Bag holding any altcoin is the worst thing anybody can do specially when you are talking about a long term bag holding for a supposedly "bull market" that may never come. Because during the very LONG period of time that you are bag holding, that altcoin will continue to dump slowly but surely.
Just look at any altcoin in long run. From etheruem that is the biggest and most popular shitcoin and was once worth 0.15BTC and now is only worth a small fraction of that all the way to the most unknown shitcoin. They all get dumped.
You should only get into the altcoin market when the pumps begin and sell to get out before the dumps begin.
Short sighted maybe, though if you are into popping into existence a new coin (or token even maybe, since nowadays a lot of casual passers-by seem to conflate and/or confuse the terms) any time you feel like it that seems natural.
If you are into a coin - maybe even its main supporter in the literal sense that almost the entire column of buy offers for it are your offers - yet are not the original [whatever: team, group, author, developer, etc] thus never yet owned every single one of the minted coins, then hey the more it dumps the closer you are to having "bought back" all those "IOUs". So actually tokens might be better than coins in some ways, since usually with coins if you own even over 51% you have yourself become potentially a threat.
If other parties can or did "mint" your money (IOUs) that can make them harder to "redeem" aka "buy back", which maybe it would be very helpful to think of that also being "aka buy" in the sense that if when you consider buying any of them you think to yourself by buying them you are become at the least a dealer of them thus should plan to be able to give back your own end-customers you sell it to a decent percentage "return policy"; or an "issuer" of them in the sense that if you eventually do sell them you are issuing them back "into the wild" increasing the chance who-ever bought them from you turns out to be a "dumper" who will trash the buy-sides thus the value of any you still hold.
Surely one's objective on getting involved in any implementation of IOUs / coins / tokens ought to be to make them more valuable than they were when you found them; and if you do issue them yourself that ought to be particularly true.
When getting into the big alts you get closer and closer, as you get bigger and bigger, to "might as well just go play the Forex markets" since unless you are a multibillionaire of a scale enough to singlehandedly unbalance the pound sterling as some guy did some decades ago you probably cannot really do a whole lot yourself to help ensure the currency you are working with will if you have anything to say about it be going up or sure as heck trying to.
The whether you have anything to say about it part though is where the bigger they get the less you are probably going to be able to say about it, oops clearly in that common phrase say should be read as do, I suppose...
-MarkM-
EDIT oops I forgot that going into this post I intended to also comment on the quote's second part, where I noticed the point is they went down
relative to bitcoin regardless of the fact that fiat went down, as fiat does and even is often designed to, against darn near everything thus is no basis for a comparison at all.
