It is good to carefully analyze the market before selling your coins but the same applies to buying as well. A lot of people fall victim to FOMO created by some fake projects and invest just because they don't want to miss out on the opportunity but they should always remember that even if they miss out right now, there will be more chances like when the token gets listed on the exchange and should always do their research and then invest instead of just investing under the pressure and FOMO.

It is better to wait and buy a token at higher price as opposed to buying it when the hype is being created. I was skeptical about investing in polkadot and I bought it at a higher price than what I could have and DOT is an excellent project but I am satisfied because there is still lots of room for profit and I have been fooled many times in past by fake ICOs which made me buy the tokens hurriedly.

Well said, right now the market is really bullish despite some corrections in some coins and tokens. Although I think even when we invest at times when the market is down, we must have a long term vision and should not touch coins which would die within a few months and have no real development behind them. As a trader maybe we can buy when market is down some shit coins and sell some once the market lifts, but I would always recommend going for solid and visionary projects.

Good ones and Ethereum 2.0 will be a revolution, I think. I would just add polkadot to the list and maybe Tron because of their cheap transaction ability on TRC-20 chain.

It is always obvious that corruption is the root cause of whatever problems nations have and there is no denying whichever "ideology" they claim to be corruption is the real ideology of these people, from the most advanced nations to smallest nations it doesn't matter, nationalism, communism, capitalism, socialism, whatever they claim to be as long as there is corruption it will always be horrible and there is no denying that; which is why I think crypto is great since it gives you the chances to actually do whatever you want as the public and citizens can't be really stopped when they are using crypto and that is why its uncorruptable and this is the thing that dictators hate about crypto.

Think about top 100 companies in the world moving their reserve cash into bitcoin, can you imagine what that would look like? All companies that have cash in their bank account doing nothing or collecting like 1% interest rate, would be willing to put their money into bitcoin, we are talking about at least 100+ billion dollars here, and all those wall street companies like JP Morgans and Bank of Americas and many others like that add a crypto section to their investments as well? That is at least another 50+ billion combined.

We have moved so much with just 1.5 billion dollar addition, if we one day reach to the level I am talking about, it is simple impossible for bitcoin to be under 500k, it would really happen. Could this happen anytime soon? Not likely, it will definitely take a long time, but in a decade we could actually reach to that level so buying bitcoin right now could still be considered cheap.

There is no way Elon does something just because it would be great for his company, we all know that dude doesn't care about his companies in the financial sense because he wants to achieve something and he does that no matter what the costs are, dude even talked with some dictators to get some extra cash to do what he could actually achieve, he doesn't care where the money comes from and what the situation is like as long as he does what he can.

He was in trouble with SEC many many times so far as well. All in all I have to say that we are in a situation where Elon could totally say bitcoin is horrible and nobody should ever buy it and crash the market or he could just convince board to buy 1.5 billion dollar more, everything is possible with him.

Dot was already high, it is still quite high if you ask me, this is not about Dot being high or low, it is about dot being undervalued or overvalued and I can tell you that it is not undervalued. I am not saying that it won't go higher, if for example BNB goes 2x, do you think Dot going 2x would mean anything? I mean if other coins are going up the same amount, that means Dot going up is just given and not a shock and should be what we expect anyway.

So, what we need for it to be considered undervalued is Dot going up while others are staying same and not going up at all. Do you think it could do that? I do not really think that it will do that, I believe it should probably be at a situation where it will go up when others go up and will go down when others go down and that's about it, it will not individually go up too much, will probably just stay the same as long as market doesn't move.

That is the right decision, but unfortunately there are too many people who got into panic mode and sold all their coins, those are the real loss makers and they are dropping the price as well, I have no idea why they are scared so much. I mean the price was under the current prices about a week or so ago, why are they so scared? Why do they think that price will be 10x with just a slight increase and think 90% down with slight drop? Bitcoin drops 10% constantly, at least once a month since it started, that is as normal as it gets.

I do not get people who are scared of every single fall. I agree with you that getting in right now would be a great deal. In fact I am going to talk about a 5k dollar loan soon with my bank as well, and if I can get it, I will probably put it on crypto as well, if it falls a lot, I still have enough money from my salary to pay it, and if it goes up I will cover it even quicker, so there is no loss for me.

I think it is both about panic but it is also about support lines, the higher you go and the faster you go it becomes harder to actually keep it from going down, for example if you wait at 50k price for a whole year without ever going under 50k, it is going to be incredibly difficult to make it go under ever again, but if you ever reach to 80k in a day, you can go back to 50k in a day as well, why? Because there is no support line built in.

We have increased a lot this week, and that increase was not built in just yet, we didn't had a decent support line, which caused the price to drop a lot easier as well. I am not saying people didn't panic, of course they did, but we are throwing all of them under the bus for this drop whereas I think there were other things involved as well, like whales selling and lack of support line played as big of a role as people who panic sold their coins.

You made a mistake by selling your coins immediately, you should have had patience and waited for the market to climb up.

If you know you’re going to be panicking in situations like this and ending up selling your coins at loss, it’s best that you sell when the market is climbing up and you have profit, than waiting till things like this happens and you start running around to sell your coins and at loss. That’s why any money you’re investing should be what you can take when there is loss, I have a friend that lost during the last bullish market in 2017 and he never sold, he had patience till this year to be able to make profit again. So that’s just it.

I must say I wasn't aware but I should also say that despite liking it, I won't agree to it in the case of Bitcoins. Imagine replacing the world knife by gold would give a whole new meaning and bitcoin has shown in past that it has that tendency to rise with double the speed it fell and reach even higher limits than ever before.

Yes, if we were talking about stocks market, I might have agreed with the saying and keep in my mind for future but this doesn't just apply here I think. The same might have been whispered into the ears of investors last year around the same time as now and people would have dumped their coins for awfully low value and never purchased again. Those who actually had the courage to catch the falling knife, are able to also enjoy the rewards now.

I do not agree that those top coins could give you a decent return, even if they do x2 which is very difficult at the current stage considering they are already super high, that would gain you just another thousand dollars and nothing more, which is not a bad amount of money but will not be really that much to matter in the end as well, if you are willing to risk your money into crypto, why get only 2x when you can make more.

This is why I would rather suggest defi tokens, they are giving a lot more money right now and ETH chain asks for 100+ dollars just for network fee so you should stay away from that. It leaves us with one thing, having some few investments on BSC defi tokens, if you do that, you will eventually have a decent sized profit, and it will be not a bad one, sure it is risky but when you are taking a risk at least the rewards should be higher.

I would even go ahead and select DOT as the best of the three. I like the suggestion you gave about investing into bitcoins but not everyone can just abandon the altcoin market and dive into bitcoins, a lot of guys are still trying to find upcoming good projects in which they can invest and make some quick bucks. There are such projects and DOT is one of them by the looks of it and maybe ADA as well, but I rate DOT higher than ADA for now.

The only thing I don't like from team Cardano is that Hoskinson doesn't ever talk good about Ethereum and that makes me feel like he doesn't respect even the fact that he was one of the team member of Ethereum initially. But no doubt some very good development being done on ADA though.

My opinion is, if you built something at least have some respect even if you don't like Vitalik or Ethereum itself.

Firstly, you don't pay any fees to "own" Ethereum or any crypto. Yeah to transact Ethereum you have to pay fees and the fees is completely dependent on fast and urgent you need the transaction to confirm.

By the way if you transact 10 ethereum or 100 ethereum you pay the same fees almost and that is one reason why people prefer to make bigger transactions specially given how costly the transactions are on ERC-20 right now.

I don't know if its possible but with Bitcoins people used to send mass payment to avoid higher fees, is that possible in Ethereum I really don't know but it saves a lot of fees.

Taking risks is important but the risks you take should not be egregious or idiotic like investing everything you have into a new coin just because they were able to convince you into investing. Sometimes people say that buying Bitcoin was not a risk and people should have invested more, but explicitly speaking I always think there was a risk because although the model of Bitcoins was never in doubt but the adoption and acceptance always in question and we are great to have bitcoin being loved as much as it is, but there was not guarantee about that.

There should be a balance between the risks you are taking the rewards you are expecting. Taking a risk might be a student dropping out of college and starting his own business but not everyone can be Steve Jobs or Michael Dell. I have seen more people destroy their career by quitting their education than I have seen earn millions.

One might say Steve Jobs took the right risk which is true in hindsight but the same won't be said about him if his idea and plans failed.

There is one more thing that I always say. Let's say you can "save" 300 dollars a month, there is nothing wrong with taking out a loan that has 300 dollars payments monthly as well. Sure there could be the fact that if something wrong happens and you need money urgently that would be sad but I am sure it will be difficult anyway, whereas if you can take out a loan that you can pay easily no matter what, I suggest doing that anything you can.

I like taking out 1-2k loans for example, that way I pay about 100 bucks a month and be done with it in just few months and I just use that money to invest into things whenever I want instead of waiting for months. Of course do not withdraw loans that you will have hard time paying, I never take out a loan that I would need the investments to pay, I rather pay my loans with my salary and just grow my investments in size.

I think if their plan is clear and more importantly transparent about how they are spending the money and what is the model behind revenue. There are some good platforms where you can put money and they pay you interest as they further lend the money to borrowers. Although I trust none of them almost and I will not recommend any names.

Even I heard of them and now as I visited the site as this discussion is going on, I saw they are offering APY upto 8.67% which is decent and doesn't sound like a scam model.

the problem remains the same though as you lose control over your crypto, there is no guarantee you will get the control back ever again and the worst thing, you cannot do anything or make any kind of claims because everything is decentralized and you don't know even know who has your funds.

I agree but the same was being said about Ripple but it took a lawsuit against them to destroy everything for us. I mean now its getting removed from exchanges and the volume and price is dropping day by day which makes me feel like the end is near for Ripple.

I think BNB, ETH and maybe DOT can be the best 3 coins in the market along with Bitcoins as far as longevity of coins is being discussed. There are some other good coins like TRX and LINK but not sure how they will do in the long term. There is also USDT but I never liked it because its centralized and the reserves are unknown so it might stay if they remain true and honest.

I do not think selling is a bad option if you actually buy once again when the price goes down because some traders do not have big capital and the best chance for them to earn is by selling and buying bitcoins frequently which gives them profit and once the capital is big enough maybe you can just buy bitcoins and become an investor. I saw some traders turn into investors but it requires some solid capital first.

As someone who has seen adverse and joyous times, I can easily tell you that when times are good its easy to advice and suggest things but when the market was breaking everyone was trash talking for bitcoin and it was not easy to stick with the coin you had. You will see once a bear run starts there will be some negativity again despite no fundamental changes in bitcoins.

Haha same here but when the prices are falling somehow those articles convince me that I should NOT invest now.

I think this question is rightly asked to those who suppose have invested their everything into bitcoins and what will they do when the market drops sharply and there is no reason like just falling down rapidly. Personally if I was into such situation and the money I have invested into Bitcoins is my only capital, I would be unfortunately be converting my bitcoins into stable coins for the time being until the market stabilizes a bit.

I don't think it is ever going to happen though because now big investors have joined in and they won't let the market go down by much.

Hmmm I think they are only going to block accounts that are found with crypto activities after the ban has been declared. But if the activities on your account are past activities, I don’t think they are going to do anything to you. So, just chill. And moreover since centralized exchanges are no longer going to work there, you no longer have a problem with them.

This time around if you want to trade you’re going to have to make use of decentralized exchanges in Nigeria, it’s possible that there are many of them that will be available there, like Paxful, Binance DEX and the rest of them. And this time around anyone trading cryptocurrency in Nigeria has to be careful and also keep it secret.