Hodl strategy doesn't always work with every coin. We should only hold good coins that are worth holding like BTC, ETH. Holding shitcoins that are worthless will lead us to heavy losses.
I agree with your opinion, not all coins are qualified for long term holding and there are only few of them that will surely you good return after holding it. Many low quality coins will become zero value in the future abd they are probably candidates for delisting from crypto exchanges. Before investing, it is proper to make a research first on a coin you are planning to buy. Hodl is good for any coin that has the potential to go up or rise up beyond what is expected. |
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Cryptocurrency trading is known to be risky so you should only a fund that you can afford to lose and should not come from any sources like your saving account, salary or money from other people. It is better if you have extra money for this purpose to avoid hurting your finance in the future. If you are newbie, prepare yourself first by learning how trade.
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The price of bitcoin at this time is slightly above $4000 for some exchanges and still good buy for those who are looking for affordble coins. Bitcoin has the potential to go up this year compared to last year where bearish market prevailed for almost a year sending many aktcoins into red or negative growth. But everyone must always aware that anytime prices in the market can go down sharply and constant monitoring can alert you from any price changes.
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You can explain anytime to any individual that are willing to listen on the use of bitcoin. If they are interested to know more about bitcoin then I'm also willing to explain to them but I'm not going to persuade them to invest in any cryptocurrency unless they are already know how risky is the cryptocurrency investment. Inviting or urging someone to invest in cryptocurrency might give you a problem in the future because they will surely blame you when their investment suffer a loss because of price declines.
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I think it also depend on existing bank laws that they are enforcing which bans any kinds of currency that are not in accordance with that laws. Some countries with restrictive regimes might not also allow this kind of decentralized currency because they fully control their economy and their currency. These countries will take time to understand cryptocurrency and blockchain but will eventually allows if the next ruler have full knowledge on these virtual currencies.
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These sellers might have lost their faith in their coins and they are also afraid of another sharp price declines this year or they just badly need some money. Many investors are still positive about the growth of cryptocurrencies this year but there are also skeptics and they believe that declines will continue. I believe that it is a good time to buy coin while they are still affordable and time to hold more if you have coins instead of selling them this early.
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Many market predictions last year are failed to come true like the anticipated bullrun last december so no one can really predict what will happen in the future. It better to study some possible factors that may trigger a price rally like positive event or news relating to cryptocurrencies and be always updated on market. The high volatility of the cryptocurrencies is some of the reasons why they are unpredictable so you have to study their behavior and pattern instead.
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that stage might happen. with the option that each country has its own crypto currency which of course prices do not fluctuate and can be used as daily transactions by the people of that country
If government create their own cryptocurrency, I think it will be a centralized one so they can easily manipulate its currency in accordance to their monitary or economic policies. Some of these countries might already planning to create their virtual currency but it might take time for their coin to become profitable like the decentralized cryptocurrency. |
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Prices of many cryptocurrencies are now lower than last year and making it attractive to many investors that been seeking affoedable coins to buy. If the investors' confidence for the cryptocurrencies this year will go high, the market will become bullish because a lot of money will enter again. The price of the leading cryptocurrency is up by $4k at this moment and I hope that this year will positive than last year.
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There are many profitable coins in the market today and most of them are in the top 20 of the coinmarketcap. But if you want to select the right coin then make your own research first bfore you buy. If I have that money, I'm going to invest in 3 to 4 coins and choose the likes the ethereum, xlm, ada and xrp. I'll also consider some low capital but quality coins with upcoming events because they have the potential to go up.
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Not only sometimes but most of the predictions are false and only few of them came true. The unpredictable nature of cryptocurrency make it hard to predict even by a crypto expert and many investors are often dismayed by their trade result after they pinned their hope in the prediction of some experts. Speculation are always part of the trading and its been use to find a possible price of the coin within an hour or day and it is different from predicting the price of the coin in the next several weeks.
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I think it depend on a type of regulation a particular country might want to impose. Countries with strict laws are usually the one that imposes strict regulations that may eventually affect or hurt the cryptocurrency market in that place. Other countries has crypto friendly regulation with an aim to protect its people from scams and other illegal activities. Regulation is seem to be inevitable because a group of wealthy countries have been planning to impose it in the near future.
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If you used the bitcoin as long term investment and waiting for another bullrun to come then it is better not to trade your bitcoin to buy altcoins. But if you are already a professional trader and want to earn money in trading then there is no problem in trading bitcoin for another coin. Many altcoins are also going up and some of them are also good for long term investment.
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The prices of the newly issued token goes down when they are initially listed in the exchanges because of profit- taking by the coinholders. It is better to find a new coin with big potential to go up in the future because even they dumped it, it will surely go up again. Compared to bull market, prices of the newly issued cryptocurrency or token during bear market will naturally drop because may investors want to take profits while it is possible. So buying a coin after an ICO is a good idea if you are looking for affordable prices.
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I still believe in ICOs but there is a need to make a full research before investing on them because numerous scam ICOs in the internet nowadays. It is really hard to find a good or legitimate ICOs that gives you substantial profits these days because of the recent bear market. If the market situation will improve this year and the price of the cryptocurrencies go high then it is good to invest in an ICO again.
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I think bitcoin doesn't need a miracle because it can always recover by itself. The price decline of the cryptocurrency is still normal and part of their price cycle and volatility. Bitcoin have been surrounded by different kinds of investors, traders and users and some of them are trying to manipulate price to their benefits especially the big ones or whales. If these manipulators stopped using their influences in manipulating prices, then I will call it miracle.
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Aside from buying the dip, I also study the price history, volume and behavior of every coin I'm planning to buy in the future. The price of the cryptocurrency fluctuates rapidly and reacts readily when there is a development or event related to the crypto market. Buying the dip can only help you in buying a coin in affordable price but it does not necessarily give you sure profits in the future unless you already studied the coin you bought.
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Ethereum is already gained back its former ranking again and it might be starting its climb to another growth this year. Its upcoming fork this month might be one of the reasons why its price is now rising and I hope the second rank cryptocurrencywill continue to recover after this fork. Ethereum will eventually updated to version 2.0 next year and this will surely boost the price of the coin.
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I also agree that it is not yet the best time to sell any coin that you hold because of the low prices. But these coins that are currently in low prices are now more attractive to the investors who have been looking for affordable but potential coins. Another good investment strategy after hodl is to diversify your holdings by buying several different coins with potential to grow for both short and long term.
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