To hodl is not to neglect

[Sharon121212]

For the benefit of newbies that are not yet oriented with some cryptocurrency terms hodl means hold. Make reference to this for more terms https://bitcointalk.org/index.php?topic=126798.0

Back to the topic..
In cryptocurrency it's quite often you hear people advising each other to hold coins in there possession and that's because the coins has good potentials to do well with time. Well this is not completely a bad advice but rather an incomplete advice The cryptocurrency market is volatile and prone to changes at anytime.
 Why is it necessary to follow up your holding a coin with observing the market
*Like I said the market is volatile and prone to changes so when holding a coin with out observing the market you a putting your self in a blind spot to the market
*to determine your next move most investors has kept dead Shit coins that are unrecoverable and in the same vain has missed potential coins that are doing well. Observing the market helps you get a good position to decide your market moves.
*maximising profits and minimizing loss. Profit and loss are the two possible outcome for an investor and if calculation are correct with a bit of good luck an investor can maximize profit and minimize loss but if the calculations are incorrect the reverse is the case and a good knowledge and observation helps in making the right calculations.

The necessity of observing the market can not be overemphasized. Holding a coin is good but holding a coin without neglecting it is imperative

[khaled0111]

It depends on the goals you set when you decided to invest in a particular coin.
Let's say I invested 1k$ in X coin and I strongly believe that it will be worth 10k$ in 2 years or so, it will be hard to keep track of market movements for two years, and it will become impossible when you invest in many coins. However, there are good price allert apps/services that can help you do that.

[1miau]

*to determine your next move most investors has kept dead Shit coins that are unrecoverable and in the same vain has missed potential coins that are doing well. Observing the market helps you get a good position to decide your market moves.

That's the most important point in my opinion. Some people have the assumption that all coins will go up in a new bull market, no matter if the project has a working product or not. By having a look at coinmarketcap's historical screenshots in 2014 it'll show up that holding some of the coins wasn't a good decision because they become almost worthless:


https://coinmarketcap.com/historical/20140126/

The difference between holding Bitcoin and holding a shitcoin is that if holding Bitcoin won't be a good decision, holding a shitcoin won't be a good decision either but if holding Bitcoin is a good decision that won't mean that the shitcoin will also increase in price. If Bitcoin isn't worth holding all other coins are likely to be also not worth holding. 

My advice: don't buy / hold coins or tokens where it's unknown if they'll survive (inactive, questionable progress, no use-case) and consider if you can exchange them to better ones like BTC.

[leowonderful]

Sometimes as an investor it's best to simply cut losses past a certain point and just accept that you've lost; cryptocurrency trading and holding crypto is extremely risky, especially for newer projects and projects that don't have working products or simply just don't work well, and looking at news related to whatever coins you're holding is important as well in case a massive event comes up that might prompt you to sell your coins off. I tend to hold larger coins for the long term like Ethereum or Litecoin and not smaller coins as many of them tend to fail over a longer period of time- sure, the potential reward is great, but the risk can also be big with smaller coins.

[Lakai01]

My advice: don't buy / hold coins or tokens where it's unknown if they'll survive (inactive, questionable progress, no use-case) and consider if you can exchange them to better ones like BTC.

First of all thank you very much for the picture, an eye opener for those who still think that any coin will moon once the bulls are back.

I wanted to add an additional advice. Since almost every coin follows BTCs price movement but usually dumps harder than bitcoin simply exchange half the tokens you got via airdrops/bounties etc immediatly to BTC once they are in your wallet. You still have half the stack of a coin if it moons (though very unlikely) but got also BTC, which is not prone to stopped projects, exit scams and so on.

[jademaxsuy]

*to determine your next move most investors has kept dead Shit coins that are unrecoverable and in the same vain has missed potential coins that are doing well. Observing the market helps you get a good position to decide your market moves.

That's the most important point in my opinion. Some people have the assumption that all coins will go up in a new bull market, no matter if the project has a working product or not. By having a look at coinmarketcap's historical screenshots in 2014 it'll show up that holding some of the coins wasn't a good decision because they become almost worthless:


https://coinmarketcap.com/historical/20140126/

The difference between holding Bitcoin and holding a shitcoin is that if holding Bitcoin won't be a good decision, holding a shitcoin won't be a good decision either but if holding Bitcoin is a good decision that won't mean that the shitcoin will also increase in price. If Bitcoin isn't worth holding all other coins are likely to be also not worth holding. 

My advice: don't buy / hold coins or tokens where it's unknown if they'll survive (inactive, questionable progress, no use-case) and consider if you can exchange them to better ones like BTC.

This is.5 years old already.and one can able.to identify the huge difference in its market price. Yes, it may be huge but think.again that the value of money nowadays were gettting smaller and smaller in value. However the screenshot shows good and strong altcoin.

But, for those dead project then probbly selling those shitcoins are advisable. How one on earth be able to hold sell with bitcoins.

[Dudeperfect]

I agree that holding is important from an investor's point of view but as far as the growth of the entire ecosystem is concerned, one should also spend some amount of holding to ensure the momentum of coins within the ecosystem. I have always believed that movement is a contribution to the growth and hence, I try to spend my 50% of the funds directly because Bitcoin is a payment system in its core and that how we should treat it in the first place itself. On the other hand, an investor can keep his holding active throughout his holding period.

[Lucius]

We can learn from past, and it show to us that some coins simply do not have the future. Most of altcoins are have only one purpose, to make rich people who create them, and after that they are going down with occasional exceptions of pump / dump scheme. If we look at thousands of created coins, just few of them stay in top 50 - and in posted screenshots we see that only XRP, Litecoin and Doge are still in top 30 coins. Some other coins like PPC are sink very deep, and will probably continue to sink even more.

In my opinion most of altcoins are only suitable for trading, or for short-term holding. Next to bitcoin who will almost certainly survive the next ten years, just few today active coins will stay at the top. So if you are long-term holder it is important to pick good coins, ones that have some purpose and strong community.

[kingpin4321]

Well also don't forget that constantly checking of the market and it's prices can cause panic and also FUD so as an investor if you are getting Any coin is good to check the price but also don't check it excessively

[Ipwich]

It's necessary to be well inform on the development of the coins you are holding, for me following the market regularly is necessary.
Looking at the https://coinmarketcap.com/ is the easiest way to monitor our coins and like me I made sure I invest on coins that are in liquid exchange so I can easily tract it using the site I shared.

Also, I have some altcoins that are not already listed in the market because of the liquidity problem and I have not monitored it regularly anymore.
I only made sure I monitor the coins that I have heavily invested with.

[BrewMaster]

being a bad advice doesn't depend on volatility of the market, it mostly depends on the coin they are suggesting  others to (bag) hold. for example over the past year there has been a trend that everyone was encouraging newbies to bag hold the ICO tokens they had bought and kept promising them eventual big returns. obviously 80% of them are already at zero as these tokens keep dying on them.

when you are telling someone to hold you are suggesting them to do a long term investment. and to do that successfully you first need to choose wisely. choosing any altcoin will never end well for anyone.