My crypto journey so far

[Pokapoka124]

My  crypto journey has been a long and murky one. I got interested in bitcoin in 2018 at the peak of bitcoin. I didn't know much about alt coins. I was only interested in bitcoin. I knew nothing about trading, I just knew I had to stack some bitcoin. I registered on blockchain.com as it was the only wallet I knew at the time. I created an account and tried to buy Bitcoin but was restricted because of my country. I was shattered. But that didn't stop me, I was lucky to meet someone who was willing to sell his bitcoin.
Within a month I made some profit but didn't sell. I have more of a hodler mentality. So when then the market eventually dumped it was devastating to watch. I didn’t put in more than I could lose, but I put enough in where it really hurt to watch it go down the drain. There were several times I thought about selling and cutting my losses. But I hedl!
Fast forward to the now, I have more knowledge of crypto and have a more diversified portfolio. Strangely, I come to find I own more alts than Bitcoin. I learnt to trade on binance and doing quite well. The market is going nuts at the moment, no one knows for certain what to expect next.
Will the bull run end soon? Who the hell knows. 

What's your tale?

[bitmover]

Fast forward to the now, I have more knowledge of crypto and have a more diversified portfolio. Strangely, I come to find I own more alts than Bitcoin. I learnt to trade on binance and doing quite well. The market is going nuts at the moment, no one knows for certain what to expect next.
Will the bull run end soon? Who the hell knows. 

What's your tale?

I dont think that by buying altcoins you are diversifying your portfolio.
All altcoins are highly correlated to bitcoin price, and if bitcoin fall all of them will (some coins will hold better for specific reasons, but they will also suffer)

For example, take a look at this chart from coinmarketcap.com

https://www.ft.com/content/52fdd604-f82a-4339-b51a-04bab7d7b142


So, you are not really diversifying. When things go wrong, all alts just follow btc.

Personally,  I think holding more altcoins than bitcoi  will be bad in long term . Bitcoin had a better performance in the past than most altcoins, so I dont see a reason to hold so much of them

Overall, it is good that we are all making money in this bull market, but we should all be cautius 6now.

[Pokapoka124]

All altcoins are highly correlated to bitcoin price, and if bitcoin fall all of them will (some coins will hold better for specific reasons, but they will also suffer)

I agree the price of altcoins is dependent on bitcoin but there is a better chance of making more profits trading alts than btc. From the image you shared, we can see significant loss in alts when bitcoin dipped but same happens when bitcoin pumps, the alts pump even harder, thrice or four times as high as Bitcoin. Of course of not all alts are profitable some are just shit coins

[The Cryptovator]

I agree the price of altcoins is dependent on bitcoin but there is a better chance of making more profits trading alts than btc. From the image you shared, we can see significant loss in alts when bitcoin dipped but same happens when bitcoin pumps, the alts pump even harder, thrice or four times as high as Bitcoin. Of course of not all alts are profitable some are just shit coins

Just keep in mind that altcoins do not follow the Bitcoin trend always. I have learned from my past mistakes and still, my portfolio hasn't recovered what I bought years ago. Most probably I had chosen shitcoin or I didn't have trading experience as well.

Anyway seems you have a good journey with Bitcoin and your experience with Bitcoin is good as well. But all peoples aren't lucky as you. My starting was good with Bitcoin, but lately seems I am not lucky and still losing my portfolio. But hope once a time my portfolio will be recovered and I will have a good experience with Bitcoin. Best of luck to you.

[jossiel]

IMHO, the majority of us got almost the same story how we endured the pain of the bear market and how painful it was to watch our portfolio's going lower in terms of their value in USD.

One thing I've learned, it's okay to diversify but it would give you a better standing to the market if you've got more bitcoins than your altcoins. But it's all how you will handle your portfolio and the strategy that you'll built as you hold, add/buy and sell.

[cryptoaddictchie]

I agree the price of altcoins is dependent on bitcoin but there is a better chance of making more profits trading alts than btc.

This I agree on. Its not that I am not pro bitcoin but the result on trading is quite impressive on Altcoin. Bye OP nice statement, its quite frequent to see newbies with this kind of broad experience. I can sense how you're doing good here on forum.

Props for YOU OP. Kinda have a different story but the ending is I become more active and learn so many things in crypto and its details. Keep it up.

[SquirrelJulietGarden]

Just keep in mind that altcoins do not follow the Bitcoin trend always. I have learned from my past mistakes and still, my portfolio hasn't recovered what I bought years ago. Most probably I had chosen shitcoin or I didn't have trading experience as well.

Only strong altcoins can join the trend of bitcoin and rise in price. It is price in fiat not in altcoin/BTC. Ethereum is outstanding altcoin in its price but if you bought it in 2018 with price around 0.15 BTC for one Ethereum, now you get serious loss. Ethereum has higher price than in 2017 and 2018, in USD but in BTC value, it has a one-fourth of past value.

Anyway seems you have a good journey with Bitcoin and your experience with Bitcoin is good as well. But all peoples aren't lucky as you. My starting was good with Bitcoin, but lately seems I am not lucky and still losing my portfolio. But hope once a time my portfolio will be recovered and I will have a good experience with Bitcoin. Best of luck to you.

Get profit in bull market is easy. The challenge is how to keep your profit then your capital safely when the bear market rings the alarming bell.

[Darker45]

Only strong altcoins can join the trend of bitcoin and rise in price. It is price in fiat not in altcoin/BTC. Ethereum is outstanding altcoin in its price but if you bought it in 2018 with price around 0.15 BTC for one Ethereum, now you get serious loss. Ethereum has higher price than in 2017 and 2018, in USD but in BTC value, it has a one-fourth of past value.

This has always been my point. If you are trading altcoin/BTC, it is silly to be looking at their dollar price. If you are constantly monitoring their prices in USD, you better be trading with stablecoin/BTC or stablecoin/altcoin.

I have encountered people trading altcoin/BTC who are saying we have made profit in USD but we lose in terms of BTC. I was made to think like 'wait a minute, this is ridiculous.' If that's the case, you are not gaining at all. If you are losing in terms of BTC, that means you are losing. You're not gaining at all. Had you merely hodled and not traded, you would have a bigger value in USD. It was BTC which made gain and not you.

[GreatArkansas]

bitmove is somehow right about converting your Bitcoin to other altcoins.

I already experienced that before, like maybe a few months after I knew Bitcoin, and I also a fan of altcoins before. It was sad to say that I lost a lot of my Bitcoin because of altcoins before. (Not telling all altcoins are worst) Maybe I was in the wrong time or my altcoins bought before were not good.

I entered cryptocurrency before in 2017, which was my first bull run, so for you, this currency bull run is somehow your first bull run. And we also almost the same question, about bull run span, like "until when".

[UserU]

bitmove is somehow right about converting your Bitcoin to other altcoins.

I already experienced that before, like maybe a few months after I knew Bitcoin, and I also a fan of altcoins before. It was sad to say that I lost a lot of my Bitcoin because of altcoins before. (Not telling all altcoins are worst) Maybe I was in the wrong time or my altcoins bought before were not good.

I entered cryptocurrency before in 2017, which was my first bull run, so for you, this currency bull run is somehow your first bull run. And we also almost the same question, about bull run span, like "until when".

2017/ 2018 was a great lesson. Many of us paper handers succumbed to the pressure when we saw our first major correction and then the bull run late last year.

Well now I'm not gonna sell even if it drops to 30s or even 20s. I'm just gonna collect more and more.

I lost a lot of my Bitcoin because of altcoins before

We've been there. The gains from them are quite spectacular compared to hodling on BTC alone.

[Daniel91]

A lot of us have gone through a similar experience in the past.
At first I didn't take btc seriously and in 2017 when I started to take it more seriously, I decided to do a diversification and switched a lot of bitcoins to altcoins.
In the beginning it was a good decision because my altcoins grew much faster than bitcoin but when there was a drop in prices in 2018 these altcoins fell much more and faster than bitcoin.
If I had everything in bitcoin I would now have a lot more bitcoin and less loss and that is a lesson I will never forget.
Altcoins are only good for short-term trading but profits should be converted to bitcoin immediately.

[bitmover]

I agree the price of altcoins is dependent on bitcoin but there is a better chance of making more profits trading alts than btc.

And there is also a higher chance to lose money while holding alts.
Bitcoin bashing all altcoins since 2018. Basically all alts are losing value in the altxbtc since 2018.

There are a few exceptions,  like bnb and chainlink, but most of them are decreasing value against btc like 3 to 10 times. Even ethereum, which is now 2k while its last ATH was about 1500. Last btc ATH was 20k and we are 3x that now.

[AniviaBtc]

I agree the price of altcoins is dependent on bitcoin but there is a better chance of making more profits trading alts than btc.

This I agree on. Its not that I am not pro bitcoin but the result on trading is quite impressive on Altcoin. Bye OP nice statement, its quite frequent to see newbies with this kind of broad experience. I can sense how you're doing good here on forum.

Props for YOU OP. Kinda have a different story but the ending is I become more active and learn so many things in crypto and its details. Keep it up.

Many people are only focusing on bitcoin without even trying to explore more cryptocurrencies in the market.

There are a lot of gems in the market which can give you profits that you want to work for besides bitcoin.

Seizing the opportunity of having different kind of coins and having different kinds of sources of profit is really effective if you try to study and work on it.

[masulum]

I dont think that by buying altcoins you are diversifying your portfolio.
All altcoins are highly correlated to bitcoin price, and if bitcoin fall all of them will (some coins will hold better for specific reasons, but they will also suffer)

Exactly, diversifying asset to altcoin maybe not good choice when they are also following BTC price. And yes, this is not for long terms. Diversify asset with altcoin will be working good when altseason. Like current market, if we are diversify our portfolio from January with ETH, BNB, DOGE, TRX, they already get huge profit than only in BTC.
But we must be remember, when BTC down, altcoin can be down more than BTC percentage like BTC down 0.4%, altcoin can be down for 8% or more.

[UserU]

Altcoin can multiply your portfolio 10x times or even more. It's actually depends on our perspective how we take it. Suppose you had $5000 to invest back in January, what would be the return on BTC vs what would be the return on alts today? we can take as BTC and BNB.

I don't make shitcoin recommendations, so trade at your own risk.

True that. Look at XRP. If someone were to scoop up 1,000 at 30 cents just mere months ago, that'd be worth $1,790 right as we speak.

A whopping $1,490 in gross profit.

[aysg76]

I agree the price of altcoins is dependent on bitcoin but there is a better chance of making more profits trading alts than btc. From the image you shared, we can see significant loss in alts when bitcoin dipped but same happens when bitcoin pumps, the alts pump even harder, thrice or four times as high as Bitcoin. Of course of not all alts are profitable some are just shit coins

Most of the altcoins follow the Bitcoin rally but some altcoins are independent of their own.Many traders find btc price too high for investment and they can invest the same amount in other altcoins like ETH,BNB,DOT which can show really good growth in the future which can more profitable in the long run.So it all depends upon your preference and if you have invested your time and funds in the right altcoins then in the long run you will have profits.Altcoins have shown substantial growth 200-300 times this year and trader have gained huge surplus in their balance and you can also be part of lucky traders.

[sujonali1819]

Just keep in mind that altcoins do not follow the Bitcoin trend always. I have learned from my past mistakes and still, my portfolio hasn't recovered what I bought years ago. Most probably I had chosen shitcoin or I didn't have trading experience as well. 

This happen to me always. Do trade and make some little profit several times. But the luck does not work properly all the time. After making some little profit I decide to invest in some coins and do some big lose which is bigger than the profit what I made previously. Try to hold them to recover lose but I feel that time maybe I am already fall into trapped. Can not sell by thinking about lose but it continuously dumping.

Will the bull run end soon? Who the hell knows. 

very hard to say. People were saying bitcoin make some huge correction for atleast some months after reaching 50k usd. but it is still growing and making new high everyday.
So it's very tough to say that the bull run will end soon or not... Personally I think maybe a big bull run is waiting for altcoins.

[ShowOff]

very hard to say. People were saying bitcoin make some huge correction for atleast some months after reaching 50k usd. but it is still growing and making new high everyday.
So it's very tough to say that the bull run will end soon or not... Personally I think maybe a big bull run is waiting for altcoins.

The price of bitcoin and altcoin has become something very difficult to predict now as it keep increasing day by day. The market cap is getting bigger as the altcoin season is going on and we don't know when it will end. At this stage, I think one should consider market saturation before a major correction occurs. Most of the altcoin are currently in their best form and have provided substantial return to holder and trader alike. I believe that if bitcoin experiences a correction, we will see the market will burn for a while before it finally recovers. We have to be very careful with this investment, altcoin don't have much of a capability to sustain a long trajectory.