Investing for the long term in an altcoin is good idea?

[#bromocorah]

Based on the understanding and knowledge of following up with the cryptocurrency for the past 6 month, my inference is that the cryptocurrency is highlt volatile.

Is it a good approach to stay invested for long term in the altcoin space?

Well, maybe you have done a study on one of the golden periods of the cryptocurrency cycle.
But it doesn't matter because as you conclude that crypto is very volatile.
And on the right coin, long term is the easiest strategy to get big profits, but it will happen faster only if you also go at the right time.

[redcj7]

Based on the understanding and knowledge of following up with the cryptocurrency for the past 6 month, my inference is that the cryptocurrency is highlt volatile.

Is it a good approach to stay invested for long term in the altcoin space?

You may be right from your point of view, but perhaps you should complete your study six months later, as large increases will be corrected quickly too.
But for a longer period, I think history has recorded it, that a small part of altcoin will be a giant.

[msbtrooper]

A lot of conditions need to be considered here so that someone doesnt end up loosing. Factors to be considered:

1) The project that the altcoin goes into should be considered. If the project is not a solid one with clear-cut direction, it is better for you to sell it off.

2) The team behind the project. If the team is not so dedicated towards the project, then it will do you a favour to sell off such coin

[dutechman]

Yes, it's a very good idea depending on the type of altcoin you are holding. The actual fact is that, there are a lot of altcoins out there that they are worthless investing in them for a long time, when you get them you just dump them because their future is not promising. But when have a luck of good altcoin like ETH, XRP, NEO... then you are very much good to trade with them for a very long time.

[xxxgr]

I believe that if you invest in alt coins you can earn much profit but there are much risk. Because there are so many alt coin and i think %50 of them are scam.

[SuiMikira]

Altcoins long term investment has never been a bad idea. EOS and ETH is two typical examples. From mid 2017 till now ETH and EOS has increase price more than 500%, if someone buy 1 EOS in November 2017 at $1, now at this awful deep time, 1 EOS is ~$7, he has 700% profits, and if he sold EOS at April, the price of 1 EOS was $21, equal 2,100% profit.

[Luntik45]

of course this is a good idea , I also invest in the long term . short-term investments do not bring enough profit

[KolayZdun]

Some altcoins have even more potential for growth than bitcoin, so their purchase is preferred. Now some people think that only bitcoin will survive, but eventually the market will recover and altcoins will soar in price.

[BountyMorglen]

Certainly. Today, a hundred dollars can buy so much currency that you can go crazy. And if you choose a currency, after studying it, you can in the future do not regret that you did not buy bitcoins in 2009.

[jaggijagjit]

Investing for the long term in altcoins are always good idea because this crypto market very volatile and long term investor always make more money as compared to short term investment.I invest for long term for maximum benefit.

[Renu kapoor]

Investing in altcoin for long term is not a bad idea but uncertainty of cryptocurrency  that no body is aware about its future,so long term investment can  become a problem which is not good for the investor, it may convert in short term investment.

[Hundian]

I think investing long-term on altcoins is a good thing if you choose potentially altcoins. You can see the 10th ranked altcoins in coinmarketcap I think

[ChaoChibai]

Of course altcoins is stil good idea for long term investment, but if you buy alts in early january im so sad for you. I always buy alts before lunar new year, it's very profitable if you buy before that.

[Tilisil]

I like your choice, I think it's a good decision . I do the same, I prefer to invest in the long-term

[sleepless]

I prefer to be fixed in this market in bitcoin or in the etherium. As soon as the market goes up and the altcoins begin to grow, I will buy them.

[hieuho381]

I support you, long term investment in altcoin is a good idea. I believe that the end of this year altcoin prices will increase. Current market has fallen very deep, the price of the altcoin is also very low, this is the time for us to buy altcoin. I recommend buying and holding 2-3 altcoin in the top 50 coinmarketcap. Some altcoin that I will buy are Ethereum, EOS, Litecoin and IOTA.

[Odebowa]

Its a good idea but not in all project but some project that have the tendency of rising in d nearest future can be hold for earn better profit, so investing for long term in altcoin is a good idea but not in all project, in some project they are good

[gathingbrus]

Nice, but for some kind of altcoin only. Especially the price movement was slow. If the movement of the price that quickly, then we should use for short term investment.

[loofers]

the best way to get a good return in investment is to hold altcoin for a long term,though the crypto market is volatile but if you a holding a potential coin for a long term it is more safer.

[WuGong]

I don't think this would be a good idea. This is to see what you buy the altcoin, the future altcoin will disappear a lot, so long-term investment is not recommended.