n00b looking for a little bit of strategy advice.
- the altcoin prices seem to fluctuate wildly. what is a fair percentage increase to aim for before cashing out? 20%? 50%?
- is it realistic to invest in a coin, see a swing +20%, and cash out in the same day? or are these patterns only because of the wild increase in bitcoin, allowing more investors to pump more money into the altcoin market currently?
- before this current boom, how stable were altcoins generally?
- is anything outside of the "Top 10" worthwhile looking at seriously?
- are you better off trying to read/predict mathematical trends and patterns in the graphs, or choosing where to invest via their websites/whitepapers?
- are there many altcoins involved with major "mainstream" companies - ie. banking or online shopping businesses with a track record of success?
- what is a "safe" market cap to look for? have there been many examples of large market cap companies vanishing?
hopefully this isn't too many questions. trying to get my head around my strategy before i start throwing money around.
appreciate any advice.
The altcoin markets are driven by whales, same as the one who put hundreds of Bitcoin blocks and waiting for us to commit mistakes. Sometimes it is better to do nothing rather than exposing your coins. Then if you are really in to trading you should atlleast set target and stops. Set a clear target where you can earn bits and don't be greedy, more importantly if it's about about to stop then don't be afraid to lose, it's wise to stop rather than losing it all.
Altcoins has inverse relationships with Bitcoin. Most altcoins are traded according to bitcoin's value, if BTC rises then altcoins loses its bitcoin value so it's better to stop trading or do nothing at all.
The coins that have a higher daily trading volume and which have a widespread community behind them, with continuous development when choosing at top 10 coins. When a coin development will be published along with the media, then stay tuned as it will pump and make a good profit. there are lots of strategies and I hope this might help you.