Bitcoin Forum

I am invested in Gala and there has been a lot of bad news recently with many investors either worried or selling.

I am currently holding what I have and will buy more if we really do fall lower but I am just wondering what others are doing?

We are only a few more months away from the bull run so feel it is worth holding.

Is Gala still a good investment or not anymore? See link below

https://beincrypto.com/gala-games-legal-dispute/

One thing about altcoins is that they are centralized. See what happened to Pepe recently that millions of dollars worth of the coins were sent to four different exchanges and they sold it. I think this also happened to gala recently. That approximately $130 million worth if gala were sent to an exchange and sold. The best is still bitcoin, but you can gamble with altcoins.

Bitcoin is safe yes but I want to make some money and to do that you have to take risk. The average person like myself is not going to make life changing money with Bitcoin.

Hopefully Gala can make it through to the bull run but if it doesn't at least I have others to fall back on.

I am optimistic on it before because it's more of the games that they're developing. But lately, just as you've said, there have been a lot of drama that's happening.

Anyway, my invested there isn't a lot and I afford to lose so it's like a do or die whenever the bull run comes and it didn't have any affection. I wouldn't be affected a lot.

Still, money is still money on it and I'll just take the loss if ever it will happen.

Majority of altcoins are ponzi-like in nature and because of the freedom that comes with centralization made it easy for most of the coins developers and team to easily scam the investors by pulling an exit scam on them anytime they see that the market is pumped enough to increase bounty amount.
Bitcoin is still the best truly and I will not even advise anyone to gamble with altcoin unless on a few of those coins that already have a well-established team behind them, Trying to gamble altcoin may lead you into potential losses if you are not careful.

Since your investment is not that much, you can just simply stack it there wait for the bull runs and you decide whether you sell it or not. Buying more of it as of now is not really good idea because it could be the end of it and you won't get back your capital once the price crashes once more. You might also lose some good opportunities from other altcoin investment which is decent and have a promising future.

I don't like it when 2 founders are having a dispute over the money. This doesn't go well. Luckily, I have already sold all my $GALA before but it's not because of this dispute, it's just because I saw a window of profit so I took it. Don't love the coin, that's my motto when it's not Bitcoin. If you see an opportunity to sell then take it. Although I spent a lot of money on fees because it was during the heavy traffic in ERC20, I risked it just to get all my coins out and converted to USD.
Now it's up to you brother. Consider the market's condition too because we are not in the bull run yet. Those disputes could heavily damage their reputation and might pull down the value of $Gala if the investors sold their coins. It's not like they are just going to sit around and be rekt because of this owner's problems.

Gala is one of the strongest of the gaming hubs. After the Halving of the 2024 (BTC) these projects will have one of the strongest seasons. Is Top searched in coingecko this day

I am a bit skeptical about some altcoins, whereas you are brave enough to invest in GALA tokens which in my view is no better, if you believe then keep it because that's the best way you are profitable but I am sure here not many save on GALA but bitcoin.

Moreover, there is a dispute between the founders as @danherbias07 said maybe it will be difficult to develop the project.

Basically Gala is still a worthy investment because this project is a project that builds a huge gaming platform. But as we all know, negative news has a negative impact on the entire project, including their native token. Since the news published on Bein that you attached, MC on Gala has decreased again to $71M, IMO with the current bad news, it's not good to hold or buy $GALA. It's better if we wait until the case in Gala is finished.

If you want to make money, you can play with meme tokens.
Meme tokens are cheap and you don't need to spend much money to get billions of them.
And all you have to do is wait for the meme tokens which will increase and give you big profits.
I don't know about Gala but as far as I can remember, I don't have Gala but I do have some meme coins ;D

In my opinion, it is not yet time to say unequivocally that you can invest in GALA. Look at the price chart, the coin has been falling non-stop since February 1 this year. I would wait a bit to be more confident, as GALA is not in the category of those cryptocurrencies that will increase in the next bull cycle with 100% certainty, like bitcoin or eth. If the price doesn't sustain $0.016 and fails, then definitely your investment could be at a serious loss.

Metaverse is already not popular anymore while GALA previous valuation is due to the hype of Metaverse and NFT games in crypto space. Now that the hype is over, Gala is just like a normal crypto company that offer crypto game that is not profitable anymore due to low demand. Even Axie that start the trend for NFT games is already on the verge of flattening the chart.

The only future of this project to revive is when the hype on Metaverse comes back which is very low chance.

If you are really that having the trust on GALA project then its up to you whether you would cut loss or would really be holding up your position, knowing that we are really that still not on a bull run market on which everything do really looks that they are really going on the ground now. There's no way on telling or saying on which projects would pump out on that bull run season. This is what makes really that hard on making that kind of decision whether we should hold up or would be finding another place. It is really that very normal on having this kind of approach and doubts specially if there's a huge sell off.It would really be boggling up your
mind and create that kind of feeling and emotion whether you should give up and find or look for another one or would really be stood still on what you have started.  Recovery and price pumps and jumps
would definitely be not a guarantee to happen because we know that this market could really make some projects pump and then die forever and there are ones who do eventually make out some recovery
after that long time consolidation.It would really be totally depending on the demand and recognition since not all projects do able to get up such support.

The internal problem will be greatly affect the development in the project. It looks stupid enough if you are still beliving in this shitty project. I meant you just need to realize the fact if the legal battle in internal will happen soon. This will put the project in trouble for long term.
I don't get it why people are still believing in this steam copy cat. The internal drama is something that will be so hard to be solved. You may see if the internal will be splitted.

You can still trust it and risk your money but if i were you and i will search a better coin to invest rather than keep waiting for this shit to go up with so many internal drama that will come soon.
The better thing is to stick into another altcoin which can be trusted. Does your investment be at a loss now?

Im just seeing some gala investors were just moving.

I really don't think it will recover anymore. Gala is shitcoin for me.
After all of these dramas, who will still trust them? It's now difficult to gain the trust of the people, it has already been proven by many projects, even bigger than theirs. Especially, the issue is about funds projects involved.

Investing in Gala right now does feel a bit like being in the middle of a rocky marriage. But remember, relationships have their ups and downs, and so do investments. If you believe in the project's long-term potential, holding on might pay off in the end, especially with the bull run on the horizon. It's always a good idea to diversify your portfolio and do your research, but sometimes, patience can be the key to weathering the storm.

Gala is one kinds of altcoin with gaming feature and during hype with many gaming coins is worth for investing but I don't sure if you keep holding when gaming coins not really popular right now. All time high of Gala coins last two years ago and success reached to $0.8 based on Congecko updated, but current price of Gala coins more dropped drastically until $0.0159 and almost 300% more dropped than all time high price.

If you hold or invested during Gala in lower price is not bad ideas for holing but I doubt will get chance again for this coins back or touch close with all time high price. Right now gaming coins is not really excited after many gaming cryptocurrency project have been scam and their coins dropped drastically.

I really feel sorry for those who have invested in GALA because I see that GALA has a very high scam potential. It will be safer to store assets in BTC. I had a bad incident in 2017 where I lost almost $1,000 in altcoins and since then I decided to keep my assets in BTC only.

That is one thing with altcoins. A time will come when they will be hyped and they will reign and act as if they dominate. They will give unexpected profits and lots more, but when the time is gone, it will be a thing of the pass. I remember when Gala was a hot cake investment asset. But today I have seen people mentioning coins worth holding for the upcoming bull run but no one mentioned Gala which means it's time has passed. But I am sure as Op, some other people's investment is trapped there, they should wait for bull run and if there is some kind of growth, they will sell, even if it's at a minimal loss.

Currently, the alternative coin market is very risky to invest in, especially if you want to hold it for the long term, then I would advise you to stay away from alternative coins. And if you want to invest in alternative coins, then it is better to invest in the top four or five. And in this case, Gala was one of the best altcoins. Currently the market condition is bearish so chances can be taken by waiting for the bull run inside it. But bitcoin will be best for now for the security

Some of the altcoin is not reliable and it's not worth dependable because they do crash on the way, so therefore it's good for someone to be careful to any altcoin is investing on, because during the time of investment you have watch and investigate properly before investing, because if you don't invest in cryptocurrency properly you will you end up losing especially all this new coins, in altcoin investment someone don't need to go into long term investment, a short term investment is the coin that will gives you what you needed or what you want because you will not allow bearish season to meet you during the process of investing in newly introduced coin.

Gala is a blockchain gaming ecosystem base on Coingecko. Are blockchain gaming becoming popular right now? No they aren't. The hype around it is over. Even the most famous blockchain gaming which is Axie Infinity already lost it's users. Though I can still see some blockchain games that are still up, I don't think that they're that popular until now.

Add the fact that the developers are facing a legal dispute, both of the things are a recipe for disaster for the project. I will not be surprised if this coin will just go down even further, and even though they win on that legal dispute, I don't think that the project will recover. The only way for them to recover is when the bull market starts.

Is it a good investment? No for me. As much as I want to put my money into blockchain gaming tokens, I believe that there are far better altcoins out there that are worth to invest my money with.

Depends on how they convince new or old investor to pour some money again on their project. Since if they cannot accumulate people to buy their token then expect that the same scenario will exist, so if you cannot handle the consequences of the current situation much better if you do cut loss. But if you feel that there's constant update happening like good plans set to pump and raise the interest of people then maybe hold if you can still able to do it.

Any Game-Fi investment has a short life span, otherwise the investor runs the risk of running into trouble in the form of sharply depreciated tokens. GameFi tokens suffer from inflation because investors and small market players are not interested in the development of the project itself. All they are interested in is making money. If you constantly pull liquidity out of a project, sooner or later it will go bankrupt. This is what happened with Axie, people came there only for earnings and getting rewards for the game, they were not interested in the game itself and tokenomics at all. That is why the Axie project lost its value very quickly.

If you do have a good amount of Gala in your portfolio, I would advise you not to buy more of Gala but instead buy bitcoin which is a safe investment. If you have less amount of bitcoin, you can take the risk and buy gala at this price of 0.015959

The price of gala has been declining in price since the legal dispute between its CEO and the co-founder started. Many investors are been selling because of that and the possibility of gala recovering to its peak price of 0.8 is now slim but let's see whether the bull run will put a smile on the faces of those who are to hodl their gala till then(2024/2025)

Alts are more risky to invest in. GALA is no different especially the current price is declining. Investing in this coin is risky since you're not certain if it can recover once the bear market is over.

So if you already invested, maybe you can wait and see if there's a changes. But if you didn't invest yet then refrain and look for other coins that are worthy to hold (like Bitcoin). I'd rather invest to established coins than to take risk in a coin with no clear future if it might skyrocket or turn as shitcoin.

But you are only looking at the best possible scenario, altcoins can in theory produce more profits than bitcoin, but that is the theory, the reality is that most altcoins will never produce profits and the few that can will only produce profits for a very short amount of time.

And it seems GALA falls into that category, as it has been producing losses for almost 2 years and its price has suffered a spectacular crash of more than 98% from its all time high.

There is no doubt that many investors who had invested in Gala are worried after the news about Gala and there are many who have sold. This is because they are afraid that Gala  token may be zero. This news has caused the price of the Gala coin to drop by 8% to 10%, Although such news should have caused a bear market to drop by 50% to 60%, the project is strong, so it did not see such a big drop. In such a bear market, an 8% price drop is normal.If you have Gala Token and are thinking of holding it instead of selling it, then your decision is best.

I think there is no need to sell Gala tokens at this time. If someone sells all their tokens at a loss, I think it would not be a good decision. If there is bad news in such bear market then DCA cannot be done. If you want to hold or sell, it also has its own procedure, if someone wants to sell, I think by selling 50%,If the market falls further, it can be bought back from the bottom, or re-entered where good news comes. So I think it's not such bad news that people panic and sell their assets at a loss, and if they have to sell, this formula of 50% hold and 50% sell is the best.

This could be a game over for GALA as many investors are slowly cashing out even at a big losses.
I suggest if you only lose 20% of your capital here better to sell and reinvest it with Bitcoin, by doing this you can still have the chance to recover your loses especially now that Bitcoin is cheaper and the potential bull run is still in the market.

Just an update on my own situation - I am currently 52% down in my Gala position.

I haven't bought any for a while and only planning to if it falls to £0.01 which would be another 18% drop from where it is at current price.

If this situation is as bad as everyone says it is, then it should fall to my target price and I will then buy my last 20,000 Gala which will take me to 50,000 total.

I will then hold and just hope for the best and that it makes it to the bull run, if it recovers then great if not then I can live with the loss.

I first invested in Gala hoping it would reach £1 next bull run , but now I will be happy if it can just make it back to £0.10.

I think you have an easy strategy with it, indeed this is not a project that I am interested in but I also think it will still respond and maintain future growth with the fields of trend combination new direction. It would be very relaxing if anyone was comfortable investing and facing losses. Personally, when I look at the GALA/USDT chart, I also think it depends on the level of research to make an investment decision with it.