I like XMR and all the goals the project is trying to achieve. And so I have bought a third of Bitcoin a few months ago. Unfortunately it dropped and now I need to go up. Do you guys think that it can go up to 4 bitmills again=?
I sure hope so...
You have to be long on XMR. It's not going to magically increase. I was a long time bagholder until I finally just got out right before the BTC increase, so I did ok, but probably not in the long haul, who knows, I just felt better doing it... It's a hard coin to hold long term. But, I do believe, it will pay off which is why I just grabbed 1k on Polo, this way I don't feel so exposed to the massive swings this coin has and will likely continue to take. On the other hand, it's also fun to be a large holder, you can watch the value of your holdings swing hundreds of dollars in literally minutes. Just like bitcoins can swing 1000's of USD when you own 100's of them!
When I first started to sit down and wanted to learn more about cryptos about a year ago (long story as to why), I always loved
this post by AP that pretty much is a different way of thinking about investing that provides a great analogy about going out early to bars.
As someone who went out to bars a good bit back in college, you would kind of "know" which bars will be packed later on in the night based on what kind of specials all the bars run and what days are popular for certain bars.
Point being, is that if you have a gut feeling that a certain bar is going to be really fun and you are trying to have a great time with friends, you should go ahead and get set up there before the "herd" of people come strolling in when the line starts to get long at the door. People want to be apart of what is a success and it's not necessarily random what ends up being popular with a certain group of people, which in this analogy would be drunken college kids (and for cryptocurrencies would be people who want to protect their privacy).
With that being said, if you have that gut feeling of something being popular in the long run of things, usually it will
eventually be the right call.
