcoin, they need to consider total supply of Altcoin and calculate it with the price they expect it to reach and think if it's even possible. I would suggest sticking to top Altcoin and Bitcoin.

Please share your opinions on common mistake newbie makes when market trends upward.

Total supply is also matters but where they deceived to invest with the 24-hour trading volume and it's possible to create fake liquidity for any token especially if it's got less market cap value by whales or even by the exchanges themselves for bumping and dumping of particular tokens. Newbies blatantly invest in projects just based on 24-hour top gainer/ 1 1-week top gainer and so on without researching further about the projects.

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Quote from: Kelward on November 17, 2023, 06:59:09 AM

This is the same reason that I'm still sticking to only bitcoin investment, because from what was being said about altcoins, makes me to be skeptical about putting my money in them. Although I know that there are worthy and time tested top altcoins like Ethereum, but I'm yet to leave the apron of bitcoin yet.

~snip~

Will you only stay in Bitcoin and not diversify your assets in other top altcoins.
If you are skeptical it should be based on your research, not just your fears. Many altcoin investments provide success depending on what altcoin you hold. I'm not against bitcoin, but diversification is necessary to support other benefits and not just bitcoin.

Kelward

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Quote from: Tytanowy Janusz on November 05, 2023, 04:43:02 AM

The problem is that this is a mistake made by new investors at the end of the Bitcoin bullrun, and they rarely read before making a purchase. I saw the peak of this in 2018, when 10 new threads appeared every day asking "what coin to buy for less than $1". And crypto portals, instead of teaching, provided what the reader was looking for, recommending shitcoins as long as they had a low price per piece.

My thread about this written in 2018.
difference between 1$ coin and 1000$ coin

This is the same reason that I'm still sticking to only bitcoin investment, because from what was being said about altcoins, makes me to be skeptical about putting my money in them. Although I know that there are worthy and time tested top altcoins like Ethereum, but I'm yet to leave the apron of bitcoin yet.

I know that naturally newbies will want to a coin that a small amount can purchase, compered to bitcoin higher price, they feel altcoins will give a higher profit in a short term. But we know that the end justifies the means, because bitcoin will always stand firm in the crypto market, while most of these altcoins will fade away.

I'm lucky that I heeded to this advice, because for now it's only bitcoin for me, surely in the nearest future, when I'm more well off, I'll venture into altcoins, but I'll not go for new coins. I'll invest in old renowned and trusted altcoins, that have lasted in the crypto market.

Topic: Tricky situation for Altcoin investment (Read 597 times)