DONT MARRY YOUR ALTCOIN BAGS

[MrMojoRising26]

altcoins are great for flipping for more btc but dont ever 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 then  watch your btc shrink get in and get out after you make decent profits. Sure sometimes you can buy an alt and 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

[Stedsm]

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.

[coupable]

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.

Many similar stories happened back to 2017/2018 during the ICO boom. Almost the majority of users focused on storing new altcoins and just use bitcoin to make a cash out. Honestly, i was one of them when i participated in bounty campaigns and have a great portofolio of alts but didn't think for a moment that it's a bubble. After a short period of few months, all the alts in my portofolio dropped to zero and i didn't make any profit from what i was thinking. It was the hard lesson for me to know that Bitcoin is the safest investment and the majority of alts are bullshits that no one can rely on.

[tabas]

The hope for being rich quickly with the alts that they hold makes them persistent in holding it. I also hold bad alts before because I was still not educated and less experience so I bought it.
But, after all of these years that have passed. I don't rely on them and it's really safer to have bitcoin.

[dunfida]

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.

I do remember also when i do engage myself in bounty before that 2017 bull run and that was in SNOVIO project.I should have get $40k in worth of tokens if i do sell it in time to fiat
but my greed do tell me to hold even more longer and in result? I cashed out it when it is already on $500 mark which is really a regretful thing.All of us do have that corresponding
similar situations in our crypto career experience.You wouldnt learn and realize something if you didnt make any mistake which is really an impossible stuff.

[cabron]

BTC is the easiest to trade so its the most preferred coin by any trader not just to holders. But saying its the only right now will not make them sell the shitcoins they have.

Not working anymore when most of those guys are earning already with alts especially with ETH. They are aware of just holding BTC will make them richer but some users holding more than million coins that suddenly worth 0.10USD after bullrun made them realized its also profitable.

[Wayrey2020]

Instead of using the word Marry, i feel like do not fall in love or have any emotional attaches to projects.
As an investor, or a trader, you need to understand that your affiliation with any crypto currency project is for profit based reasons, and nothing more than that.

Do not let the potentials of the [project, cloud your judgement and make you feel in love with a token.

[MrMojoRising26]

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.

ouch so many similar stories! The hardest part is to sell when everyone is in the euphoria stage it seems like it's going to go up forever. Greed takes over I remember checking my blockfolio every 30 minutes and it just kept going up for weeks I thought I was the smartest investor ever   then the rug pull came then I though it's just a dip then eventually I cashed out with nice gains but nowhere near the top! if I would have stayed married to the alts I would be down 95% or more. When all my nocoiner friends started buying litecoin and ripple that was the sell signal

[Lizzylove1]

I hold many bags of altcoin, I take profit and never look back, I don't want what happened in 2017 to repeat itself agai. Instead of holding bitcoin in 2017, I jumped into altcoin and this destroyed my asset and plunge me into debt.

[hatshepsut93]

Bitcoin is leading the market, alts literally can't start a bull run without Bitcoin doing it first, but they can easily die on their own like it happened to thousands of coins already. As it can be seen from the 2017-present trend, alts underperform compared to BTC while having much higher risk. It's really a bad value to try to hold alts long-term now, you could try to make some short-term trades, but it's so prone to volatility and manipulation that you'll likely just lose money.

[qazgroup]

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 also learned this lesson the hard way, i entered crypto market in 2016-17 and i was doing good and i was targetting only btc and i had accumulated around 10 bitcoins when then came a ico frenzy and i got lured and started investing in every shining ico, i even invested 2 btc in a fb friends mining plan which failed and he refunded me 0.1 btc back only. While other ico investments shrank to around 50x in loss and i now have around 0.5 btc only after so many years. Now again i have decided to stay in btc and eth only and i will try to accumulate them.

[MrMojoRising26]

Bitcoin is leading the market, alts literally can't start a bull run without Bitcoin doing it first, but they can easily die on their own like it happened to thousands of coins already. As it can be seen from the 2017-present trend, alts underperform compared to BTC while having much higher risk. It's really a bad value to try to hold alts long-term now, you could try to make some short-term trades, but it's so prone to volatility and manipulation that you'll likely just lose money.

well said I agree with everything you stated! Alts are going to have their moment after btc has its run to all time highs there will be some great short term trades but in the longrun they will dump hard

[Gab20]

Most altcoins are for a limited time, in fact they are just ways of acquiring ore BTC. Which is why if you make so much money from it and you are able to liquidate it, then you have the chances of acquiring more BTC and if you lose, you lose the chances of acquiring more BTC too. Taking profit when you see has almost been the song that people sing almost every time.

[CaVO32]

Holding good altcoins is ok but I don’t want to stay on a shitcoin because I know their future and I know the risk of involving myself into any shitcoins. We have to be more wise when it comes to investing, I’m sure we all have mistakes on holding especially during the big bull run of cryptomarket so let’s learn from it and be a wise hodlers now and don’t hesitate to sell and take profit.

we all did experience at some point holding tokens or coins that turned out to be crap. we did hope that it will still go up but unfortunately, it continued to go down. most alts that have fate of going down without recovering are those that are created and launched for one major reason - to fill the devs' pockets. they come in all forms, and presented in many different ways but their end is only one - disappeared in the market in no time. so if you want to choose an alt to hold, you should put all your effort to do your own assessment and consider all factors as much as possible that will make a certain project alive in the market. because it is your money at stake and the devs don't care if you lose your investments. and in this regard, very few can survive in this market.

[kindbtc]

Everyone has different experience with different coins, we have seen some coins pumping right after listing and some coins keep drowning but as soon as they launch their product and it attracts users and activity the prices pumps madly but it may tale 2 to 3 years time. So you never know but one thing is clear if you are in a quality project and they are building something unique with good practical use cases and revenue generation model then the coin will definitely pay off sooner or later so we should keep hodling quality ones and take profit from the projects where we have less confidence.

[DoublerHunter]

^

~snip~
we all did experience at some point holding tokens or coins that turned out to be crap.

^ Definitely right, probably all bounty hunters have been experienced on this. I have a lot of dead altcoins too and some turn out to scam. I have tokens that I regret most, after listing I did not sell it because I am hoping that it will pump more but unfortunately, after a month it was quickly down the value, and until now it has remained shitcoin. Probably I was not lucky in choosing a good altcoin because we really don't know which one will be pumping up just like what happens on BSV and BCH. I don't like them before because I am thinking that they are a part of a hype group but now, they maintained on the top 10 altcoins. Nevertheless, not all become useless.

[JeffBrad12]

I hold many bags of altcoin, I take profit and never look back, I don't want what happened in 2017 to repeat itself agai. Instead of holding bitcoin in 2017, I jumped into altcoin and this destroyed my asset and plunge me into debt.

It looks like you were joining in the altcoin at the wrong moment. My friend was also doing the same like you and i just told him to never try to join in altcoin that already traded on the peak price. I guess if you were joining in altcoin at 2016 and you may have become a new millionaire too like some people in this forum.

[joinfree]

Holding dear unto an altcoin will make you regret big time in future. Altcoins always have their glory days on the market and every experienced crypto investor will take advantage of those days and hodl more bitcoins by selling his bags of bitcoins but newbies would hodl on and regret later thinking they can make huge profits with altcoins. Most altcoins don't have good use cases to drive in liquidity.

[Gibreil]

Bitcoin = Long term holding
Altcoins = Short term trading

I agree with OP. If you want to assure your hodlings, don`t marry the altcoins since they may collapse anytime soon. However, there are also alts that are good enough to sustain their project on behalf of a bearish period. So, we have to be very careful in selecting altcoins because plenty of them will dump your capital. It is good to be baghodlers of altcoins if the project has potential to grow or the developers are really serious in the development of the project.

[Botnake]

Good advise though, I've been married with different kind of altcoins almost 4 years already, lol..
I would say I'm a bag holder of some shitcoins now but despite of that, I can still proudly say that I made a decent profit of selling some during the last bull run.

It's a gamble when holding, but as long as we know how to diversify, I guess we will still end up with a good profit.
Now, though the chance is very low to sell my altcoins, but I'm waiting for the 2nd bull run, who knows, these altcoins that I held will come alive.