DONT MARRY YOUR ALTCOIN BAGS

[suzanne5223]

I honestly dont see something bad in holding unto ones altcoin since it a utilized coin with huge support from the community and miners despite the fact that Bitcoin is the king of all crypto. However, it always good to diversify ones holding in other not to miss out a vital opportunities.
I admired the topic used by the OP this thread 😬

[Numist1k]

Taking profit is what everyone should be doing. But the issue is that most people don't know where to take profit that's why the hold for long untill they begin to lose.

I think you are on point here. This was indeed my issue years back and it took me discipline to learn my strategy to take profits. Now I take a small portion of profits every time it hits a new daily high and buy back on a dip in a specific period.

Satisfaction is what will make you take profit , wait to buy back lower and ride it up and keep doing it over and over.

However, I do not rely on satisfaction as this can also lead on the opposite direction when the price is mooning at high volatility and volume. I simply take the emotion out of the equation and rely on the strategy rules I set upon myself.

[enhu]

I think whales are right now accumulating altcoins though. This is why you can notice more altcoins are spiking up to 33% while BTC stays at 9500 for a long time already. I agree not marrying altcoins but you probably mean the ones that are just shitcoins. Altcoins like ETH, NEO, Monero, Stratis and ADA are worth marrying, I marry a lot of them so I can have sex all the time. A single spike worth a cent is more than a hundred USD of profit if you have thousands of Cardano.

[Lagduf]

Marrying altcoins is something that newbies could do until they later realize that it's not always about holding altcoins, not all altcoins are worth holding, infact many are good for short term only, I trust Bitcoin and Ethereum only

Bitcoin and ethereum mostly used for long term investment rather than short term. The majority of people will be taking altcoins as their short term investment but newbies didn't know about this and they were still holding their coins even that was getting a huge increase in the market. Altcoins other than top coins must be used for short term only.

[so98nn]

This is but obvious since market capitalisation of bitcoin is way more than few of the alts put together. At such high cap things are different and unreal. I mean first they get security of their value and keep themselves at steady state of USD value. The max supply of the coin also plays an important role in this regard, where bitcoin is limited and ETH is unlimited. When market moves up and down or go nuts then feasibility of price depends on demand and supply equation. That's why alts can be too risky to hold for very long time. ETH is okay but others I don't know, very risky.

[Dhoe]

OP just hit the spot. Never be a fanboy of any altcoin project.  If you see a profit, cash it out.  That is the main purpose (profit) why we invest in altcoin right?  Why baghold and end up being a whale of a worthless altcoin when you can just sell them with profit and move on to another altcoin. 

Most people who hold because they hope the market situation can return to 2017, I personally keep some tokens that I got 2 years ago. Indeed sometimes the people are never satisfied with what they get, so that when they already get profit but they want even more, That's a natural thing as a human. But we must be patient and not be too greedy.

[MrMojoRising26]

OP just hit the spot. Never be a fanboy of any altcoin project.  If you see a profit, cash it out.  That is the main purpose (profit) why we invest in altcoin right?  Why baghold and end up being a whale of a worthless altcoin when you can just sell them with profit and move on to another altcoin. 

agreed short term gains take profit! if its a 2017 type of run after bitcoin goes parabolic then hold for your 3-10x profits but don't get too greedy. I try to take my 3-5x and then buy something that hasn't ran yet instead of chasing something that has already pumped. Treat alts like a summer fling don't marry them even the best projects go through market cycles no alt is immune. If you don't believe me look at the charts every alt was down like 80-99 percent this bear market some even making new all time lows. Some will say now is the time to buy since they are so low, but in crypto nobody knows how low things will go so your taking a major risk. At least wait for some higher highs and higher lows before buying the alt you are interested in. Thanks for all the responses everyone

[NavI_027]

I remember of a friend who gave up his studies and went all-in on AMP coin (Synereo - if you remember the project). By saying all-in, I don't mean that he invested any money on it but all his time. He worked as a programmer for them and used to earn $300 worth of AMP each month. He did this for at least 3 years, the project did well and he almost became a double millionaire when the spike occurred in markets during 2017 when BTC was $14k and reached $20k. But he kept the coins as it is, didn't sell them when I even advised him to do so and later when the crash happened, the project itself came to an end putting all his work and savings under the grave. So, you need to know when to sell as that's too an important part of trading.

What a misery! If I'm on his position, that happening would definitely haunt my dreams every night for the rest of my life . You know, becoming a millionaire is everyone's dream and it suddenly vanished just because of greed — becoming greedy to get more. I feel pity for him. He stopped his studies and fortunately get a good exchange, however, the worth of it fall so hard. It was just like in our saying, "Pera na, naging bato pa". *sigh What a waste of time, it makes me feel cringy.

[shoreno]

I remember of a friend who gave up his studies and went all-in on AMP coin (Synereo - if you remember the project). By saying all-in, I don't mean that he invested any money on it but all his time. He worked as a programmer for them and used to earn $300 worth of AMP each month. He did this for at least 3 years, the project did well and he almost became a double millionaire when the spike occurred in markets during 2017 when BTC was $14k and reached $20k. But he kept the coins as it is, didn't sell them when I even advised him to do so and later when the crash happened, the project itself came to an end putting all his work and savings under the grave. So, you need to know when to sell as that's too an important part of trading.

What a misery! If I'm on his position, that happening would definitely haunt my dreams every night for the rest of my life . You know, becoming a millionaire is everyone's dream and it suddenly vanished just because of greed — becoming greedy to get more. I feel pity for him. He stopped his studies and fortunately get a good exchange, however, the worth of it fall so hard. It was just like in our saying, "Pera na, naging bato pa". *sigh What a waste of time, it makes me feel cringy.

guys like that are already wealthy because they arent afraid to push more   . its like they were saying go big or  go home ,  he did go big but eventually he crashed so he go home empty  but what i only dont like about his attitude is that he drop his studies   .  i knew there are stories that also drop thier studies but luckily those guys got lucky that their investment are still growing until now .  for us that arent really wealthy , this serves another lesson that we shouldnt marry the coins that we have not only applies to alts  .

[btc78]

altcoins are great for flipping for more btc but dont every marry a coin. When btc goes on a run past all time highs you dont want to be bagholding ALTS. You will watch them get crushed. I personally was bagholding alts from 4k-20K and they got demolished I even had friends saying man you must be doing well with those bitcoins you have In the end alts went nuts and I did well but If I would have waited till BTC topped out I would have made more. So moral of the story there is dont marry a coin/project they and watch your btc shrink get in and get out after you make decent profits. Sure sometimes you can buy an alt an maybe 10x-100x on it bagholding, but there is 1000s of coins out there that wont make those type of gains. Anyway do whats best for you but dont be that guy married to a bag watching btc head to 50-100k or whatever the top might be

I have learn enough and now what i only having is Bitcoin and i don't care even how much it will loss because i only wait for the price expected in selling.

I use to hold many altcoins before for diversification but i realized that Altcoins nowadays is not good for Hoding.

So even i try to hold them out like ethereum and EOS at least i am looking for opportunity if ever the peice goes up by 5-10 % i will sell them and wait for the fall again.

[michellee]

Most people who hold because they hope the market situation can return to 2017, I personally keep some tokens that I got 2 years ago. Indeed sometimes the people are never satisfied with what they get, so that when they already get profit but they want even more, That's a natural thing as a human. But we must be patient and not be too greedy.

I am sure the market situation can return to 2017 or even more because bitcoin has a chance to lift the price to the high price, maybe bitcoin price will be more than $20k. That is why some people still hold their old coins or tokens because they want to wait for the time to see the bull run coming, and if the next bull run is coming, their coins or tokens will have a chance to increase higher.

[bearexin]

Do you people sell your BTC completely and then put the money in altcoins? Cause I don't get it sometimes. You should be doing some kind of diversification here, like dividing the money and investing where you think they will perform better. Depending on the money I have, usually 80% goes into Bitcoin and 20% goes into big altcoins that I trust (I'm sorry to bee projects, I don't have their time because I have a lot of things I am busy with, so I go with the top cryptocurrencies for now).

So, any money I invest in BTC stays just there and when I sell it, the money and profit goes to the bank till I'm ready to buy again. If we are ready to risk on altcoins then we need to be ready to face whatever outcome of it. Because unlike bitcoin investments, altcoins are not coming up with minimum returns for our capital.

[MrMojoRising26]

Do you people sell your BTC completely and then put the money in altcoins? Cause I don't get it sometimes. You should be doing some kind of diversification here, like dividing the money and investing where you think they will perform better. Depending on the money I have, usually 80% goes into Bitcoin and 20% goes into big altcoins that I trust (I'm sorry to bee projects, I don't have their time because I have a lot of things I am busy with, so I go with the top cryptocurrencies for now).

So, any money I invest in BTC stays just there and when I sell it, the money and profit goes to the bank till I'm ready to buy again. If we are ready to risk on altcoins then we need to be ready to face whatever outcome of it. Because unlike bitcoin investments, altcoins are not coming up with minimum returns for our capital.

Great advice at least hold 50-80 percent in bitcoin diversify never go all in on alts

[Balladtony77]

Altcoins are full of disappointments believe me no one will want to hold weak altcoins in their wallets for a long time, many have learned their lessons that Bitcoin is the most strongest coin in crypto space, only very few altcoins are that good like Bitcoin

[Mpamaegbu]

The post 2017 era has taught a lot of people a great lesson in crypto. Many people got misguided and erroneously assumed that altcoins would perform like Bitcoin if they held unto them and never wanted to be a story like the 10,000btc Pizza guy. How wrong they were. Most of the altcoins got wiped off the radar and a lot more scammed the hell out of the people. When you take a closer look you will realize that there's a reason Bitcoin remains Bitcoin while the rest of the cryptos are referred to as altcoins.

[Leo]

A great lesson was learned by me during 2017/2018, bag holding of lots of coin that I think are great for long term such as Npxs, and others coins,I can say that I over married those coins now the only coin I can think of holding for long term is either bitcoin or ethereum, other coins are just for either mid term hold or flipping for short term within days

[aioc]

altcoins are great for flipping for more btc but dont every marry a coin. When btc goes on a run past all time highs you dont want to be bagholding ALTS. You will watch them get crushed. I personally was bagholding alts from 4k-20K and they got demolished I even had friends saying man you must be doing well with those bitcoins you have In the end alts went nuts and I did well but If I would have waited till BTC topped out I would have made more. So moral of the story there is dont marry a coin/project they and watch your btc shrink get in and get out after you make decent profits. Sure sometimes you can buy an alt an maybe 10x-100x on it bagholding, but there is 1000s of coins out there that wont make those type of gains. Anyway do whats best for you but dont be that guy married to a bag watching btc head to 50-100k or whatever the top might be

Only newbies and uneducated people do this things, if you are going to HODL be sure that  you are holding coins that has a proven track record, we can check all the history of the coins since they started and we can do comparison it's open secret for all traders and investors, if you happen to HODL a coin and end up with no value then the blame is on you, investing in altcoins is 27/7 monitoring.

[gaston castano]

some altcoins are good, but most of them are bad and will disappear.
so you really have to choose the right.
Most people are stuck in a dilemma when all alt rises in 2017 and always hope that moment happens in the near future.

[Lantind]

A great lesson was learned by me during 2017/2018, bag holding of lots of coin that I think are great for long term such as Npxs, and others coins,I can say that I over married those coins now the only coin I can think of holding for long term is either bitcoin or ethereum, other coins are just for either mid term hold or flipping for short term within days

Very extraordinary, you belong to a very great student, but I am a little surprised why at the time of 2017/2018 you do not directly hold Bitcoin and Ethereum, even though at that time you already hold both, then at this time there are also many advantages that you will get, because those who hold tokens or coins will always monitor the price and the development of the coins and tokens that we hold.

[pawanjain]

I remember of a friend who gave up his studies and went all-in on AMP coin (Synereo - if you remember the project). By saying all-in, I don't mean that he invested any money on it but all his time. He worked as a programmer for them and used to earn $300 worth of AMP each month. He did this for at least 3 years, the project did well and he almost became a double millionaire when the spike occurred in markets during 2017 when BTC was $14k and reached $20k. But he kept the coins as it is, didn't sell them when I even advised him to do so and later when the crash happened, the project itself came to an end putting all his work and savings under the grave. So, you need to know when to sell as that's too an important part of trading.

Oh my God. That gave me goosebumps. You could only imagine how hard it would have been for your friend to lose all his coins.
He lost all the time and effort. I hope he would have at least sold some of the coins.

I had a friend who did some development work for a project and was offered $10k worth of tokens.
But I advised him to take the payment in bitcoin or ethereum and then the project team decided to pay him in bitcoin but only $300.
He took the $300 in bitcoin and is now happy because the project didn't raise enough funds and hence was not launched at all.

Even I had myself held on to some altcoins for 3 years now but sold it quite recently at a decent price.
The altcoin was at $3 back in 2017 when altcoins were at peak but then the crash occured and drained all the profits.
I am not sad though since I sold it at $0.5. Atleast I got a decent amount of ether for it which I am quite sure will cross the ATH.
By this way I hope I would cover the $3 price in an indirect way and get back the profits.