Assuming I've made up my mind to hold on to a token for many years but after a year this token hit a new ATH what should I do as a newbie? Sell or not sell?
It's wise to sell it when the value is high because you may not get such opportunity in the future. The reason people hold altcoin is basically to profit from them and once you have the profit, move to stable coin, to buy back when the value is much lesser, if you so much believe in the project. Don't be blinded by the promises of the team or developers. You should also diversify to include bitcoin in your portfolio and other more promising altcoin. |
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Todays current situation for Luna all my works just stop and cant belive whats going on with this scenario!! Lost too much in my life savings!! Now thinking about invest on btc at least there is no chance like 98% dump at least stable coin looking to more risky!!
I feel your pain, it would be disastrous to go through stuffs like this more than once. Bitcoin would never be in this kind of mess unless the entire cryptocurrency industry is going down. I've also considered the strategy of storing my funds for long term hold in bitcoin or at least USDT. I hope this does not fail again, because I may be tempted to quit the industry. |
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It would be impossible to predict the outcome of the market in the next few months, even those who are great technical analysts of the market, tends to run in to trouble sometimes because of the incoherent outcome that the market could give. The issue of the bear market is still active and the possibility of continuing downfall can be expected.
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Decentralisation goes beyond ownership structure. I agree with the fact that a huge percentage of most decentralized projects are owned by a seasoned few, but that does not change the fact that they are decentralized. Decentralisation is could be depicted in the public ledger and transparency of transaction. I recall that one of the characteristics of cryptocurrency is decentralization.
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Investing at a time like this is risky, considering the situation of the market. But investing in shit coin is highly unwise. In the present market conditions, we can see the big brands like bitcoin ethereum, bnb etc reducing in value. These are projects with loyal holders and even at that, the value is diminishing drastically. Consider the shit coin without usecase and a community. One can only imagine how much of a loss it could take.
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I've always believed that all altcoin were tied to Bitcoin as the value of Bitcoin tends to determine the value of most altcoin, but it's nice to know that some projects could choose to pair their coin with a stable coin to influence the value and prevent the influence of Bitcoin on them, this sounds like a good idea as the coins value would have limited fluctuations.
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The Interest rate of 13% per month seems too good to be legit. It's possible the project seems to be doing something legitimate but underneath that is a ponzi scheme in progress. You can go ahead and invest, if you consider it a good deal, but be sure to leave soon or you'll be scammed. I personally won't advice anyone to get involved in ponzi because you lose more than what you invested at the end of the day.
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Solana is a good altcoin with the potential of growth especially when the market is bullish. This could be a good time to get some quantity, though there's still a possibility of the value reducing more as the market has been bearish for a while now and it doesn't seem to be changing soon.
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Given that Bitcoin is considered a store of value, can you use a cryptocurrency that can guarantee day-to-day usability? How to go to bakeries, fill up the car, travel, etc? Do you know any coins like this?
When it comes to daily usability, the best coin we have is bitcoin. This is because bitcoin has the highest acceptance rate in the world, the second could be ethereum and probably a few others. Every other altcoin are held for investment purposes and not for their usability. The world is yet to accept cryptocurrency and this could be tied to the fact that the market is volatile in nature. |
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I personally don't see staking 1,000$ for an annual return of 95$ as a bad idea, because the risk is less or completely absent. It would be way difficult to get such a deal without any risk. The best we can get in banks is less than 5% on savings. I recall in binance the staking on USDT is flexible, giving the opportunity to cash out immediately when in need of it.
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What platforms or websites do you use to track projects before your ICO? And what criteria do you use to invest in them?
It would have been great to have a platform or website where projects could be tracked and investors could be guided before making investments decisions, but I doubt there are any which could be trusted, because most of the platforms or websites are being paid by projects for advertising purposes and most times when you see them trying to flaunt the usecase and potential of a project, it's purely an advertising gimmick. |
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I love the graphical representation of the potential of this new projects (hidden gem) and the comparative approach utilized by the OP, but the issue is that when it comes to investing in this space, most people won't look at all these factors owing to the fact that they really don't determine the success of the project. It would be impossible to have this project override bitcoin because of the features it possess which are limited or unavailable with the bitcoin.
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We can only hope that this is not another exit scheme in place. We may pretend that their twitter account was Mal functioning or has been compromised. Let's wait for them to give us a report of what actually transpired that accounts for the deletion of tweets and unfollowing of everyone.
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Looking at the present situation of the market, it's logical for one to think that every thing is coming to a halt, with the incessant news of projects cashing out or going down the drain. We now need to be careful about our choices, not all that glitters is gold and the market has a cycle on which projects without a solid foundation or roots may not survive.
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I really don't see HEX as a coin to hold for a long term, going by the coin market rating. I'm personally doubtful of projects above 100 on the list and seeing HEX on the 201st list is not a good indicator for long term hold. I'll rather trade the token or hold for a short duration, carefully checking to get the best out of the market.
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The issue of Luna is now more glaring as the dump was massive. Even with the Luna V2 there's is still a vacuum that has been created which cannot be easily forgotten. The amount of Luna airdrop we receive has even dumped substantially and that leaves every investor unsatisfied with the project.
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This could actually be the best time to get altcoin especially as the prices are cheaper, but one has to be careful as there's a risk of the value dropping further. But when you're investing in a solid project like ethereum. You don't have to worry as the value would certainly increase more in the bull market. So be smart about investing to avoid getting burnt.
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Airdrops of these days comes with the cost of paying for your gas fee which may be exhausting especially when it's on the ethereum blockchain. Even after spending on the gas fee, there's no certain that the project would do well. The cost of bounties are your time and data. Most bounties are not lucrative, but when you're fortunate to have a good project, then it could be very lucrative.
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