If you decide to sell your altcoins, also consider the possible risks and costs associated with such transactions, including exchange fees, currency conversion fees, and potential loss of value due to price volatility. Before making an investment decision, it is best to consult a registered broker or financial advisor or seek advice from someone who has sufficient knowledge and experience in this area.
I think that without enough trading experience, it is better to study the underlying logic of Bitcoin and evolve yourself from a short-term investor to a long-term investor. 
Topic: What will you do in this case? (Read 579 times)
When trading or investing people need to always think about the risk to reward ratio, a risk reward ratio of 1:2 means you are willing to risk 1 dollar to win 2 dollars on a trade, if your system had an accuracy of 60% then this means that on average you will earn 0.8 dollars on average on each one of those trades for each dollar you were willing to put at risk, however the risk of investing in new coins is so high that it is simply not worth it and yet many people keep investing in them.
The risk of investing in new coins is justified when you invest among the first investors, rather than buying a token at the top of the market after you've added it to the exchange. If you invest in a new project at the price of early investors, you only lose money completely if the project dies completely and has zero liquidity. But if the project still manages to develop, you can expect a profit of thousands of percent.
I think it's just better migrating over the coins that's already high ranked and high trading volume at least that way you could easily get liquidity and they are gonna be the last ones that gonna be losing their value in the long run, the thing with investing in new projects like the ones you mentioned added with the fact that they are being invested by some problematic platform is that they could literally went into zero real quick, so I think it's better if you just rethink in regard of your investments in general and take safer approach in term of managing your investments risk, the current circumstance is bad enough and need proper and diligent way of managing your investments so that you won't lose many of your investments and it requires good risk management and investment allocation.
When trading or investing people need to always think about the risk to reward ratio, a risk reward ratio of 1:2 means you are willing to risk 1 dollar to win 2 dollars on a trade, if your system had an accuracy of 60% then this means that on average you will earn 0.8 dollars on average on each one of those trades for each dollar you were willing to put at risk, however the risk of investing in new coins is so high that it is simply not worth it and yet many people keep investing in them. A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
He could keep it if he wants but consider the higher risk. But if that will happen to me, I'd sell them without hesitation just to give myself peace of mind. You can't sleep well if your investment is connected to a questionable and unreliable exchange. A good suggestion is to sacrifice these coins and choose Bitcoin instead of sticking to altcoins. Perhaps, they are dumping and the future is too unclear, not unless if they will invest in known altcoins like ETH. Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
If I were you OP, give them some time to think. I guess they are already old enough to assess the situation and I believe they know what happens to FTX now.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
I will do in the case of this person that I will immediately exchange and replace my bag of these coins for other coins because their two projects will follow FTX of bankruptcy,.......Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
I think it's just better migrating over the coins that's already high ranked and high trading volume at least that way you could easily get liquidity and they are gonna be the last ones that gonna be losing their value in the long run, the thing with investing in new projects like the ones you mentioned added with the fact that they are being invested by some problematic platform is that they could literally went into zero real quick, so I think it's better if you just rethink in regard of your investments in general and take safer approach in term of managing your investments risk, the current circumstance is bad enough and need proper and diligent way of managing your investments so that you won't lose many of your investments and it requires good risk management and investment allocation.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
I will do in the case of this person that I will immediately exchange and replace my bag of these coins for other coins because their two projects will follow FTX of bankruptcy, it would be wise not to keep them in even for one day in my bag, It is good that you were aware that these coins were Alameda and FTX involved in them so you tell him to stay away from them unless he wants to lose his funds and risk it, There are a lot of good altcoins in the market that we can invest now at prices that are not expensive and that do not carry the risk of collapse like the FTT coin, so we all have to review the partnerships for the altcoins that we will invest and know everything about altcoins and if we find something that will affect the future on our investment and lead to The loss of our capital, we must leave it and move away from it immediately. Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
If you decide to sell your altcoins, also consider the possible risks and costs associated with such transactions, including exchange fees, currency conversion fees, and potential loss of value due to price volatility. Before making an investment decision, it is best to consult a registered broker or financial advisor or seek advice from someone who has sufficient knowledge and experience in this area.
Right now it seems like an extremely bad idea to sell anything. What is the point of selling when all prices are at the bottom? You should sell when all prices are high. Investing in cryptocurrencies implies, among other things, that you have to survive the crypto winter and wait for the market to dawn. If you should have sold, it should have been at the beginning of this year, not at the end of it. The most profitable strategy here is just HODL. This is just my opinion.
I personally feel that if there is still a chance to get out and it doesn't hurt you why not, I don't mean to say the project is bad but seeing the current conditions with Bearish still in the shadows of course the risk of altcoins being destroyed and not surviving is clearly quite visible and does not rule out the possibility your coin also has the opportunity to be like that.
But if you are sure that you will be kept, why not? But if you are not sure about it, then letting go is one good thing.
But if you are sure that you will be kept, why not? But if you are not sure about it, then letting go is one good thing.
Selling will be the last resort if a certain coin is in shaky condition during this market situation. If you want a good exit, better sell your nonpotential coin at a reasonable price and buy a potential coin that has a better resistance against the bear season. Choose coins that have a better chance of reaching a good value when the bull season approaches. If you had enough research about your coin, you'll know its capability and you'll have an idea if it's still good for holding or not.
Actually, with the current conditions, it would be better to be in something that is possible and of course bitcoin is a good choice than giving hope to several projects in alt which are not too certain.
I personally feel that if there is still a chance to get out and it doesn't hurt you why not, I don't mean to say the project is bad but seeing the current conditions with Bearish still in the shadows of course the risk of altcoins being destroyed and not surviving is clearly quite visible and does not rule out the possibility your coin also has the opportunity to be like that.
But if you are sure that you will be kept, why not? But if you are not sure about it, then letting go is one good thing.
But if you are sure that you will be kept, why not? But if you are not sure about it, then letting go is one good thing.
Selling will be the last resort if a certain coin is in shaky condition during this market situation. If you want a good exit, better sell your nonpotential coin at a reasonable price and buy a potential coin that has a better resistance against the bear season. Choose coins that have a better chance of reaching a good value when the bull season approaches. If you had enough research about your coin, you'll know its capability and you'll have an idea if it's still good for holding or not.
Some of them actually find such incidences as exit scam strategy! Better watch your investment carefully. This is why better choose bitcoin straight away and keep up with the market. Also let them also decide, try to be direction giver but ask them to decide themselves. No one is right in this market.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Firstly, not all altcoins are able to survive during this bear market, even if they can survive, they may not be able to reach their ATH again, as usual, commonly for altcoins that have quite similar ideas to others and are not powerful ones. Secondly, they are supported by FTX mostly. This is also the main reason why this altcoin may be falling down and cannot rise up as expected again. We also know that the FTX team is struggling with their project hard for now, moreover with their condition right now, I ma not sure that they may be able to support us again. The event they are supporting, will not give a big influence tot heir price.
Thirdly, if your friend is selling their cons, does this mean that they are lost from their initial price? If the loss is not too much, it is better to switch their investment to the Bitcoin, this is more promiisng than altcoins like them.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
FTX invested in a lot of projects in the last few years through Alameda and just because FTX was an investor in a project does not mean automatically that this project is now bad all of sudden just because FTX has gone bankrupt and is gone now. Of course you have to double check first how how the investment of Alameda was in those projects. I also think the worst thing that can happen is that the tokens that are owned by Alameda and therefore FTX could be sold off within a very short period of time if FTX is forced to pay back their debts to its creditors, but i don't really how that works or if that is realistic.
I personally feel that if there is still a chance to get out and it doesn't hurt you why not, I don't mean to say the project is bad but seeing the current conditions with Bearish still in the shadows of course the risk of altcoins being destroyed and not surviving is clearly quite visible and does not rule out the possibility your coin also has the opportunity to be like that.
But if you are sure that you will be kept, why not? But if you are not sure about it, then letting go is one good thing.
But if you are sure that you will be kept, why not? But if you are not sure about it, then letting go is one good thing.
If you decide to sell your altcoins, also consider the possible risks and costs associated with such transactions, including exchange fees, currency conversion fees, and potential loss of value due to price volatility. Before making an investment decision, it is best to consult a registered broker or financial advisor or seek advice from someone who has sufficient knowledge and experience in this area.
If people actually did that and they consulted with an experimented trader or investor then we could avoid most of the tragic scenarios we get to know almost every day in this forum, because no investor which has a high level of experience will waste their time investing in the thousands of useless altcoins that are released each year, for newbies it is better to concentrate on bitcoin and only on bitcoin as it is impossible for them to distinguish a good project from a bad one, and the case of the OP is just an additional example of this idea being true. OP was asking for some insights since last week. I wonder what was his response to the guy. Personally, I would really stay away from coins and projects that are connected with FTX and Alameda. Fuel dropped around 50% already while Mina lost a third of its price since November. I do not know how much influence and money Alameda and FTX invested into these projects but it is very possible that a withdrawal is imminent in order to cover the damages done to its clients and investors. Authorities are probably going to liquidate all of Alameda and FTX's assets.
It is clear that not just for this case, but in general if there is anything wrong with any project even once then I stay away from it and everyone else should too. We are living in a world where crypto is filled with shady people who do shady stuff, and even if you are a legit project, if you make a mistake just once then I will try to stay away from it and just look for stronger stuff. Doesn't mean that shady stuff suppose to be outside, it needs to be from inside to make sure I stay away.Like let's say ETH is legit, but someone used it to steal from people, that doesn't mean I will stay away from ETH, it needs to come from within, and FTX came from within.
If you decide to sell your altcoins, also consider the possible risks and costs associated with such transactions, including exchange fees, currency conversion fees, and potential loss of value due to price volatility. Before making an investment decision, it is best to consult a registered broker or financial advisor or seek advice from someone who has sufficient knowledge and experience in this area.
FTX and Alameda invest in a lot of altcoin projects as well as different crypto companies, I don't remember exactly how much they invested but probably no less than 100. so I don't think that those 100 projects and companies will also die after they go bankrupt.
The existence and development of the project depend on many factors, and most importantly the project development team, if they are really passionate about their project, they will have enough ways to overcome difficulties.
What I want to tell you and your friends is, investing in altcoins at this point is very risky, selling and switching to bitcoin would be the wiser choice.
The existence and development of the project depend on many factors, and most importantly the project development team, if they are really passionate about their project, they will have enough ways to overcome difficulties.
What I want to tell you and your friends is, investing in altcoins at this point is very risky, selling and switching to bitcoin would be the wiser choice.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
The fact that FTX invests in those two projects and when FTX goes bankrupt does not mean that they also die with FTX, there are many other investors investing in those two projects, not just FTX and Alameda.
Look at Solana, FTX is considered the biggest investor, and Sol's success is largely due to FTX, but it's just having some trouble at the moment, not dead. Whether a project will die or continue to grow depends on the project team, not a certain investor.
OP was asking for some insights since last week. I wonder what was his response to the guy. Personally, I would really stay away from coins and projects that are connected with FTX and Alameda. Fuel dropped around 50% already while Mina lost a third of its price since November. I do not know how much influence and money Alameda and FTX invested into these projects but it is very possible that a withdrawal is imminent in order to cover the damages done to its clients and investors. Authorities are probably going to liquidate all of Alameda and FTX's assets.
After several replies and suggestions, I guess he already knows how to respond.But in regards to holding coins that are connected to FTX and Alameda, fear and uncertainties usually come into our minds. It was our concern and it was advisable not to invest in these projects as the risk is too high. But if I were the OP, I suggest them to warn the possible results of investing in these projects so it was their decision to sell those coins and switch to another projects and keep them.
OP was asking for some insights since last week. I wonder what was his response to the guy. Personally, I would really stay away from coins and projects that are connected with FTX and Alameda. Fuel dropped around 50% already while Mina lost a third of its price since November. I do not know how much influence and money Alameda and FTX invested into these projects but it is very possible that a withdrawal is imminent in order to cover the damages done to its clients and investors. Authorities are probably going to liquidate all of Alameda and FTX's assets.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
It's better to sell all assets related to FTX, officially FTX has filed for bankruptcy and it will impact investors who hold assets related to FTX to sell, before the storm comes, sell immediately and don't be tempted to hold even though sometimes the 2 coins are rising.
even if you try to hold it in sometimes it will only be a waste of time,
as much as possible to make wise decisions
You don't directly tell them what decision to make, you can tell them what it means to sell these tokens, what are the advantages and disadvantages. Let your friend decide for himself. You can tell him about a few altcoins you are more optimistic about and talk about your thoughts, and then let him choose the altcoins he wants to invest in.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
I hate to say this but at the current situation we are looking at undecisive situation and that never ends with something that could be good enough for you. I know that if you switch to something else and make a profit then you could definitely end up with something big, but that doesn't mean that we are going to end up with that profit, maybe we won't be ending up with a profit at all.Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
This is why I have to say that this is going to be ending up with a loss? In that case we are going to be very upset, and if people here tells you something, they are telling their ideas but that doesn't mean we are right, or some will say A and others will say B and that's a trouble.
What I'll do in such situation is to sell off the token from any projects the duos are involved at any slight chance of making something relatively cool from it and look for some other projects to invest in. Although, it is always cool to diligently do your own research before investing in any project.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
It's better to sell all assets related to FTX, officially FTX has filed for bankruptcy and it will impact investors who hold assets related to FTX to sell, before the storm comes, sell immediately and don't be tempted to hold even though sometimes the 2 coins are rising.
What will you do in this case?
what I did when I saw the FTX and Alameda cases, I personally, if I haven't experienced a high loss, I will immediately replace the old altcoin with bitcoin, because buying bitcoin now will provide an opportunity for profit / capital from our investment in the previous coin, which can return in the next 1-2 years.
not if we hold on to the old coins that exist now, because the case for going up to the highest price will surely be tough
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
In my opinion Alameda and FTX are big investors in these two projects but these projects will not survive in the market for a long time. Their demand in the market is low and below the top currencies. For other currencies you can choose bitcoin ethereum BNB there are no restrictions on these currencies. Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Always the better idea must be not depending on a person or a company for the future of any cryptocurrency; since Elon Musk's explicit involvement into crypto space, I keep saying this. So, it would be a wise decision if you move into another coin is free from all kind of interruption of whales.What will you do in this case?
At this point I am accumulating KCS, WRX and waves; all these must be having strong future but right now trading bearish in recent times as per bitcoin sentiment hence this must be a great time to invest with. I am just stating what I doing but you must need to do your own due diligence before risking your funds. All the above bitcoin is trading at the best part of our life time, investing right now into bitcoin may not need any big analysis.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
As many people suggest selling everything is the best solution. Even though you have to accept a few percent loss, it's much better than being shocked by an unexpected crash. Alameda has been under scrutiny however the assets he invests in crypto are becoming a threat. Avoid branches related to Alameda, because the cases they face have an impact on the assets they invest. Added to the market conditions that are heading for a bear market, automatic altcoins will only find it difficult to secure their value, we don't even know for sure that they will return to provide a significant increase. Better to accumulate it to Bitcoin. Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Should have just question your friends about how they even invest on that in the first place? Based on friends recommendations?Tell them it's not your responsible if they suffer losses from their own actions and tell them to invest on Bitcoin and Ethereum since they are newbies to learn more about crypto trading in general.
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
We don't know if the price is significantly affected since SBF is arrested. But just be careful with any changes happen in the market. What will you do in this case?
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Since the ftx fiasco, I think many investors will rightly pull out of any project connected to that company, it seem whatever they touch will end up having issues in the long run, I recently read that Do Kwon blaming ftx and Alameda for the down fall of ust and luna. It seems the authorities are looking into this recent development.
It is up to your friend to do what he feels right but from the look of things, that company already messed up it's reputation, I doubt it will be business as usual for them anymore.
Not only should we stay away from projects related to FTX and Alameda, but at this stage, we should stay away from all altcoins, including the top coins that people call safe, IMO. The crash of FTX isn't over yet and we still don't know who will be next, so stay away from altcoins, for the time being, focus on bitcoin, and we'll be safe. My advice to OP's friend is to sell all altcoins but don't try to buy other altcoins. Consider my suggestion just to hold bitcoins.
I don't understand why you are making such not quite explicable conclusions? Do you understand that altcoins occupy a huge part of the cryptocurrency market, and this part is a very strong engine of the cryptocurrency industry! It seems to me that your conclusions are not entirely correct in the sense that you are calling on everyone to pay more attention to bitcoin! It's just that you suggest making a bigger choice in favor of bitcoins and at the same time giving up altcoins, which is a bit strange! Accordingly, a huge part of the market is cut off, which is the most important link in the cryptocurrency market! Just one way or another, all purchases of altcoins occur in bitcoins or in USDT, and this already means that bitcoin is being bought! Of course, bitcoin is better from the point of view of reliability, but it is not quite right to completely exclude from attention the altcoin market, which is the main engine of the cryptocurrency sphere!
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Just tell him the higher risk if he will keep that particular project knowing the issue of FTX. Diversification is needed for him to secure his money before it gets compromised and loses it. We need to anticipate the possible thing to happen as this exchange has already been compromised. Better suggest him OP put his money into reliable projects that can give him sure profit like Bitcoin or any of the top 10 coins in the CMC rather than investing in not known altcoins. Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Since the ftx fiasco, I think many investors will rightly pull out of any project connected to that company, it seem whatever they touch will end up having issues in the long run, I recently read that Do Kwon blaming ftx and Alameda for the down fall of ust and luna. It seems the authorities are looking into this recent development.
It is up to your friend to do what he feels right but from the look of things, that company already messed up it's reputation, I doubt it will be business as usual for them anymore.
Not only should we stay away from projects related to FTX and Alameda, but at this stage, we should stay away from all altcoins, including the top coins that people call safe, IMO. The crash of FTX isn't over yet and we still don't know who will be next, so stay away from altcoins, for the time being, focus on bitcoin, and we'll be safe. My advice to OP's friend is to sell all altcoins but don't try to buy other altcoins. Consider my suggestion just to hold bitcoins.
He really needs to consider looking for different coins to invest with because these coins no longer have the potential to grow since they have all kinds of anomalies concerning their trust issues because of what happened to FTX. they should free themselves from any of the coins that the FTX has promoted to prevent themselves from losing their money in the future because these coins might not be on the list to rise their price when bull runs will come because only a few people nowadays are interested in it. Furthermore, the competition is tight currently because of the crypto market situation, they better consider migrating to another coin if they wanted to save their money from getting sunk.
Well, you shouldn't have high hopes for the coin promoted by the destroyed project and we'll see it with our own eyes. I'd be better off switching to another coin than having to hold on to a coin whose investors have clearly already hurt a lot of people with their crash. I can't even think about trusting them anymore even though they offer very promising things going forward.Prevention is better than cure, especially since we have seen the destruction.
If there is any effect that is experienced then those coins value will dump because FTX will likely withdraw their investments as they are having an issue but there might still be a chance that those coins recover later on because they seem to have a fundamental. If not, then FTX won't ever invested on them. They are not a newb to just invest on any random coins. It was still up to you guys if you are in doubt then much better if you will just quit now. Investing is better if we have a peace of mind.
He really needs to consider looking for different coins to invest with because these coins no longer have the potential to grow since they have all kinds of anomalies concerning their trust issues because of what happened to FTX. they should free themselves from any of the coins that the FTX has promoted to prevent themselves from losing their money in the future because these coins might not be on the list to rise their price when bull runs will come because only a few people nowadays are interested in it. Furthermore, the competition is tight currently because of the crypto market situation, they better consider migrating to another coin if they wanted to save their money from getting sunk.
Well, you shouldn't have high hopes for the coin promoted by the destroyed project and we'll see it with our own eyes. I'd be better off switching to another coin than having to hold on to a coin whose investors have clearly already hurt a lot of people with their crash. I can't even think about trusting them anymore even though they offer very promising things going forward.Prevention is better than cure, especially since we have seen the destruction.
He really needs to consider looking for different coins to invest with because these coins no longer have the potential to grow since they have all kinds of anomalies concerning their trust issues because of what happened to FTX. they should free themselves from any of the coins that the FTX has promoted to prevent themselves from losing their money in the future because these coins might not be on the list to rise their price when bull runs will come because only a few people nowadays are interested in it. Furthermore, the competition is tight currently because of the crypto market situation, they better consider migrating to another coin if they wanted to save their money from getting sunk.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Be decisive and change all to Bitcoin,Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
At least that's my word, I will definitely switch all to Bitcoin, this is the only idea, there is no other choice.
This is the result that I know from time and time again historical experience.
I would recommend selling all altcoin and then buying bitcoin when the big drop happens next year. Yes, I have a feeling next year will be the lowest price in the market.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Since the ftx fiasco, I think many investors will rightly pull out of any project connected to that company, it seem whatever they touch will end up having issues in the long run, I recently read that Do Kwon blaming ftx and Alameda for the down fall of ust and luna. It seems the authorities are looking into this recent development.
It is up to your friend to do what he feels right but from the look of things, that company already messed up it's reputation, I doubt it will be business as usual for them anymore.
Not only should we stay away from projects related to FTX and Alameda, but at this stage, we should stay away from all altcoins, including the top coins that people call safe, IMO. The crash of FTX isn't over yet and we still don't know who will be next, so stay away from altcoins, for the time being, focus on bitcoin, and we'll be safe. My advice to OP's friend is to sell all altcoins but don't try to buy other altcoins. Consider my suggestion just to hold bitcoins.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
I wouldn't advise anyone to keep holding any crypto project related or that has any affiliation with FTX and its associate because the FTX news as we saw dropped the market by about -26%, what do you think will happen to the crypto project that is connected to it? here are other good projects to invest in instead of taking the risk of losing everything down the road. Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Ftx is done so any token or coin directly connected to them is also supposed to be done already. Investor should not trust anything on it since maybe they will be the round number 2 victim if they keep believing that this is good to hold for long term. Give a good advice to that person that exchange his holding since top coins still much better to hold.
This may be a difficult decision because FTX as a big investor, is experiencing a case that is enough to make the crypto market panic. Meanwhile, your friend has investments in both projects, which makes him worry about the future of his project. I also hesitate to give you advice because I'm afraid my advice will cause big losses for your friends. I suggest selling half of the total token amount and replacing it with another altcoin or investing in bitcoins. Or he can also keep holding the token while asking the project about the status of the project.
Already we are in a bear market and now almost every cryptocurrencies are being traded in a very cheap price. So if he has in profit he should sell those altcoins and can buy more potential coins. We should always be updated with the Crypto News. So better avoiding those projects.
Mina protocol was one of the altcoins I used to hold before the FTX saga began few weeks back, I was forced to sell the coin but there isn't any big dump on the market till date.
I think the projects will be fine because Alameda will want to make money off their investments too, the most affected of all is Solana and still some are buying till date.
It's a pure manipulation and things will go back to it's old stage, Solana will survive this.
I think the projects will be fine because Alameda will want to make money off their investments too, the most affected of all is Solana and still some are buying till date.
It's a pure manipulation and things will go back to it's old stage, Solana will survive this.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
If they are involved and if I am on the same foot as him then I'd sell. Risking it further might be a rekt long-term. Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Did you ask your friend his take on this?
I mean, does he have any idea of what happened, and if he is having doubts about the investment he made?
Yes, I would find something where those companies are not involved, honestly, far away from them, and start a clean slate. This will just become a stressful road for him if he will keep on thinking about the investment he made, and sleepless nights monitoring the market.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Why replace it with other altcoins, look at the price of Bitcoin it's cheap right now, dump these altcoins and buy Bitcoin, altcoins come and go but Bitcoin always bounces back, since FTX and Alameda are two of its biggest investors expect a dump to happen, there's always a domino effect when a project shutdown, all of his associates and projects that involved on it will also suffer.The two altcoins you mentioned are still doing good but for how long when the investigation goes deep expect bad things to happen, they will liquidate and the price will crash, so you have to take action when you have the time
I know it is not going to be easy for everyone to do such a thing, most people either take too much of a big risk, or they take no risk at all. However, altcoins are futile risk right now when the reward at bitcoin is equally big and less risky, why take more risk for the same amount of return? That is why nearly all my money is in btc, and the only other big ones are eth and bnb, number 2 and 3 respectively.
Is buying altcoins intended to be held for a long time? I don't like long-term investment in (unknown, unpopular) altcoins. I'm afraid that if I open my wallet one day, all the money in it will return to zero.
When I invest in altcoins, I will always observe the price of the coin. If the price is not optimistic, I may stop the loss in time. I will hold Ethereum for a long time, I think it is the center of the altcoin.
When I invest in altcoins, I will always observe the price of the coin. If the price is not optimistic, I may stop the loss in time. I will hold Ethereum for a long time, I think it is the center of the altcoin.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Never heard of those two coins. If they are some good projects that has potential, then he can keep on holding and not focus on all the speculation. If not, then your friend should likely sell it. The price will be affected by the events of FTX since you are saying they are a big investors. Probably already has affected the price. And if the coins weren't sold off, there will be another huge dip. So if your friend doesn't want to take a risk, let him sell it now and buy it later at cheap after the tokens are dumped. Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
It is late to sell his bag now because I believe the market already plummet due to the Alameda FTX fiasco. I think all he can do now is to wait, and Mina Protcol and Fuel is a different project from Alameda and FTX, if one of the investors failed, it does not mean the project failed because investors an developers are two separate entity, investors can cash out, price plummet but they can be replaced by better investors if the project developer continues to meet the road map. I think it is better to accumulate more during the crash, that is if he has a lot of faith on the project after all his researh and investigation.
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
This kind of questions regularly remind the extent to which Alameda and SBF's names have been damaged, that people do not feel safe being involved in a project that they are known to be involved in. If he already has the hunch to get another altcoin because he is uncomfortable with being involved in a project that Alameda and co are involved, then he should go along to get other altcoins. But you should also let him know that so far Alameda and SBF are not in charge of the project, they are safe to an extent. A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
If I were in that situation, I will sell them and replace them with potential projects. We have to anticipate the possible collapse of that project as it was connected to FTX and Alameda. Though we are in this bear season and we expect a drop in prices, yet we can't be confident that it is because of the bearish situation as might it drop because many investors are also selling their coins earlier. Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
I think we better stay away from the projects that FTX and Alameda are involved with. That I think was the safest way to do it now.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
If he is underwater then without a doubt this is a difficult decision to take as that would mean he will need to take some important loses by selling, but if I was in the same situation then I would be seriously thinking about selling, and if at some point there is a strong indication that the price may go down even further then I would sell and then move to bitcoin as a way to protect my capital for the time being, now the best thing would have been to not put yourself in that position, but this is not possible to do for that newbie anymore. Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Because it is a financial matter, you must always make your own decisions. I will not hold a coin that is associated with risk. I absolutely despise being involved in drama. I will no longer hold such risky coins wherein FTX has invested. I'd sell coins and buy some others. Investing in a coin nowadays is a challenging task. Because there is so much drama going on around crypto, you must choose smartly. Rather, invest in Bitcoin, which is less risky and much more decentralized.
Agreed, when finance is involved it is good to have their own decision. Because we don't know the market movement of the respective coin. It can move bullish or bearish in no time. When there is a fear about the involvement of something that had created negative impact over the market, it is good to sell and go for the trusted ones on the top list than holding with fear.
Because it is a financial matter, you must always make your own decisions. I will not hold a coin that is associated with risk. I absolutely despise being involved in drama. I will no longer hold such risky coins wherein FTX has invested. I'd sell coins and buy some others. Investing in a coin nowadays is a challenging task. Because there is so much drama going on around crypto, you must choose smartly. Rather, invest in Bitcoin, which is less risky and much more decentralized.
Alameda is no longer a preferred name in the crypto community this days so if you are holding any project supported by this people you would be helping yourself by dumping it and cutting your loses before it is gone from bad to worse.
It is unfortunate how greed has turned a strong VC into a big scam entity. See how they render ftx useless with their greed.
It is unfortunate how greed has turned a strong VC into a big scam entity. See how they render ftx useless with their greed.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
I would run like hell. Anything that relates with alameda or FTX for that matter will be dead in a few months. Well, there might still be a chance for a recovery but considering the previous blows I have seen in the industry, he would be better off by selling those tokens while he can. Nevertheless, if he believes in a comeback he may hold his bags
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Since the ftx fiasco, I think many investors will rightly pull out of any project connected to that company, it seem whatever they touch will end up having issues in the long run, I recently read that Do Kwon blaming ftx and Alameda for the down fall of ust and luna. It seems the authorities are looking into this recent development.
It is up to your friend to do what he feels right but from the look of things, that company already messed up it's reputation, I doubt it will be business as usual for them anymore.
I would ask them to convert everything into bitcoin or stablecoin for time being. Though the name of every asset which is in contact with FTX has been painted red one can still trust the Altcoins which were involved directly but to the extent where we believe they still have the powerful project idea behind them. Not all of them gonna be success. Some of them actually find such incidences as exit scam strategy! Better watch your investment carefully. This is why better choose bitcoin straight away and keep up with the market. Also let them also decide, try to be direction giver but ask them to decide themselves. No one is right in this market.
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You can return the question to your friend. After all, as a beginner, why would he choose a fledgling project over bitcoin or other potential altcoins? And for that, I can only advise him to sell his tokens and move to bitcoin and not touch altcoins for a while. By investing in bitcoin, he can at least hope to see his investment's value increase in the future. And this will keep him from worrying because if an altcoin goes down, the price can drop drastically. But everything will return to your friend and let him decide what is best for him.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Why replace it with other altcoins, look at the price of Bitcoin it's cheap right now, dump these altcoins and buy Bitcoin, altcoins come and go but Bitcoin always bounces back, since FTX and Alameda are two of its biggest investors expect a dump to happen, there's always a domino effect when a project shutdown, all of his associates and projects that involved on it will also suffer.
The two altcoins you mentioned are still doing good but for how long when the investigation goes deep expect bad things to happen, they will liquidate and the price will crash, so you have to take action when you have the time
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Well i am not sure how much they sold as collateral, but selling time was while ago i think, if something else doesn't get revealed i think they might have hit the bottom. Mina was already started to pump before all this chaos began, so it wants to go up already. Now it will take more time and no one knows how long is that going to be. Risk how ever is big, but so it's with everything when you try to catch a bottom.Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Since we are only at the beginning of the bear market and based on previous experience, many altcoins will not survive this period or will be minor after that. Every entry into an altcoin project is most often due to the expectation of high income, and for all those who did not manage to realize themselves in the bull market fully, it will be challenging to do so at a time when interest is declining.
I would say that it is a very high risk with a much smaller potential for significant growth.
all new investors should first keep in mind that the current price of bitcoin is very low. There is no guarantee of what will happen and in what period, but it certainly carries much less risk.
Beginning? Bear market started year ago and that's how long altcoin total marketcap took last time to hit the bottom. I am not saying that this time it would happen exactly same way but i would totally disagree that we are in the beginning. I would say that it is a very high risk with a much smaller potential for significant growth.
all new investors should first keep in mind that the current price of bitcoin is very low. There is no guarantee of what will happen and in what period, but it certainly carries much less risk.
I don't have any idea about the coin that the newbie is holding but one thing is for sure, Don't catch falling knives. I will instantly suggest to just sell those and just buy bitcoin or other top coins. We are on a bear market and it's common that weak altcoin is doomed to fall and given that it is connected to Alameda and FTX which also has a bad reputation today, I assume that there's a high chance that those coins the newbie is holding will not last long until it's value drop at a significant price that he can't sell it. Again I don't have any idea about those coins but given the scenario we have today, It would be better to just hold bitcoin and other strong coins knowing that he is a newbie and don't have a necessary experience on crypto to survive.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
We don't know what's gonna be the fate of coins whose investors are Alameda and FTX which is why we should decrease the risk by selling those coins and buying other potential altcoins.
If your friend still believes in the tech he has two options. Either he can buy more to average the price or cut the losses by selling all the coins.
If he is interested in the tech he can buy those coins back when the bull market starts or when things are better for those coins.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Every projects attached to FTX and Alameda must be avoided. We have been watching every big crypto scam scheme collapsing other scam schemes connected to each other, increasing the possibility the tokens you mentioned are also going to be impacted negatively by FTX's influence. We are living uncertain times, and in moments like this the best you can do is to avoid altcoins and focus on bitcoin to mitigate risk. Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Has your friend studied the tokenomics of projects and the schedule for distributing tokens from investors? Does he know the schedule for unlocking these tokens from Alameda or FTX? Or does he want other people to do analytics for him for free?Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
If it's a small amount, like a few thousand dollars, then I wouldn't do anything. If the amount is greater, then you need to analyze these assets.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Both are low-cap projects, in case both of these projects do not have the investment of FTX and Alameda, I still advise him to sell, even though it will make him lose, it is better than losing everything. But I would not advise him to sell these two altcoins and buy another two I would recommend he invest all that money in bitcoin to ensure his safety as well as the ability to recover the losses Mina and Fuel inflicted on him. Given what happened with FTX, we should stay away from altcoins as far as possible.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Just let him to go to the exchange site that was supporting both of tokens. Minaa already listed on binance and Fuel was on gate io without any volume. FTX and Alameda may have huge stack but i think that the impact from alameda will not be last forever. If he favor to sell his tokens and then just let him to do that. Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
It's a good idea and why not? the problem is the price of both already dumped so hard and the question is will he accept the truth to sell his token in a big lose? What will you do in this case?
As long as i do believe i can recover my money through invest in another token with better potential and i may try to sell that.
I'll sell all of those and will buy bitcoin instead. Too much already with altcoins and that is why it has to change and that's through owning and buying bitcoin.
Just to be sure with the decision because we all know what bitcoin is and it is unlikely to fail just as the concern with connection to FtX and Alameda.
Just to be sure with the decision because we all know what bitcoin is and it is unlikely to fail just as the concern with connection to FtX and Alameda.
Since we are only at the beginning of the bear market and based on previous experience, many altcoins will not survive this period or will be minor after that.
We have been on bear market since months ago, now we are either on capitulation or anger stage. History repeat itself, the lowest of btc price is around the corner, just like 4 years ago.The bear market is not over and it's not smart to buy altcoins in middle of bear market.
This is a hard thing to say. I've experienced the same thing. Friends ask for advice whether to sell or hold. I will not answer directly. However, I would ask him to research before deciding.
In this case, it's a good idea to ask your friend to do some research and weigh the potential and downsides. For example, if it is found that Alameda & FTX are the top investors, then he/she should be selling it. With the consideration if the price rises, both of them will do a dump by selling all the tokens they hold and later this token has no value.
However, if they only support not making large investments, tell him/her to look at the long term potential, how the project is performing so far. Compatibility of performance with roadmap and other factors. If everything is fulfilled, your friend can hold.
But, as @examplens said, when the bearish comes, most new projects will hard to survive. so, tell to your friends to take a consideration to sell, if the loss is not more than 30%, to sell gradually and look for other options that are more convincing for him and ask your friends to do more research about current progress of this project.
Note: NFA
In this case, it's a good idea to ask your friend to do some research and weigh the potential and downsides. For example, if it is found that Alameda & FTX are the top investors, then he/she should be selling it. With the consideration if the price rises, both of them will do a dump by selling all the tokens they hold and later this token has no value.
However, if they only support not making large investments, tell him/her to look at the long term potential, how the project is performing so far. Compatibility of performance with roadmap and other factors. If everything is fulfilled, your friend can hold.
But, as @examplens said, when the bearish comes, most new projects will hard to survive. so, tell to your friends to take a consideration to sell, if the loss is not more than 30%, to sell gradually and look for other options that are more convincing for him and ask your friends to do more research about current progress of this project.
Note: NFA
If the loss is not too big, he can sell it and replace it with another altcoin.
But if he was too scared to see his losses and the price had plummeted too much right now, he could also sell it before things got any worse.
But before he does, he needs to check with the project team for updates on the project so he has some idea of what to do.
This is a dilemma, especially if he has spent a lot of money to invest in the project but everything has happened and maybe saving his capital is most important.
But if he was too scared to see his losses and the price had plummeted too much right now, he could also sell it before things got any worse.
But before he does, he needs to check with the project team for updates on the project so he has some idea of what to do.
This is a dilemma, especially if he has spent a lot of money to invest in the project but everything has happened and maybe saving his capital is most important.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
The bear market is not over and it's not smart to buy altcoins in middle of bear market.Quote
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved?
FTX and Alameda are not gods so it's funny to see people believed about those entities a lot in the past two years. Same goes to Venture Capitals VCs which got a lot of belief and capital from retail investors. Those people invested without research and they spent money by following VCs.Quote
What will you do in this case?
Bitcoin firstEthereum and BNB will be my next considerations but I will buy these altcoins after Bitcoin.
Reason is Bitcoin is a market leader and it will start a new bull run first. Ethereum will follow Bitcoin and BNB should be next altcoin to follow Bitcoin and Ethereum.
My biggest problem with altcoins is the way it is been influenced by rich investors who holds more than half of this coins. Once they see to pull the plug off it affects the minor investors. Looking at these coins you mentioned they aren't even top 10 of Altcoins so I would say I it will be hard to pull up after this bear. It takes a genuine coin like bitcoin to bounce back from such period. So just like the others suggested, the person should just switch over to bitcoin. And if he wishes to still have some Altcoins he should rather stay with the top 5 but bitcoin stays the best option for store of value
I know about Mina protocol and their aim to keep lightweight blockchain technology and they have raised around $92M in funding from FTX,3AC and other venture firms this year but if you are worried about your investment in them then you should avoid holding the coins.
The FTX crash has deserted many projects as they were funding to lot of them and if you see MINA token then it also crashed badly with all the red lines on CMC and there is 3-4% rise now but for long term aslo I don't see any much profitability to them because of the security issues and network not being safe.So in my opinion if your friend sell at this time and invest in bitcoin for long term he would have good returns instead of dead tokens in his wallets.
The FTX crash has deserted many projects as they were funding to lot of them and if you see MINA token then it also crashed badly with all the red lines on CMC and there is 3-4% rise now but for long term aslo I don't see any much profitability to them because of the security issues and network not being safe.So in my opinion if your friend sell at this time and invest in bitcoin for long term he would have good returns instead of dead tokens in his wallets.
Just recommend them straight away to sell all of their shitcoins and buy Bitcoin, make sure they hold it on hardware wallet. After they do this, nothing should be worried since Bitcoin is the best coin to invest during bear market and the coin wouldn't get hacked due to decentralized and high security. Unlike those shitcoins there's will be a whales who own most of the coins, in Bitcoin there's no whales that can control 50% of Bitcoin supply. Mostly address that contain high number of Bitcoin is centralized exchange hot wallet.
Since we are only at the beginning of the bear market and based on previous experience, many altcoins will not survive this period or will be minor after that. Every entry into an altcoin project is most often due to the expectation of high income, and for all those who did not manage to realize themselves in the bull market fully, it will be challenging to do so at a time when interest is declining.
I would say that it is a very high risk with a much smaller potential for significant growth.
all new investors should first keep in mind that the current price of bitcoin is very low. There is no guarantee of what will happen and in what period, but it certainly carries much less risk.
I would say that it is a very high risk with a much smaller potential for significant growth.
all new investors should first keep in mind that the current price of bitcoin is very low. There is no guarantee of what will happen and in what period, but it certainly carries much less risk.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
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