Has AltCoins thought you a hard time lesson before?

[AVE5]

The current increments in the crypto markets got my friend regreted after a hard time he faced last year after investing $1,000 on the AltCoin and he lost it all.
He said he Invested this some of money with his analysis that the AltCoin he invested on would rise but the volatility volume of the coin went south for him where he watched the Coins fluctuating and he felt the situation was one of the volatility potential systems in the crpto currencies.
Like he said, he watches the coins dropped from $1,000 to $8,00-$500 and was expecting it would pump up not til the coin melted to the point of loosing it all.
He said he if he knew it was going to be that way he would had had used the money to buy anything at the rate of $1 for the $1,000 just to make sure he gives achievable account of the coin.
He has decided not to invest on AltCoins again but just of recent he said he wished he had invested in the AltCoins this time due to the attractions of AltCoins as the results of the current bitcoin bull runs.
WHO AMONGST US HAD ALTCOINS THOUGHT A HARD LESSION IN THE PAST.

[Dr.Bitcoin_Strange]

The current increments in the crypto markets got my friend regreted after a hard time he faced last year after investing $1,000 on the AltCoin and he lost it all.

This is very possible. He could have also been lucky if the token pumped by 1000x, but it is quite unfortunate that the token did not pump as he had predicted. Let him just accept his loss, and next time he should be more alert to set a determined price where he needs to stop losing and take his remaining capital. What I mean is that since he noticed that he had lost about 50% when he was left with just $500, he would have just gone off the market by selling the token at that moment. Even when he lost up to 80%, he still took off the remaining $200 he may have been left with. 

There was this coin in 2022; during their IEO, a piece of their coin was sold for $15, but the coin got listed at the price of $8 thereabout, which, as we speak, is trading at $0.03. This coin has caused terrible losses to those who bought it during the IEO and also to those who may have bought it at $5, hoping that it would pump to $15, which was the IEO price. 

So many investors have suffered terrible losses through most altcoin's ICOs, IEOs, IDOs, and even the public sale. 

In the past, there was a token I bought and the price dumped badly, which angered me enough to abandon the token on the exchange where I bought it. The last time I checked, the token had been delisted and the project was dead. From my experience with altcoins, I just decided to only invest in Bitcoin. 

[Text]

It's been a roller coaster ride since I was active in Altcoins; it was a wild journey. I've had my fair share of ups and downs with AltCoins as well. It's a tough lesson to learn, but it's a common one in the world of crypto. Some of them were blessings when I sold them at the right time, reaching my selling price target. However, most of them turned out to be cursed because, since the fall, they haven't recovered, similar to what happened to your friend, whose investment turned into dust. One mistake I see he made is not diversifying, and perhaps he didn't know much because he might be relatively new to this space and got carried away by the promises of that project.

[glendall]

I once had a difficult time with altcoins, when I first entered the world of crypto, where I didn't have a financial advisor in crypto, but that way I was able to learn to research every coin I was going to invest in, not because of fomo and hype to buy altcoins but how much the great development of altcoins themselves,

[Husires]

Investing must be far from emotion and there must be an investment plan. Otherwise, investing in Bitcoin may be a loss if you bought near ATH and decided to sell because you are afraid of loss. The only difference between investing in Bitcoin and altcoin is that in the case of Bitcoin, you are guaranteed that the price will not be close to $20,000 and it will rise, so all you have to do is wait, while in the case of altcoin the price may reach $0.0000000000001 and it may not rise.

[jrrsparkles]

Minimize your loss to maximize the profits is one of the strategy that everyone should practice. So, what he can do to avoid losing all his capital if things go south when he decided to invest on altcoins again. He can use the stop loss feature to trigger selling if price drop below certain range which varies according to everyone's risk tolerance. For example if he is not willing to take risk if price dropped 30% then he can set that value and save the 70% of the capital value.

[MFahad]

I'm pretty sure that your friend didn't do enough research before making that investment because if he had done that and had analyzed the project thoroughly, he wouldn't have invested his money in a coin that would completely melt down. After all, a good project might lose value but it wouldn't completely melt down even in the bear market when the whole market goes down.
So even though I agree that almost everyone can become a victim of such a thing, one can mitigate the risks greatly if they do enough research about a project before they make their investments if they are investing in altcoins.

[AVE5]

It's been a roller coaster ride since I was active in Altcoins; it was a wild journey. I've had my fair share of ups and downs with AltCoins as well. It's a tough lesson to learn, but it's a common one in the world of crypto. Some of them were blessings when I sold them at the right time, reaching my selling price target. However, most of them turned out to be cursed because, since the fall, they haven't recovered, similar to what happened to your friend, whose investment turned into dust. One mistake I see he made is not diversifying, and perhaps he didn't know much because he might be relatively new to this space and got carried away by the promises of that project.

Please i needed to know if diversifying as you may say would had bridged the lost that just occurred to my friend or is it that diversifying would only give him courage to withstand a one side lost and gains from the other side.
You made a clear point that probably he maybe new to the AltCoin sphere because he would had sold it when he must had made some values of income instead of keep holding hoping to make more of incomes.

[Bureau]

Investing in altcoins comes with great risk and that too investing in a single coin is highly risky. That is why it is always advised to diversify the portfolio which helps as if one coin fails the other might be a success. Diversifying the portfolio is risky if the coins where the amount is being invested fail. But, the risk is far less than investing in one single coin. If your friend had invested all his $1000 in coins like Ethereum or BNB then he would not have lost all his money. That is why doing research before investing is always recommended and investors should not blindly follow influencers.

[Sophokles]

Yes it did but i don't want to blame the project for this. I was inexperienced which caused me to have unrealistic expectations. When i could sell off for a decent profit i kept holding until i lost most of my holding value. No matter how good a project is we all should extract our seed money and let the profit claim the ladder. No one knows the future and we can end up holding a sunken ship. I had my lesson, and it was a valuable one. This experience helped me make more profit later on and saved me from taking a loss again.

[batang_bitcoin]

When there was also that much hype in altcoins during the ICO days. I bought some of them and did profit and brought that thought until the next years to come. And what happened next is probably all of us were aware of it. That time didn't do any good to the market because it was like a complete shutoff where it's entire bear market has got killed a lot of altcoins during that time. From that lesson, I was no longer investing heavily in alts anymore although until now, I hold some.

[bussybuddy]

The big lesson I received through altcoins is "high profits come with high risks", I had time to enjoy projects through ICO, lending,... 2017. And indeed it is still exciting. It's worse than gambling, but teasing it fosters greed and makes me depressed when I lose everything. So when I look back, I still feel really happy because I realize the truth that the opportunity we create for ourselves and being able to take advantage of it is also for ourselves.

For me, the current altcoin environment is only a short-term investment process because I am aware that when my capital is larger, I will not prioritize risk, so I will prioritize bitcoin more in my portfolio.

[MFahad]

It's not the fault of the project rather it's the fault of the investor in this case I think. Why did he invest so much money in an  altcoin that he can't afford to lose. It has been a trend that people lose money by investing in altcoins and on the other hand some gained so much profit that their lives changed.

Remember you have to be very careful while investing in crypto. Only invest that much money which on losing neither affects you physically nor mentally.Tye market research is very crucial like In this case he might not have done it up to the mark otherwise losing all of his assets was not possible if he would have made the right choice.

[odunybiz]

This topic made me remember the altcoin I started my crypto journey with. The name of the altcoin is Wakanda Inu. This coin was highly hyped. So I keep buying not even with only my spare money but also the money I should use to feed myself. Today, this altcoin has turn to dust with their fake hype.

[Belarge]

Yes it did but i don't want to blame the project for this. I was inexperienced which caused me to have unrealistic expectations. When i could sell off for a decent profit i kept holding until i lost most of my holding value. No matter how good a project is we all should extract our seed money and let the profit claim the ladder. No one knows the future and we can end up holding a sunken ship. I had my lesson, and it was a valuable one. This experience helped me make more profit later on and saved me from taking a loss again.

We all have lost something tangible and worthy to us during our early starts in the crypto space. I know it's not easy but all these past events are thoughts of experience in the system. I've learnt my mistakes and seeing myself improving is certainly something that gives me joy. We tend to take bold steps in the system every single time because there's no way than handling the market during our convenient time. Everyone had a terrible experience in the system, but I'm stick to my principles because that's the specific steps to follow if one still keen on milking from the system.

[Forsyth Jones]

This market is crazy, irrational and often unfair, so you can't be too careful, the best thing to do if you have money that you don't want to lose is to keep it in Bitcoin, the time to invest in altcoins is in altseason.

Your friend went through an experience that I don't want for anyone, but we all make mistakes and we often let ourselves be carried away by greed and learn from our mistakes.

I'm seeing a lot of coins rise, but I've already spent everything on BTC and I don't want to expose my bankroll to altcoins at the moment, although it's very tempting.

[Hispo]

I believe I have indeed learned a lesson from an Alternative currency (actually it was a token), a friend of mine invested quite a money on a token called "waifu", it was supposed to be a platform for people to get NTFs of pretty art of anime characters based on cryptocurrencies themselves, there were anime girls of Bitcoin, Monero, Ethereum... There was a little bit of everything really.
As my friend invested on it, I also felt tempted to do the same and out some of my money on it, in the end I did not do it because I wanted to buy Bitcoin and Ether.
The prices fluctuated much with the token and there were days when my friend was in the green numbers, but in the end, it seems the token decreased of value and my friend seems to have lost his money because of it.
Since I was just about a couple of click away from investing on that same token, it would be fair to say I Learnt an important lesson that day, about the importance of investing in projects which focused on NTFs and emulating the movements of other alternative coins/token investors.  

Even to this day, I feel bad for the misfortune of my friend.

[Essential10]

OP, There are thousands of alt coins in the market. In altcoins it is very difficult to choose and invest among thousands of coins. I don't know which currency your friend invested in. Current market price of bitcoin is above $60k. As the price of bitcoin rises, a lot of altcoins have pumped. If your friend had invested in the top altcoins in the market, he would have made a profit right now. I think top altcoins like ETH, BNB, SOL are good for investment,investing in these coins will make profit in upcoming bullrun.

[strunberg]

The current increments in the crypto markets got my friend regreted after a hard time he faced last year after investing $1,000 on the AltCoin and he lost it all.

I bought several altcoins in 2021. Unfortunately it was the peak of ATH and many altcoins were at their ATH. I bought some altcoins at the highest prices. At that time I thought the price would pump up again and I could make some profits there. But it turned out that some projects were just short-lived hype and to be honest I lost 90% of my investment. I was very angry at that time.

Actually, I still have those coins in one of the exchangers and I haven't checked them in 3 years because I'm really angry. And a few days ago I checked again and there were several projects that were dead. But I have some coins that can save about 30% of my investment. I'm thinking about saving in BTC for now. But if possible I will try to use 10% for 1 or 2 altcoins only.

[oktana]

Very hard lesson! But I don’t feel it anymore as I used to because I have seen people who have lost even more money in crypto think of it as consolation idc (><). And if I’d be honest it also happened with my analysis just like your friend, but don’t judge me, it’s speculation we all do (even the experienced traders).

But the lesson I learnt is that when you’re trying to use a short route, you could end up worse than someone who used the longer route. Bitcoin at this current stage would never make your money drop from such large amount to nothing. It’s as simple as investing small when dealing with certain altcoins.