Will the altcoin holders hang on until the bull run comes ? - page 5.

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Quote from: FireDAOJackie_Z on April 12, 2023, 02:55:27 AM

Have you ever had the same experience ? What did/would you do ? Please share your opinions.

Enjin Coin.

I still remember buying this coin back when I was a newbie. I'm a gamer, and I guess its my instinct at that time to buy ENJ because that project is related to gaming. A few days it went down, but I kept holding until it go down, and down, and down. I lost more than half of my capital at that time holding it, but I didn't sell it at a loss, and kept holding it. It took me 2 years until I sold ENJ. I got profit from it, but it wasn't worth it knowing how many years I held it just because I don't want to sell it at a loss.

For sure there are some investors here that have experience the same as mine. They bought a coin, and when it went down, they forced to hold it until the time comes that they will sell it at a profit. It's like they forced hold a coin for months to years, instead of you buying it for short term only.

I suggest to the users here that don't do what I've experienced, and always have a stop loss when needed.

inanilujimi

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Everyone who is familiar with the crypto market must have felt that you only invest to get short profits through fomo but it doesn't match reality because the fomo doesn't last long. for me, whatever decision you want to make, the most important thing is the best for now, because regretting the decision you make will never change any outcome.

Grim_Fandango

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Quote from: FireDAOJackie_Z on April 12, 2023, 02:55:27 AM

I believe everyone on this forum has made both good and bad decisions in terms of investing in altcoins. I recently made a mistake buying a lot of Dogecoins after Elon Musk changed the Twitter logo into the Doge logo. Price was surging and due to FOMO, I bought a lot at the price of $0.099 and afterwards it started to dump like hell. If I continue to hold Dogecoins, the price might be dumping even lower but if I sell them now, the losses become concrete and I'll never have a chance to win back. Have you ever had the same experience ? What did/would you do ? Please share your opinions. By the way, I am with FireDAO team, in charge of the global community. Please contact me if you have any inquiry.

Everyone that is in crypto long enough bought something because of FOMO so you are definitely not the only one experiencing that. From my experience, cutting the loss on bad investment is one of the hardest things to do but in majority of cases, it proved to be the right decision to sell with loss and buy something else that is more promising.

About your DOGE investment, no one can tell you what to do and you shouldnt listen to others and you have to figure that out by yourself.

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Quote from: FireDAOJackie_Z on April 12, 2023, 02:55:27 AM

I believe everyone on this forum has made both good and bad decisions in terms of investing in altcoins. I recently made a mistake buying a lot of Dogecoins after Elon Musk changed the Twitter logo into the Doge logo. Price was surging and due to FOMO, I bought a lot at the price of $0.099 and afterwards it started to dump like hell. If I continue to hold Dogecoins, the price might be dumping even lower but if I sell them now, the losses become concrete and I'll never have a chance to win back. Have you ever had the same experience ? What did/would you do ? Please share your opinions. By the way, I am with FireDAO team, in charge of the global community. Please contact me if you have any inquiry.

It's important to not get in FOMO from other people, we should able to resist our greediness and control our mindset. if you bought a lot at $0.099 you can keep hold until the bull run ends and sell later, imagine those people who bought their doge at $0.3, $0.4, etc. they face more losses than you bought at $0.099. Just make your mistake as a lesson and don't easily get into FOMO next time. Don't panic because it's having a little correction cause its not dump like hell Wink

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Quote from: FireDAOJackie_Z on April 12, 2023, 02:55:27 AM

I believe everyone on this forum has made both good and bad decisions in terms of investing in altcoins. I recently made a mistake buying a lot of Dogecoins after Elon Musk changed the Twitter logo into the Doge logo. Price was surging and due to FOMO, I bought a lot at the price of $0.099 and afterwards it started to dump like hell. If I continue to hold Dogecoins, the price might be dumping even lower but if I sell them now, the losses become concrete and I'll never have a chance to win back. Have you ever had the same experience ? What did/would you do ? Please share your opinions. By the way, I am with FireDAO team, in charge of the global community. Please contact me if you have any inquiry.

Well, that's indeed safe to assume OP because every beginner will really make mistakes as that's a part of our growth and whether we like it or not, that's the most expensive part where we will gain an experience and a lesson. But hopefully Doge wasn't the first coin you bought when you entered the crypto world because you're indeed on a wrong path and probably just invested because of the hype where people are expecting that the price of Doge will surge after Elon changed the twitter logo.

You should know that we're in April, where April fools are happening. But since you already invested on it, I suggest you hold it rather than selling it because you will just add your losses if you sell it, we never know you might get lucky. Next time, I advise you to keep some safe distance with these coins.

Oasisman

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Quote from: FireDAOJackie_Z on April 12, 2023, 02:55:27 AM

Will the altcoin holders hang on until the bull run comes ?

This should never gonna be the question. The question should be "Are you holding the right altcoin for you to hang on until bull run comes?"
Well, in your case, you should. Though Dogecoin is a memecoin, but the hype around this coin ain't gonna die down easily especially with Elon doing what he can to boost it's hype even more.
The thing about FOMOing is that you will probably have a higher chances of losing than actually making a profit. Why? well, simply because you're chasing for good profit in a shorter period possible and tend to sell when the price starts to decline. So, that's like a FOMO gradually transitioned into FUD.

FireDAOJackie_Z

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Quote from: Vaskiy on April 14, 2023, 06:55:21 PM

Quote from: Kelvinid on April 14, 2023, 09:22:12 AM

Quote from: yazher on April 14, 2023, 08:07:54 AM

When it comes to altcoins, it's really hard to keep holding on especially when you see the price is currently rising at its current ATH and the other cryptocurrencies are not moving their price. Of course, you won't gonna wait for a bull run when you witnessed those sceneries because you won't know whether the price will still be like that or it might be not the case anymore because it's already over for that coin and the reason for that is, the hype has already subsided and the price right after that is going to decrease little by little each day.

I hate to say this but as per market observation, many people can't wait for the ATH but rather make early decision to sell when seeing the price is growing. And I would say that people had already change after missing the last 2016-2017 bullish market for not selling their coins at high price. But unfortunately, the outcomes is not good and a reason why we can't see that price keep on high as it ended just days as these investors selling of their coins to make sure that they will never miss the opportunity again.

With bitcoin people have the belief and keep hold unlike the market behaviour. With altcoins users always have the dilemma whether to sell or keep hold to experience the best profit. As mentioned most of the investors experienced massive blow during the 2016-2017 altcoin season and further more altcoins went out of usage and got delisted. This is the major reason why the priority from users is to sell when the market of altcoins have reached better position. Maybe holding to experience ath could turn to be disappointing.

You've outlined the perfect mindset that every investor should have, especially in the cryptocurrency market. May I ask what percentage of your investments is profitable ? Like higher than 70% ? Just curious Grin

Vaskiy

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Quote from: Kelvinid on April 14, 2023, 09:22:12 AM

Quote from: yazher on April 14, 2023, 08:07:54 AM

When it comes to altcoins, it's really hard to keep holding on especially when you see the price is currently rising at its current ATH and the other cryptocurrencies are not moving their price. Of course, you won't gonna wait for a bull run when you witnessed those sceneries because you won't know whether the price will still be like that or it might be not the case anymore because it's already over for that coin and the reason for that is, the hype has already subsided and the price right after that is going to decrease little by little each day.

I hate to say this but as per market observation, many people can't wait for the ATH but rather make early decision to sell when seeing the price is growing. And I would say that people had already change after missing the last 2016-2017 bullish market for not selling their coins at high price. But unfortunately, the outcomes is not good and a reason why we can't see that price keep on high as it ended just days as these investors selling of their coins to make sure that they will never miss the opportunity again.

With bitcoin people have the belief and keep hold unlike the market behaviour. With altcoins users always have the dilemma whether to sell or keep hold to experience the best profit. As mentioned most of the investors experienced massive blow during the 2016-2017 altcoin season and further more altcoins went out of usage and got delisted. This is the major reason why the priority from users is to sell when the market of altcoins have reached better position. Maybe holding to experience ath could turn to be disappointing.

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Quote from: FireDAOJackie_Z on April 12, 2023, 02:55:27 AM

I believe everyone on this forum has made both good and bad decisions in terms of investing in altcoins. I recently made a mistake buying a lot of Dogecoins after Elon Musk changed the Twitter logo into the Doge logo. Price was surging and due to FOMO,

Honestly, it will be fifty-fifty because we will consider if our previous investment on altcoins will be really helpful and then rise up again after the big drop from the previous bullish. So far in the bearish era, we have found so many altcoins that are dead because of FOMO and then couldn't rise up again. But this will be more interesting than top coins especially the coins with high recommendations and solidity, having big track records, and may be able to survive.

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Quote from: danherbias07 on April 14, 2023, 09:39:48 AM

I have lots of experience with that kind of mistake. But you can never stay defeated when it happens, you try to win it back by investing in something else if you cannot afford to sell it now. Make another budget, use that to invest in another altcoin, and learn from past mistakes.
Before I bought Shiba, millions of it, I never expected too much so when I saw the opportunity to sell, I did it without any regrets. Until now, I never had the feeling of regret even though it could've been 10x or 20x. It's still a win for me.

When it comes to losing, I have high hopes for NFT coins and waited a long time but all of them don't have the same value as when I bought them, it's down by a lot and I cannot sell them anymore. I just skip them for now, try my luck with other projects.

Selling is not bad especially that we all wanted to just maximized our profit by buying and selling altcoins. As long as you are happy with the profit ypu had made from the investment/trade you made, Don't regret about selling too early. I'm sure you have your reasons why you sell and it would be much understandable if you plan to put the money on another altcoin investment that had much more greater potential.

I also don't like NFT based tokens, I don't see the utility in them and I don't see them as a proper altcoin.

danherbias07

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I have lots of experience with that kind of mistake. But you can never stay defeated when it happens, you try to win it back by investing in something else if you cannot afford to sell it now. Make another budget, use that to invest in another altcoin, and learn from past mistakes.
Before I bought Shiba, millions of it, I never expected too much so when I saw the opportunity to sell, I did it without any regrets. Until now, I never had the feeling of regret even though it could've been 10x or 20x. It's still a win for me.

When it comes to losing, I have high hopes for NFT coins and waited a long time but all of them don't have the same value as when I bought them, it's down by a lot and I cannot sell them anymore. I just skip them for now, try my luck with other projects.

Kelvinid

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Quote from: yazher on April 14, 2023, 08:07:54 AM

When it comes to altcoins, it's really hard to keep holding on especially when you see the price is currently rising at its current ATH and the other cryptocurrencies are not moving their price. Of course, you won't gonna wait for a bull run when you witnessed those sceneries because you won't know whether the price will still be like that or it might be not the case anymore because it's already over for that coin and the reason for that is, the hype has already subsided and the price right after that is going to decrease little by little each day.

I hate to say this but as per market observation, many people can't wait for the ATH but rather make early decision to sell when seeing the price is growing. And I would say that people had already change after missing the last 2016-2017 bullish market for not selling their coins at high price. But unfortunately, the outcomes is not good and a reason why we can't see that price keep on high as it ended just days as these investors selling of their coins to make sure that they will never miss the opportunity again.

yazher

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When it comes to altcoins, it's really hard to keep holding on especially when you see the price is currently rising at its current ATH and the other cryptocurrencies are not moving their price. Of course, you won't gonna wait for a bull run when you witnessed those sceneries because you won't know whether the price will still be like that or it might be not the case anymore because it's already over for that coin and the reason for that is, the hype has already subsided and the price right after that is going to decrease little by little each day.

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Quote from: Reatim on April 14, 2023, 01:23:18 AM

Quote from: BobK71 on April 13, 2023, 11:57:52 PM

Quote from: FireDAOJackie_Z on April 12, 2023, 02:55:27 AM

I believe everyone on this forum has made both good and bad decisions in terms of investing in altcoins. I recently made a mistake buying a lot of Dogecoins after Elon Musk changed the Twitter logo into the Doge logo. Price was surging and due to FOMO, I bought a lot at the price of $0.099 and afterwards it started to dump like hell. If I continue to hold Dogecoins, the price might be dumping even lower but if I sell them now, the losses become concrete and I'll never have a chance to win back. Have you ever had the same experience ? What did/would you do ? Please share your opinions. By the way, I am with FireDAO team, in charge of the global community. Please contact me if you have any inquiry.

Investing in meme coin is risky and knowing that we invest there hoping for large profit. This coin was originally hyped by Elon Musk. Since the hype is ended, it may turn lower again. My suggestion to you since you have purchased it is to hold on to it. There is a possibility that if the bull run starts then you can make a good amount of money from it. Because this coin got ATH up to about 70 cents. Nothing to do but wait. I think if the market get the bull strength you can gain minimum 1x profit for the near future.

actually this effect happened week ago and we cannot see that anymore now , that Elon Changing his twitter profile made Doge climb good but return to the price after a week.
and yes the argument is correct that not because Doge goes that high meaning all altcoin will follow . reminder that bitcoin is still the one who made this all things come to reality.

Such is the reality that Dogecoin has only gone up for a short time and even then it is not quite certain,
hard as it seems to achieve the glory of Dogecoin as it used to be,
we'll see what will happen and it will be interesting to wait for its development.

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Quote from: Cornia on April 13, 2023, 09:27:40 AM

Many people are making huge profits by investing in Dogecoin and many people are falling into huge losses. Since you bought dogecoin at a very high price, hold now without selling and you have no other option. Keep waiting for Elon Musk to change the logo of Twitter and use the logo of Doge coin again or until the next bullrun.

If I am in that situation, I'd rather decide to sell them and look for other altcoins or Bitcoin instead. Because it was too hard to believe in something, we can't please Elon Musk to hype Dogecoin for the sake of your profit, I expect not. So, instead of wasting our time waiting for miracles, we have to do something, and the best option is to sacrifice losses for better rewards.
After all, OP already knows the risk when investing in a meme coin as the only way it grows through market manipulation.

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Quote from: BobK71 on April 13, 2023, 11:57:52 PM

Quote from: FireDAOJackie_Z on April 12, 2023, 02:55:27 AM

I believe everyone on this forum has made both good and bad decisions in terms of investing in altcoins. I recently made a mistake buying a lot of Dogecoins after Elon Musk changed the Twitter logo into the Doge logo. Price was surging and due to FOMO, I bought a lot at the price of $0.099 and afterwards it started to dump like hell. If I continue to hold Dogecoins, the price might be dumping even lower but if I sell them now, the losses become concrete and I'll never have a chance to win back. Have you ever had the same experience ? What did/would you do ? Please share your opinions. By the way, I am with FireDAO team, in charge of the global community. Please contact me if you have any inquiry.

Investing in meme coin is risky and knowing that we invest there hoping for large profit. This coin was originally hyped by Elon Musk. Since the hype is ended, it may turn lower again. My suggestion to you since you have purchased it is to hold on to it. There is a possibility that if the bull run starts then you can make a good amount of money from it. Because this coin got ATH up to about 70 cents. Nothing to do but wait. I think if the market get the bull strength you can gain minimum 1x profit for the near future.

actually this effect happened week ago and we cannot see that anymore now , that Elon Changing his twitter profile made Doge climb good but return to the price after a week.
and yes the argument is correct that not because Doge goes that high meaning all altcoin will follow . reminder that bitcoin is still the one who made this all things come to reality.

BobK71

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Quote from: FireDAOJackie_Z on April 12, 2023, 02:55:27 AM

I believe everyone on this forum has made both good and bad decisions in terms of investing in altcoins. I recently made a mistake buying a lot of Dogecoins after Elon Musk changed the Twitter logo into the Doge logo. Price was surging and due to FOMO, I bought a lot at the price of $0.099 and afterwards it started to dump like hell. If I continue to hold Dogecoins, the price might be dumping even lower but if I sell them now, the losses become concrete and I'll never have a chance to win back. Have you ever had the same experience ? What did/would you do ? Please share your opinions. By the way, I am with FireDAO team, in charge of the global community. Please contact me if you have any inquiry.

Investing in meme coin is risky and knowing that we invest there hoping for large profit. This coin was originally hyped by Elon Musk. Since the hype is ended, it may turn lower again. My suggestion to you since you have purchased it is to hold on to it. There is a possibility that if the bull run starts then you can make a good amount of money from it. Because this coin got ATH up to about 70 cents. Nothing to do but wait. I think if the market get the bull strength you can gain minimum 1x profit for the near future.

FireDAOJackie_Z

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Quote from: posi on April 13, 2023, 09:19:40 AM

Quote from: Rasa nanas on April 13, 2023, 02:21:32 AM

I advise you to sell it because the longer you hold the greater the potential for loss. the price of meme coins will not go up if there is no hype and you buy doge after the hype, this is a mistake that is often made when investing in meme coins. There is no guarantee that in the foreseeable future Doge will be hype again and there is no guarantee that in the foreseeable future Elon will continue to support Doge. so you still want to hope with meme coins that only depend on one person?

The higher the risk, the higher the return. As you said, there is no guarantee that Elon will continue to support doge, and you have no proof that Elon will stop supporting doge.
During the bull run 2021, when Elon chose Doge to manipulate and inflate, many people also said to stay away from doge because he was just playing with it, but the people who bought it from there also made huge profits, although there are many losers. Investment is like that, if you accept a big risk, your reward will be higher. Everything is proportional to each other.

You are right. The current price of Dogecoin by the time I am replying to your comment is $0.09, which means it is steadily climbing to the ATH. I sold most of them but still hold some to give a test. Actually, I should not have been worried about the fluctuation at all. Everything has been fine just as the way it should be. All coins today seem to enjoy a price surge so I think most of us can be less emotional in terms of investing in altcoins and just play with the market wave. Stay cool.

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Well, your title asks about altcoins, but apparently your post consists of your experience with Dogecoin specifically. I don't think we can generalise that all the altcoin holders will hold their bags until the bull run or not, since it will depend on what altcoins they hold and the situations of the altcoins themselves. But if we're talking about Dogecoin, I think it still has a chance to increase in price if Elon Musk is still attracted to it. He knows how people react whenever he plays with Dogecoin, and he seems to like it. People also associate him with Dogecoin so often, and I don't think he will quit soon. So, if you hold some Dogecoins now, I think it's better to wait for the next peak price. Who knows Elon Musk will want to play Doge in the near future, sooner than we think he will.

Cornia

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Many people are making huge profits by investing in Dogecoin and many people are falling into huge losses. Since you bought dogecoin at a very high price, hold now without selling and you have no other option. Keep waiting for Elon Musk to change the logo of Twitter and use the logo of Doge coin again or until the next bullrun.

Topic: Will the altcoin holders hang on until the bull run comes ? - page 5. (Read 789 times)