Next wave to ride

[Swjsh]

Hello all,

been on the web for weeks now reading and reading about alt coins and they really peak my interest. I have invested in 1 ETH and 135 Ripple so far (constructive criticism welcome)
I am reading about ICO's now because of the price swing I saw today with Nimiq(NET) They started today under a dollar and are sitting at $382 as i type this. The new music ICO (OPUS) seems like a great concept and I was thinking about investing in that in hopes it would too have a price increase similar to Nimiq.

Looking for any thoughts/comments, I am new and would appreciate any feedback.

Thanks!

[CryptoPro3]

Don't break the bank with those 135 XRPs!

[styca]

The first thing I would say is look at Nimiq now, and see how the price dropped almost immediately back to a normal $1 level. If you'd bought at even $5, you'd have lost 80% of your stake. I would avoid coins that have that sort of trading pattern. It's pretty much impossible for an ordinary person to catch and sell at the spike. So I would avoid smaller coins altogether, at least at first. Similarly I would avoid ICOs too, as they have been very over-hyped recently and there is often a massive dump when they first hit the exchanges. But on the other hand, sentiment towards ICOs may have cooled off somewhat given the recent market dip, and if you're only investing small amounts which you can afford to lose, then by all means go for it.

As for ETH and XRP, I think they're great choices. I'm spread across about 9 coins at the moment, but ETH and XRP are my main two.

As for money to put into the market at the moment, one thing I'd look at is which coins have fallen the most - these are probably the ones that will rise quickest in the medium-term. I bought some Waves yesterday as in my opinion it's a good, strong project with great prospects, and prices have fallen from $7 all the way back to $2.

I'm not an expert, but I hope that helps a bit!

[ikezar]

I agree with what styca said.  It makes more sense for those of us that are not honed day traders to learn about a project and determine if we think it has solid fundamentals, then buy and hodl.  At worst you are supporting a project you believe in that way, but if you avoid confirmation bias (hoping the project is good you believe all the good things you learn about the project and fail to really listen to the bad things) you can make a smart investment that you can "set and forget" and get involved in the project itself.

[bobo012]

Nimiq is just a pump and dump, it has surged on little volume so that price means nothing.

[vlad06]

Don't break the bank with those 135 XRPs!

 

That killed me off.

[Swjsh]

Appreciate the words of wisdom, looking forward to more to come 

[styca]

The best advice has to be do as much research as you can, and always buy/sell using logic rather than emotion. And don't just listen to what people post on here.

Research any projects you're interested in, and then research some more, look at the white paper, the roadmap, the team involved, think about real-world use cases now and in the future, think about competitors and potential competitors, how things could succeed and how they could fail.

Also research as much as you can about how the markets work, and in particular - and I really can't stress this enough - learn as much as you can about the king: bitcoin. This monster dip across all coins has been largely because of the prospect of a bitcoin split. Bitcoin affects everything here. If you know what's happening with bitcoin, it can only help. For example take the market recovery over the last couple of days: if you don't learn about bitcoin, you'll think it's just a temporary bump before another fall - but if you do know about bitcoin, you'll know about the rapidly gathering support for bip91 and that it should mean we're now into long-term recovery territory. No guarantees of course, but the better informed you are, the better the decisions you make in general.

This was the main mistake I made when I started. I did thorough research on ETH and XRP, and I bought in. But I didn't research enough about bitcoin.