Tricky situation for Altcoin investment - page 5.

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Quote from: kentrolla on November 05, 2023, 03:33:27 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.

Just for clarification, total supply and circulating supply details are not enough to tell how valuable a coin will turn out to be, we have seen countless projects with low supply like 10 million and turn out to be a shitty show while a billion supply might do well if the team control how tokens are been release with a proper schedule mechanism. You need to check the team background and what they represent individually and their past record. You also need to check what they aim, not some unrealistic products that they will promise and fail. That's what all the projects does today, just hype and lies.

I'm waiting to see what is going to be the opium of the new trend that will drive people crazy to invest into altcoins this bull run. Last season was full of crazy memes and it comes to a point where people were acting like zombies, hard to control because to tell them to run away from these tokens is like telling them to stop eating their favorite food but look at all the meme projects today, I pity some people that pour their live savings into this HYIP investment because they are nothing but ponzi investments.

Spaceman1000$

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Quote from: kentrolla on November 05, 2023, 03:33:27 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.

Since there are situations whereby newbies are afraid of investing on altcoins, it is best they stick to top altcoins and Bitcoin, at least those are verifiable and they can be rest assured that their investment is safe.
Newbies shouldn't only invest in atlcoins because of rumours of bull run, they should be making their investment based on the potentially a coin has and how that coin can stand the test of time, that's why you need to do your research first.

cryptoaddictchie

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Have a point! So making sure that if you buy an altcoin you could see the possibility of reaching its potential marketcap and upside chance. Well even though its low mcap it doesnt mean it will reach to other level. Of course that depend on the quality of that altcoin in orurder to enjoy the bull run. But if its not the right pick then likely youll just burn your money.

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Quote from: kentrolla on November 05, 2023, 03:33:27 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.

I can’t speak for all newbies, but I can tell you about some of my mistakes when I was that newbie.

Buying overpriced shitcoins, which after the completion of the bullrun rapidly became cheaper and instead of profit, losses were obtained, multiples of 3-5 times. And sometimes more. The price of some even dropped to zero. 100% loss. If this money were invested in a bitcoin, then even taking into account subsequent drops and increases in price, in the end it would still lead to income.

I believe that when the market is moving up, you should not buy anything at all, unless you are looking for a very long-term investment.

To me, almost all altcoins look like fly-by-night coins created for the sole purpose of collecting newbie money and disappearing into the sunset.

JeffBrad12

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I too noticed that many of those so called altcoin investors are just only too fixated on the value of each coin not knowing that if even the value is just $1 if there's billions of them then it can be highly overpriced even more so compared with bitcoin since bitcoin total supply is limited.
its the case with coin like ripple, many people consider the value of each coin to be low based on their own clouded judgement not knowing the fact that the total supply is quite literally so many its the reason with such low value for each coin it could have such massive market capitalization.
this should be a concern because it could also be the factor that decides whether this coin gonna have pump in the future.

khiholangkang

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Quote from: kentrolla on November 05, 2023, 03:33:27 AM

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

In addition to what you mentioned, the average beginner did the mistakes always greedy, for example he bought Altcoin and then had a profit of more than 60% of the price he had bought before, which in the end he lost the profit and the altcoin he returned to the original price He bought or even made him a loss that forced him to have to hold the altcoin more and more, the most severe in the mistakes of the beginner was Fomo, this was the vulnerable for beginners in doing his mistakes at the Crypto Market.

The difficult part to be considered in my opinion is not a comparison between Bitcoin and Altcoin, of course everyone will agree that Bitcoin is excellent forever despite the very high price. Nevertheless must be made the main asset that is most owned.

But the possibility that cannot be denied that the average person wants to get a higher profit with small capital, and the place must be Altcoin as an alternative solution, although this thought is wrong but many people take more risk to benefit. For myself the most confused is altcoin which can give a high roi to bullrun later. Grin

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Many altcoins are being hyped, and yes following that trend might put you on a bigger risk and that's why it's advisable to deal with the top altcoins only for your long term goal and don't forget to hold Bitcoin too. The market is full of hyped projects and not all are worth the risk, always remember to stay cautious and deal with the legit project, do you own research too before investing. Good altcoins along with Bitcoin will rise higher in time, have more patient.

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Quote from: Tytanowy Janusz on November 05, 2023, 03:43:02 AM

-snip-
My thread about this written in 2018.

Good writing, reminds me of years with a dark history for my investment portfolio. With researchless, I tended to look for luck instead of profit in the hope that the hype will be on my side. The amount of around $2.7k is only about $55 left in just over 2 months on the shitcoin ICO.

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Quote from: kentrolla on November 05, 2023, 03:33:27 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.

I think that's always the case at any point in time imo. There can be instances where you're able to get from rags to rich type of instance, but those are rare, like really rare. In most cases, scenarios like that only happen in rich people, and well, they only get richer. As for your average joe? They mostly end up losing everything they invested. Not every coin out there is the 2nd Bitcoin or Ethereum. It's kinda funny as well (self-insult here really since I did the same) how most newbies count not-realized profits into, well, profits already.

There's also the idea of newbies investing in a coin when it's on a high. That's a mistake. Most highs often don't last long in the first place so investing at the peak only invites losses. Invest when it's down instead. If you're that afraid of investing in a coin that would only go down, Then naturally do prior research.

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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

kentrolla

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Quote from: Tytanowy Janusz on November 05, 2023, 03:43:02 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

Yeah that's the problem as people think if value of a coin is under $1 they assume that it can pino like Bitcoin or Ethereum and other altcoins which has pumped massively. I have even notices some new coins and their prediction post listing which will give you higher figure than the overall valuation of current crypto market but they use terms like burning x percentage of tokens to achieve their target which is unrealistic, atleast this time we need to keep the forum educated and whenever we see such thread we need to educate them and make posts like you did in the past so that new investors don't fall for these misinformation. The worst part is people don't even know what they are investing into as they just get into some coins which are dying assuming that the coin had dropped it's value over 90% so it may recover and they can gain bit end up losing even that. FTX was an example where some users starts investing even during the dump assuming it will recover.

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Like how they might think about a certain memecoin reaching $1 and coming with a lot of zeroes, maybe they like to see a lot of numbers so choosing altcoins is the way they think it's safe. But we all clearly know that Bitcoin is the main reason for this market to follow an up/down cycle. Similarly, I can think that one day bitcoin will reach $1M, and certainly at the present time, many people will consider that crazy

, it doesn't matter, everyone has their own investment position, and in general, exposure to the crypto market requires profit as long as we have a clear plan for it. Newcomers will need more time to go through what their predecessors have gone through. And then if they still stick around, I believe that with larger investment assets, people will prioritize Bitcoin and top altcoins.

Tytanowy Janusz

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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

kentrolla

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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.

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