Hello everyone, please write 5-10 cryptocurrencies in which you would invest, invest now or will invest for a long time. By long I mean from 3-5 years to 10. Except Bitcoin.
One of the biggest mistake that new investors make is thinking a long term investment without risk management. There is no doubt that long term investments to give better results then the short term ones, however, the theory completely depend upon the time you enter your position in that coin. If you are accumulating the coins at there bottoms, no doubt a long term will give you very good returns, however, just imagining the fact that the coin is mooning and it will moon further over the long term is not correct.
Your entrance have the biggest impact on your position.
I do accumulate coins for long terms and my long term is over 1-2 years, however, I always keep my eyes open for the market and market sentiments. If I am on real good profit and market does not look right, I book my profits and accumulate the same coin again during retrace.