My worst mistake it was a day I sold out one of my altcoin, I sold out a coin I bought worth 20$ and when it pump to 70$ between two days I sell if off, after selling it, it start pumping more more and more. Between seven days the coin have increase in price massively. Do to my own calculation if I have leave the coin still that seven days I should be cashing out more than 900$. I sell out the altcoin because my tell me that the will soon dump because the is not yet listed in to exchanges like binance
I believe it depends on someone target, because I believe Bitcoin doesn't have selling point but your target will determine when to sell your Bitcoin, Bitcoin is not just a coin that just will pump anyhow so Bitcoin is a coin that will be pump gradually. So for does people holding Bitcoin they need to hodl, hold and hold for a long period of time to be able to make a real profit out there. But For me I bought 300$ worth of Bitcoin and I have target to sell it when it reaches $100k per dollar.
Before getting into trading you need to sake for some knowledge on cryptocurrency, you need to understand the market of cryptocurrency. You also need to know more about coins graphs, to know how it goes up and how it come down and when to pick again, So this are the things that can help you be a good trader. And before getting into trading you need to have huge capital so you will be able to trade different coins. And when trading you don't spend from your capital if not you will not understand your trading and you will end in losing.
It all depend on the type of job you are with at that particular time because their are some jobs that doesn't what your leaving, but you don't have an alternative. For me if I can make more money in trading cryptocurrency I will quit my job for it. Jobs are control my bosses but trading is your own business. If leaving your present job for trading crypto can solve your problems. Why not leave? Their are some people out there making it than salaries collectors or wages collectors in cryptocurrency.
With my little experience holding is the best way, especially for holding for a long period of time. When you can hold a bitcoin or some even altcoin coins for long time there are always a probability that the coins will surely increase in their price for example l bought Bitcoin worth of 200$ when the price was still at $30k and I have been holding for more than a year now.so with the current price have make some profit and if I can leave it for good five years will surely make it more than my expectation. In fact see those that hold doge coin for long time, their are now a millionaire some are billionaire. So I believe hodl is the way
Yes, it is truth that trading is not meant for everybody because trade is out of buy and sell between short periods of time and when you don't have enough knowledge on what you are about to trade you will just continue losing. And in trading you will be a type person that is ready to take a risk compared to the risk of invest. And is not everybody is ready to play a daily risk. Trading also need day by day research on type of coins you when to trade and is not everybody is ready to do research on coins
I believe it is not safe to buy now because the price are currently going down, and nobody knows where dip the dumping price will stop. So my candid advise to everyone to be watching the market for now. It will be more save to buy when Bitcoin price started pumping again but stil depending on time to hold, if you can hold for a long period of time you can buy because it will surely pump one day.