I bought altcoins a while back. Example coins such as waves and powerledger. I also have bitcoin cash from the fork etc.
I bought altcoins back then thinking hey if btc goes up, altcoins will go up more. Of all the altcoins i ever bought, not one altcoin I have is higher than the current price i bought it at. Every coin i bought whether it was the huge bull run or before it, such as waves, I'm down money. Well technically not down as most of these coins, i just hold. I did sell some though. The only coin i did buy that is up now is litecoin... but i have none of that now because i sold those a while back. That's right the one altcoin i sold would be in profit now.
Also if you look at the prices with bitcoin, its like many of the altcoins i hold, they are not even going up compared to bitcoin at all. They are either same price or dropping. Does anyone here think its best to sell all your altcoins for btc? I heard tons of things about waves. Yet nothing happening to the price except going down.
Also when i say altcoins, i know it means every other coin but bitcoin. But i mean specifically like those altcoins that are not in the top 20. I mean when you look at ETH, bitcoin cash, litecoin, i think these are legit as prices correlate to btc price. But if you look at those altcoins especially that is not in top 50 for example, many prices have dropped. I bought coins where price is still down 90% or so.
Now if you say yes, what about bitcoin cash? Or say bitcoin sv or bitcoin gold?
Because the more i think about it, if cryptocurrency goes up very high, well it seems like there's only a few coins only that could do that? Thus bitcoin, litecoin, eth, bitcoin cash, dash, monero or say bitcoin sv? I heard ripple is centralized so can't imagine it being the standard. I mean if there were only 3 coins left... what would that list have to be? I would figure its bitcoin, bitcoin cash and litecoin. If i had to include a few more, probably ETH and Dash.
I back then also wanted to get coins like funfair, edgeless and a few other altcoins. But now when i look at it, isn't it basically throwing money away? I think if i were to buy more crypto now, the only coin i would buy is bitcoin, litecoin or bitcoin cash. Maybe dash and monero. .
Thoughts on all of this?
it looks like the strategy you are using is not going well. try to learn more about these coins and how the prospects for the future. yeah if you want to invest it on altcoin because if btc goes UP altcoin sometime goes down, so spread the money you invest in bitcoin and altcoin maybe the comparison can be 50% bitcoin and 50% altcoin.
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