Will the altcoin holders hang on until the bull run comes ?

[FireDAOJackie_Z]

I believe everyone on this forum has made both good and bad decisions in terms of investing in altcoins. I recently made a mistake buying a lot of Dogecoins after Elon Musk changed the Twitter logo into the Doge logo. Price was surging and due to FOMO, I bought a lot at the price of $0.099 and afterwards it started to dump like hell. If I continue to hold Dogecoins, the price might be dumping even lower but if I sell them now, the losses become concrete and I'll never have a chance to win back. Have you ever had the same experience ? What did/would you do ? Please share your opinions. By the way, I am with FireDAO team, in charge of the global community. Please contact me if you have any inquiry.

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[hugeblack]

What you are saying is emotional investment, where the emotion of greed prevails over you and enables you to think logically, meaning, there is no time to think. Invest now before it is too late, Elon Musk will tweet again and the price will rise.
And the next morning, when logical thinking returns, the loss has already been made.

Unfortunately, emotions have a decisive role in investing, but you are the only one who can turn them into something useful or a real loss.
Turning it into something useful is by following a specific strategy, thinking several times before investing, it is true that thinking will reduce your profits, but similarly it will reduce your losses.

[Yogee]

If you used most of your funds to buy Doge that you don't have enough to spend on other important things then selling even at a loss is understandable.
If you could still somehow manage then you may as well wait for a few more months to break even or profit a little if you get lucky.
You'll have to decide whatever strategy you're comfortable with.

There were times when I cut my losses and reinvested the proceeds in another token worked. There were also cases where it didn't and I ended up with more losses.

[cryptoaddictchie]

Thats the thing about fomo. Its not really good for people who are just swayed by news or hype. Elon do that frequently so its like you caught the big wave and now caught it by suprise. Of course some will take profit from that those who are like a second of the news who liyerally bought a lot and when many have realize the pump. There they can unload their bags on the late comers. But its okay if you hold it for long term maybe youll experience the same pump when Elon drop another cheap trick on socials.

[DeathAngel]

I think undoubtedly that there will be people holding their crypto until the bull run & beyond that, into many future bull runs. There are lots of people who think long term. People who think short term & want quick profits are usually the types who end up REKT. Patience is so important in any investment vehicle.

[Marvell1]

Please share your opinions.

In investing, there is always a temptation, and it only takes a little carelessness for greed to surface and we will pay the price. In terms of investment, doge is a meme with no utility, and many say it's useless. But we come here to invest, and seek profit, so if it's an opportunity, we shouldn't miss it. For me, you buy doge at that price is not too much to worry about, doge will still recover and increase because there is still Elon behind. He's making good money with it, so there's no reason to ditch it now. If I invest in altcoins, I would rather invest in Doge than invest in old altcoin projects.

[uneng]

Have you ever had the same experience ? What did/would you do ? Please share your opinions.

Yes, many of us have already faced this situation exactly like yours in crypto universe. The most important thing is to avoid similar mistakes futurely.

In your case, that is to be careful with speculators like Elon Musk who has already lured many investors into losses. This DOGE logo on Twitter's incident we saw days ago, was expected to turn into what you described above.

Next time don't get too excited about following Musk's steps on investments. And always invest aiming long term results, while avoiding shitcoins such as memecoins.

[ethereumhunter]

You have two choices now: sell it immediately after the price drop or still hold on to it and keep buying at a low price in the hope that you can reduce your average purchase price. I once had an experience like yours but that happened a few years ago and I don't regret it because, with that mistake, I could learn a lot that doesn't chase the rising coin prices. After all, we can get stuck at high prices. So now it depends on your decision and you should think carefully before deciding.

[fvb]

Such moments happened to me many times. And I used to sell in a panic, and sometimes I just waited and won. So this is not advice and the decision is up to you.

[jossiel]

Yes, I did the same experience for some altcoins and I just held back and accepted my losses. If I recover that's nice but if I hold, I basically accepted defeat and that money was lost already.

This is the risky thing in investing in alts when you're not prepared for it, you'll be emotional to accept it that your money is lost forever and if it's looking that the recovery is going to be hard then there's no expectation of any loss coming back.

[o48o]

I believe everyone on this forum has made both good and bad decisions in terms of investing in altcoins. I recently made a mistake buying a lot of Dogecoins after Elon Musk changed the Twitter logo into the Doge logo.

I would brush it as a rookie mistake but have comfort in the thought that you weren't alone. Elon is just the newest influencer, there have been many in the past that people follow. This will pass too sooner or later. People eventually get bored on combatting with trading bots and Elon's tweets.

Price was surging and due to FOMO, I bought a lot at the price of $0.099 and afterwards it started to dump like hell. If I continue to hold Dogecoins, the price might be dumping even lower but if I sell them now, the losses become concrete and I'll never have a chance to win back.

Why do you think you never have a change to in back your money? I am not saying you will but if you don't hodl, you won't be making it back. Least not with doge. Selling in loss now might be the best option as this was the ultimate peak for doge visibility. There are no big events to wait for doge anymore.

Have you ever had the same experience ? What did/would you do ? Please share your opinions. By the way, I am with FireDAO team, in charge of the global community. Please contact me if you have any inquiry.

People make mistakes all the time, no matter how long have you been in this scene. Most people who got rich most admit that they were lucky. And by that i mean luck is a part of it but not everything. As people who are not selling now will be called lucky at the next top. This has been so for all the cycles i've been in.

[Jackl87]

I believe everyone on this forum has made both good and bad decisions in terms of investing in altcoins. I recently made a mistake buying a lot of Dogecoins after Elon Musk changed the Twitter logo into the Doge logo. Price was surging and due to FOMO, I bought a lot at the price of $0.099 and afterwards it started to dump like hell. If I continue to hold Dogecoins, the price might be dumping even lower but if I sell them now, the losses become concrete and I'll never have a chance to win back. Have you ever had the same experience ? What did/would you do ?

Well one of the rules of crypto investing always was "buy the rumor, sell the news" which means that most of the time it is to late if you buy a coin after they have released some big news. You need to buy them before those news become public, that is not possible in most cases though if you are not an insider. So you at least need to be very fast once the big news are hitting. If the news are already 1hour old or even older i would not buy anymore.
Losses only become a reality when you sell those coins. So if you can afford to hold them longer, then i would definitely do that. If a new bull market comes, then Dogecoin will definitely pump together with the rest of the market and you can sell your tokens then.

[electronicash]

you will need to wait for the price to pump again. and if you sell now and then suddenly the price goes up, you will again regret selling.
while there is no altcoin season yet. it's a reason to buy more for more profit when another pump comes. yes, holders hang on to the coins they got until they see substantial profit before selling.

there must have been many holding dogecoin like you as well who feel disappointed because it goes up when you least expect it.

[Johnyz]

Being hyped seems to be the trend in cryptomarket, you’re not alone as many are trap as well with the other projects. With DOGE I think its price can recover, all you have to do now is to have more patience and learned from this mistake.

Elon is know for this kind of hype, you should already know this since you also have your own project and I’m wondering why you are still being hyped when in fact you should know what to do in the first place. Cryptomarket is full of hype, if you don’t know what you are doing better not to ride with any hype and stay focus on your own goal.

[Natalim]

I believe everyone on this forum has made both good and bad decisions in terms of investing in altcoins. I recently made a mistake buying a lot of Dogecoins after Elon Musk changed the Twitter logo into the Doge logo. Price was surging and due to FOMO, I bought a lot at the price of $0.099 and afterwards it started to dump like hell. If I continue to hold Dogecoins, the price might be dumping even lower but if I sell them now, the losses become concrete and I'll never have a chance to win back. Have you ever had the same experience ? What did/would you do ? Please share your opinions. By the way, I am with FireDAO team, in charge of the global community. Please contact me if you have any inquiry.

Not quite a big mistake dude, you actually follow what you think is right and besides, many people had also gained profit from investing in Dogecoin but unfortunately, the time does not give you a favor, I think you come late. But, I was believing that you can still make money for this project, you only have to wait for the next hype and sell them right away.

But on the other side, whether we make mistakes or make wrong decisions but I don't think we need to regret doing it. Instead, consider this as a lesson to learn and avoid such decisions in the future.

[Oceat]

Of course, they will but there are some coins that won't reach bull run due to too much hype and will eventually dump before the bull run start. Of course, these are the shit coins I'm talking about but for the other legit altcoins like the ETH, BNB and other they will give great rewards during the bull market especially when the ATH of Bitcoin reached but this might happen at 2024 or 2025.

[Captain Corporate]

It has to be said that there are two types of altcoins, and the answer to this question changes based on that. First of all we have the big ones like eth, bnb, avax, sol, even ltc. Those are big names and holding them until the bull comes is a great idea and should be done. However, there are also a different type of situations where we are talking about a bit lower than that, stuff that are low rank means that they could be as low as out of top 100, which would not be really that much of a big deal considering that we are talking about something you can sell and get out of. So that's the situation, most people will hold the big ones, and maybe hold the smaller ones but could potentially get out of those ones.

[blockman]

but if I sell them now, the losses become concrete and I'll never have a chance to win back.

That's a cut loss and it's typical for someone who doesn't want to see further loss with his investments. But if you think that you can no longer win them back, try to win them back through other means. Investing in bitcoin is the best way to win some back from your losses in other cryptos. Don't be too focused on meme coins, they're now pumped and dumped coins and the gains that they'll give you were passed done already before Elon gets a hold of it. Not all of these coins will recover when we've come to the point of being in the bull run again. It doesn't go like that at all times.

[poodle63]

getting fomo'd with meme coin just because of elon will always incur loss, you should never ever accumulate meme coin that has recently increase in value since it's most of the time, just short lived bullrun.
i'd say there's nothing really you can do and instead, you should migrate over your investment into better coin, meme coin nowadays aren't even worth blinking at, let alone investing.

[smyslov]

I believe everyone on this forum has made both good and bad decisions in terms of investing in altcoins. I recently made a mistake buying a lot of Dogecoins after Elon Musk changed the Twitter logo into the Doge logo. Price was surging and due to FOMO, I bought a lot at the price of $0.099 and afterwards it started to dump like hell. If I continue to hold Dogecoins, the price might be dumping even lower but if I sell them now, the losses become concrete and I'll never have a chance to win back. Have you ever had the same experience ? What did/would you do ? Please share your opinions. By the way, I am with FireDAO team, in charge of the global community. Please contact me if you have any inquiry.

We have proven in the past that Dogecoin lived on hype and it's not really a stable investment, it remains on top because of Elon Musk, I have had a lot of bad experiences on so many altcoins with no usability only lived on hype and shill with, the bag holders are the one that makes a lot from this.
Honestly, it's hard to decide if you're an altcoin holder that's losing its value because you're still hoping that the price will increase so you can even up, and you get frustrated if it's not, it's hard to dump and forget your losses, compared to Bitcoin that can always make a rebound.