Bitcoin Forum

Case in point here is the NAVCoin.  See this chart here:
http://imgur.com/a/YSudp


Now, I understand the basics of the crypto trading and you buy when the price drops, and sell when it rises up (or hold - depending on your end game)

I saw NavCoin at 60 cents yesterday, and as it was still climbing at the time, had a upward trend, I held off. But now, the price has doubled by this afternoon to $1.20

1) So at what point do - you decide that "ok , $1 is a good price, or $1.2". - How do I know what the "peak" might be. For all I know $1.20 IS the peak or it could possibly keep climbing (like Litecoin) and reach $10?

2) After seeing the chart, at what point should I have decided to "buy" or is that moment, right now, when it's sitting at $1.20.

I am new to this, so it might be a stupid question. -so excuse me for that :)


Any help would be appreciated.  

EDIT: and while I typed this, it climbed up to $1.34!

1.42 now :D

Yea, it climbed up to 1.57 - and settled around 1.40

Great deal anyway. I bought some at 1.31 (took too long to decide :(

1) you look at the marketcap mostly. coin's value has absolutely no meaning if you ignore coin's competitor marketcap.

e.g. Navcoin had a sub 10 millions marketcap (it's 80 now, iirc) much much lower than the competitors (verge? monero?)

2) It's tied to the first point and depends on the kind of investor you are.

My own opinion is that you don't know enough about cryptos and cryptotrading if you're looking for similar advice.

No

But that's why I am here asking questions; and learning:)