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The really experienced traders know profit can be made in any market, whether bear or bull. It all depends on how you play your cards. This year might mostly be a bear market which gives good traders the opportunity to invest in the market and accumulate twords a bulls market that might just be around the corner. It's a known fact that we can't always have a bull market at every point in time, that is why you see the wise traders taking their time to invest now.
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I believe there is absolutely no way to avoid price dump after listing. The best that can be done is limiting the price dump. Some projects have resorted to methods such as releasing only a fraction of the tokens at a time or even locking most of the tokens for a fixed period of time. This has actually achieved varying level of success. Its a pretty myopic point of view to think that bounty hunters and some others cause the price dump as they often don't get more than 2% of the total tokens put up for sale.
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I am of the humble opinion that majority of altcoins have their prices move in the direction where Bitcoin is moving. When the price of Bitcoin is on the rise, so is the price of altcoins and vice versa. This just points out the fact that Bitcoin is a dominant force in the cryptocurrency space due to it's position as the first of the lot and the trust that this cryptocurrency has garnered over time. The funny part is that some people even refer to all cryptocurrencies as "Bitcoin".
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I am of the opinion that cryptocurrencies do not exactly offer a long term investment plan as it poses too much of a risk. You could expect to gain loads and you end up loosing all because of the hypervolatility associated with the cryptocurrency space. If you really intend to get a store of value, I think one of the stable coins like USDT should do the trick. Another reason why investing in the long term could be dangerous is because cryptocurrencies often thrive on hype, nothing shows this better than how new projects often unsurp previously successful ones on coinmarketcap bar a few.
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Before factoing in other things, I think going through the whitepaper is key. I always wish to confirm if there is a viable product on offer. As much as this is not the end point. It encourages me to look deeper into the project as a whole. While going through the whitepaper, I give more focus to the roadmap and the team members just to see if they have got everything figured out and if there is enough expertise to see the project through. To a lesser extent, I check out how active the project is on social media among other things.
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I absolutely think this title could have been rephased to "Don't keep much coins on exchanges". This is because it is impossible for a cryptocurrency trader not to have coins on various exchange platforms at a particular point in time. Also, it is not rocket science, this advise is making the rounds because your funds are definitely more safe in your personal wallet. The laziness embedded in some traders definitely makes them leave large amount of coins on exchanges over a long period of time and this could attract the attention of corrupt officials or scammers.
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Trading as an art doesn't exactly have a set of rules that govern it. What works for me might absolutely ruin another person. The problem most people have is that they often see trading as mainstream gambling. With this mentality, they will definitely be out of funds in no time at all. Trading involves learning from others and your own personal experience, to put it simply, traders must be patient.
Finally, I'll like to say that those who are largely emotional and very greedy need to work on those two characteristics before venturing into trading.
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There is no surefire way to determine if an ICO is legit, but as an investor or marketer, there are several things you could look out for that could point you in the right direction.
You could start by doing your research on the team members and the type of partnerships they're into. Identifying a scam often starts with the team and as long as you can identify a team that is ready to work pretty well, and there is a product to invest in, then there is a big chance the ICO is legit.
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As much as the price fluctuation associated with Bitcoin is excessive, our local banks and government policies are known to use this starategy to discourage people from investing in cryptocurrencies in general. In Nigeria, I've received several emails from my bank stating that cryptocurrency is not a legal tender and that my bank account could be frozen if I'm found trading in cryptocurrencies. This kind of messages often make people desist from purchasing cryptocurrencies and makes them view it as an offence punishable by law.
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The truth is that almost everyone wants to dump as soon as possible to earn some fast bucks. Every category of people who have the tokens have the degree of effect they could have on the token price. First and foremost, all the bounty hunters combined most often don't have more than 2% of the total tokens generated, this directly means they have the least effect. In comes those who participated in the private sales and earned as much as 50% bonus, it is clear that they have a greater effect on price.
In comes the project team and founders who hold the bulk of generated tokens, they definitely want to cash out fiat. This leads to extremely large quantities being dumped. I am of the opinion that the team members cause most price dump.
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