I would class myself as a long term holder, I tried trading but didnt make
noticable gains. I have got into some alt coins last year which really have
yet to be fully adopted and utilised.
i disagree with everything you just said here after this part and i do believe that long term holding any altcoin is a huge mistake even if you look at their charts and see profit for last year. there is not much future for most coins out there, they won't survive in long term specially those coins that exist purely based on hype and pumps.
here comes the big BUT.... but it is important to do whatever you think is right for YOU. if you think holding is best and gives you the better results then make sure to stick to it. just make sure to follow the first rule: never invest more than you can afford to lose.
I agree that many projects will dissapear or be replaced by another faster moving project.
But hopefully this will show up on a radar and we would be able to react i.e SELL I have got into some alt coins last year which really have
yet to be fully adopted and utilised.
your whole strategy relies in a big IF.
IF the coin is adopted...
IF the coin is utilized....
and history is not agreeing with you either.
As has been mentioned in many other threads, it is essentially a gamble.I would class myself as a long term holder, I tried trading but didnt make
noticable gains. I have got into some alt coins last year which really have
yet to be fully adopted and utilised.
My theory is that its really going to take about 12 months or at least 12
months for a project to materialise and probably another 12 for further
developments.
I am a long term holder if litecoin, and for years some people have held
this coin until last year it started its healthy price rise and popularity.
Siacoin is another which has undergone a lot of development and its
one I hold long term.
So I invite all long term holders to discuss their thinking on the topic
at this time of rising price activity after some very low valued markets.
Your approach to investing in all cryptos imho is probably the safest and most profitable - over the long term.
By holding for the long term you're cancelling out a lot of the short term fluctuations in price that may tempt you into selling early, and as you said, most projects will take at least a few months if not years to mature and finally realize its full potential. And that's not even looking at the fact that bull markets will usually take time to actually start and realize.
That's why I tell people that if they want to invest in crypto at all, make sure that they are prepared to hold for as long as it takes for the next bull market to swing by. If you're impatient, then you probably are better off without investing in crypto. Crypto isn't a tool to make your rich overnight.
in it. I thoink it suits people with a lot of time on their hands.I would class myself as a long term holder, I tried trading but didnt make
noticable gains. I have got into some alt coins last year which really have
yet to be fully adopted and utilised.
My theory is that its really going to take about 12 months or at least 12
months for a project to materialise and probably another 12 for further
developments.
I am a long term holder if litecoin, and for years some people have held
this coin until last year it started its healthy price rise and popularity.
Siacoin is another which has undergone a lot of development and its
one I hold long term.
So I invite all long term holders to discuss their thinking on the topic
at this time of rising price activity after some very low valued markets.
You have a good point there.
Day trading doesn't give you noticeable gains. Well, one trade might do, but the next will reverse it and you'll end up with less than you originally had. People believe that technical analysis helps them escape this, but believe me, it doesn't.
Hodling, on the other hand, is a great way to "invest" your money on something that you believe in, and it's much more probable to make you successful at the end.
The hard part? You have to be patient. Many people are not.
