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by choosing a new project that is currently available, maybe a 10X increase can be easily achieved, but it is not easy to identify new potential projects in the future, if we do not have the competence in that matter, it can happen that we are trapped in the project hype. especially in a bear market situation like this, it seems difficult for us to see an altcoin like that, considering bitcoin has not shown a reversal direction, so it has an effect on other altcoins
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if we study the performance of cryptocurrencies first and understand everything, then I think it is worth investing in crypto, and bnb is also one of the altcoins that has potential in the future. especially now bitcoin is still experiencing a decline and that means it is an opportunity for us to start buying and waiting for the next buying area if there is a decline again. and if we are in doubt then bitcoin can be an option to invest in cryptocurrency
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While the market is on a downward trend, Bitcoin the giant of the crypto market has seen a drastic drop, and other altcoins followed the same trend, will we be able to recover, another coin like Luna did a total crash which is so bad for investors. In this scenario, can we still trust a high and unpredictable volatile I investment such as altcoin in this bear season?
LUNA does not represent the totality of altcoins meaning that even if this coin has a drastic fall yet there are so many coins that we can expect to climb and best to invest .just be wise in choosing and be aware of the risk so only the amount that can be losing will be vested into this. also Altcoin is risky ever since just like Bitcoin as this is the representation of crypto market , a very volatile , a very risky , but also a very profitable area where you can invest and keep for long term. Don't let us just be spectators when the bullish season comes, if we don't take advantage of this situation properly. Indeed, Luna is a concern for investors, but not all top altcoins are like that. therefore investing in bitcoin seems mandatory for me and choosing several altcoins that are close to bitcoin will be more comfortable |
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Well, this could happen if bitcoin starts to pump quickly and again reach all time high. If El Salvador possesses a lot of bitcoins, it could become the richest country if bitcoin cross 100,000$ or 200,000$. As per the OP, eight years are enough for bitcoin to be at these prices, and also El Salvador should accumulate many bitcoins during these times.
What about the sufferings that whole country will face for 8 years. AFAIK, Salvador start buying btc when it was over 50k and that's the biggest mistake they made. Everyone loves to jump in the boat when market is going up. If Salvador coolest dictator have so much faith in bitcoin then why not he bought btc when it's bearish? This means that currently their country's wealth has shrunk by 40%, and you can imagine how much suffering the people there are, because when they legalized bitcoin the country was already in a state of economic difficulty. don't we often say to buy bitcoin with free money, but it seems the opposite of the situation experienced by elsalvador, moreover, of course a country interacts with other countries |
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There is no doubt that what the op says is true, the dislike of interested parties who don't want bitcoin adoption is the biggest problem for realizing bitcoin adoption worldwide. Let's not talk about the full adoption of bitcoin just yet, in just one country there are still many who oppose its existence, so that will be a big obstacle for bitcoin itself.
moreover, those who oppose it are people who are influential in government or the world, so they have the power to make clear rules to corner bitcoin, and this kind of thing of course later nature will answer, where when fiat is no longer relevant to the civilization of that era, there will be a cultural shift. but also no one knows what will happen in the future, and I think it really takes time to meet our expectations as bitcoiners |
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and what needs to be emphasized is the greedy nature that always permeates every human being, therefore we must be able to control it
therefore, every trader should make a plan that they make from scratch. Don't be too greedy to get big profits in trading. The importance of experience in trading must of course be considered to minimize the risk of loss. traders have to manage and limit the assets that we can trade. Many traders cannot control their emotions when they lose. and choose to put in too much which will shackle more money. the trader must know when he is satisfied with the profit as well as the loss he can bear. We can copy an existing plan or strategy for others and we can just do a modification based on our own taste or preference but I think you are right that it's always better to create our original plan from scratch. This can make us a better trader than relying partially on the plan of others. Being greedy is not right but I think being greedy is the only way to make loads of profits but that is if they are also lucky however if they made a profit, chances are is that they can still use all of this money to make more money because they are greedy anyway. This is where the importance of planning comes because when we have a plan, we will follow it and we will ignore our emotions if ever we lose or even when winning. right, we are here to work, so we must obey the rules that we have made. in this case, of course, greed is an action that goes out of line with a predetermined plan to achieve the target. means we are not disciplined against the framework that has been made, based on the analysis of price movements. if we can't control this, then maybe we won't be successful in trading, because of the nature of wild greed |
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Guys, any suggestions for short-term investment?
No short term investment can give good return, it is nothing more than a gamble. Shitcoin projects are an option for short-term investment as they are mostly created to hype and then disappear, so when you invest in shitcoins you have to accept the risk. I think you should think again because short term investment really never give profit, you can become a day trader to be able to make daily profit instead of investing in shitcoins. The rule of thumb here is that if we follow the correct rules, the shorter the time we use here, the greater the difficulty will be. Yes, but here is the training required to be able to run the science financial management well and what to chat always keep an eye on all the coins the shorter the period of time we invest, the more difficult it will be to make a profit, because with the bearish season that doesn't know when it will end, we are pressed for time to make a profit. especially for beginners in short-term trading, of course it will be very difficult, maybe once or twice we get lucky, but luck will not always be present, because it requires a high level of knowledge |
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This may happen because the project team is trying to fix the existing problems, but it all takes time and I think it will take a very long time because the value is currently very low, in fact UST is a stable coin that has long been the full confidence of investors but due to the LUNA project, UST is also badly affected at this time, recovery is being done hopefully will return to the highest value.
but it becomes a serious risk when ust slumps like today to return to its original condition if we want to invest. very risky to put most of our capital in it. but if you use a little capital, I don't think it will be a problem, who knows the condition can recover and we become new rich people. even though the devs are trying to fix it, it feels like it will take time to restore the condition to its original state, especially during the current bearish season |
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Bitcoin and ethereum, yes, everyone will agree with that, because even though there is a bear market, the two coins are always able to deal with it even if it continues to grow even in extreme market conditions. Because of that Bitcoin and Ethereum are where I save even if I buy small amounts, but consistently I believe in how many years my assets will be large compared to holding other coins that have never had a good history in dealing with extreme markets. But talking about HEX coin I think it is less popular and there are still few who believe in its potential
i agree, bitcoin and ethereum are the main ones to hold on to long term, for the future. many people only focus on making big profits in the short term, and they end up getting the exact opposite. if we understand that saving even a little every month will certainly provide benefits later, because it doesn't feel like the assets are getting bigger and prices will go up, so it will provide benefits for us |
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With the current situation, it is difficult for us to predict a coin that we want to hold, even very many investors are stuck with coins that they believe can get big profits, as happened to LUNA coins which are currently falling in price and very many who feel losses, so investing in potential altcoins and bitcoin is the right choice for now.
Terra is also one of the standout potential coins this year, many even comparing its growth to Sol last year, everyone who owned Luna at the time was waiting for it to become the 2nd Sol. But then everything fell apart, one coin had an ATH of $119 and it only took 3 days to drop to almost 0. Other than bitcoin, all current options are risky, we don't know which coin will be the next Luna. So DYOR and only invest with what you are willing to lose, don't invest all your savings like OP. at least if you want to invest all your capital through diversification, so not just in one coin to invest. that way if one asset experiences a bad thing like Luna, then there are other assets that are still resilient. What needs to be considered at the beginning is that cryptocurrencies are very risky, so if our lives end because of crypto, of course we need to question their knowledge of cryptocurrencies |
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You can indeed use the top 100 altcoins as a reference. but you should also consider developer and project updates. The LUNA case should be a lesson for us. even the altcoins that are at the top can also fall.
I just wanted to share my own experience when I didn't read anything and missed the news regarding the LUNA case. seeing the price being at the bottom makes me itch. and finally, I bought it. a stupid decision that almost threw my money away.
I was lucky it was really at the bottom, then in no time a bounce occurred and I immediately sold it. so stupid I bought without research. just lust when I see a cheap price and then I panic to buy it.
by looking at a deep decline, at least there has been a decline of up to 50%, so it's not surprising if we look for a buy area, especially in our minds Luna is a solid altcoin, but in reality everything that happened was beyond our expectations, so I don't think what you are doing is not stupid act, but technical analysis is appropriate, it's just that the fundamentals may not have been studied, lucky you are still safe by selling again when the bounce occurs |
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I was around last bear market season and its really devastating especially I lost a huge amount of money for thinking that price will recover after the dump. The only thing I do know which I learn from the past mistake is never to hold any crypto when halving is already done, sell and secure your profit since mostly after halving the price dump just like what we see nowadays.
The thing i learned from the last bear market is that to never resort into panicking and sell at loss. Even if the market falls deeply, it won't stay in it forever, and after a couple of months things will eventually start to become stable again. So stay patient while accumulating more bitcoin and established altcoins during bear season. And for that to make it happen, maximizing your purchasing power, we should at least secure profits when the market was still having a bull run. when crypto was still in a bull market, what I did was sell some and more than the capital I used to buy, so when the bearish season arrives, I'm still calm and lucky to keep holding it, until now, I can still buy it using my profit sell before. I personally am not very good at analyzing, but in that way at least my psychology is maintained, so that it suppresses the greed that exists within me. I didn't sell it because in this position I bought it for the first time, I learned this from 2017 to 2018 |
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Would you rather buy a house to live in or rent an apartment to invest in bitcoin Since bitcoin is experiencing bear what decision will you take make use of the season or let it pass.
for me a house is the main need, but on the other hand investment is also a priority. therefore I will choose both by placing the portion of the allocation of funds mostly for homes, and partly for investing in cryptocurrencies, because nowadays it is easy to apply for housing loans as long as we do not have problems with banking. By choosing both, haven't we already diversified our assets, thus minimizing risk and we are comfortable living in a private home, so we can work optimally |
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I think loans are the last option if all things can not be done, it is better if we sell assets or pawn assets such as home or land, but the next thing is to use for productive things such as opening a new business or increasing capital, do not use loans for consumption because will make us unable to pay debts.
Taking a loan is supposed to be for productive activities, but to invest or invest, you should already have extensive knowledge, because this carries a greater risk. just like when we invest in cryptocurrencies, of course high volatility becomes a big risk if it is not accompanied by adequate knowledge, as is the case when we open a business, of course targeting prospective business opportunities and according to our abilities |
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It’s good move.When the market crashed,most of people worrying about their lost money.But you made a brilliant move of investment.Strongly I will support you for this.Some of the trusted coins are ADA,AVAX,BNB,ETH,Solana,XRP and TRX.Don’t buy the USDT,by seeing it was increasing.When the other coin was decrease.The USDT act as mode and so it value increased.
USDT is a stablecoin that is only suitable for storing a number of assets as well as the value of existing assets, because USDT is not recommended as a long-term investment because its price increase is always the same as the value of fiat dollars so it is less suitable to be used as an investment, not because it as bad. The volatility of USDT yesterday was just a fomo effect of the UST, it will soon stabilize again. USDT is a stable coin that investors hold to avoid the price drops of altcoins when the downtrend occurs. The USDT rate only increased against the fiat currencies of some countries because people started buying a lot of USDT to catch the bottom of the market. USDT is a reference for preparing to purchase investment coins. By parking it in USD, it allows an investor to buy according to his analysis at any time, or even place a pending order beforehand. the right time to buy is when many people are afraid to buy, so we have the opportunity to buy at a low price, if the market goes down then we can buy it back according to the support area that has been determined |
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Maybe it is time for a bear market, and we must be able to accept because this is what happens in the crypto world, to invest of course we must be careful not to experience big losses later, and we must choose high potential altcoins in investing so that later in the moment of increase we will definitely get a big profit, we must be patient to face the current situation until later bull run occurs again.
I think we shouldn't be afraid to face a bear market, instead we have to buy more for the top coins and wait patiently for it. things that seem easy to say but are actually difficult to do because we prefer to buy during fomo, because we prefer to get profits immediately and in large quantities. but actually a good investment is made when the candle is bleeding like now, when people are afraid to buy |
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Saving and investing are two different things, saving can be interpreted by setting aside a certain amount of money to be saved and the money can be used at any time if needed. While investment can be defined as investment activity within a certain period of time with the hope that the use of the capital can generate profits or increase in value.
and all necessities of life go into savings and use it when needed and this is very important, and I use 75% of my salary income for living needs, lifestyle, impromptu funds and also my parents. And 25% for investment and for long-term investment and if done consistently and disciplined the results will be felt.
right, saving up to now is defined as setting aside money without risk, just like saving fiat, where the value will remain the same at any time, in contrast to investment, even though it is the same as setting aside money, but contains risks, on the other hand with investment we can increase the value in currency fiat money, which is often referred to as profit. and investing is often referred to as saving in a smart way |
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I think that, in a way, it's already a world currency. That's because it's used and is accepted at least by some organizations all over the world. However, it's sometimes accepted only in a tiny number of places, and there are probably countries where it's not accepted at all by anyone. I don't think so because its adoption and use as a legal currency is still very limited in many countries. Although some large organizations and several countries legalize it as a legal tender, it does not mean that bitcoin has become the world's currency. Today I think it has become a recognized investment and trading asset in the world, it is not yet a world currency. I would say bitcoin as a world currency when the percentage of its adoption and use as a legal currency has been recognized by more than 50% of the world's countries, and maybe not now. of 50% of countries in the world if most developed countries legalize it, it will have a big effect for continued adoption. because they have a big influence in the world economy. but in that direction, I don't think it can be done in the near term, considering that currently the government still maintains their respective currencies using a centralized system which is still considered relevant today. |
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Bitcoin will continue to influence the movement of altcoins forever. Because Bitcoin is the spear and has the biggest marketcap. We say that Bitcoin is the mother of all coins and its every movement will always affect the price of altcoins.
the current bitcoin price movement again provides evidence that its price actually affects the price of altcoins. when the price of bitcoin dropped to the $30k to $31k range, almost all the altcoin assets I owned fell in price. in fact, the decline was by a large percentage, even when the altcoin was still in the development stage. however, I am increasingly believing that no crypto will ever be able to replace bitcoin. I firmly believe that almost everyone feels the same way when they see the price of bitcoin go up, or down. it really gives great effect to altcoins. The decline in bitcoin did have a big impact on altcoins, almost all altcoins, especially those at the top, experienced a decline as well. this is proof of bitcoin's might as a leader of the altcoins. Let's just wait for the bitcoin season to arrive until the altcoin season will continue to rise. although it has a greater increase than bitcoin but if there is a decrease, the altcoin will also decrease by a larger percentage as well, By being seen as the safest coin in cryptocurrency, bitcoin is one of the mandatory investments if we want to diversify into altcoins |
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