Has AltCoins thought you a hard time lesson before?

[husencoe]

I think almost everyone has made mistakes in the past, and that's what makes us who we are today.  I think your friend was wrong in predicting the Altcoin he held.  He should have cut losses when he saw the coin falling further, and stopped hoping it would rise.  Let him accept his loss and use it as a lesson to move further.

WHO AMONGST US HAD ALTCOINS THOUGHT A HARD LESSION IN THE PAST.

I also have make mistake. I left my tokens on the market in 2018, and when I returned in 2021, many of my tokens were worthless and several exchanges had died.  I also once invested in a small coin that had a fantastic rise, and I lost everything in a week.  I still hope it will rise again, but in the end the coin is completely dead and worthless.

So we have to be careful when investing in Altcoins.  We have to really do analysis and act quickly when the market is unfriendly.  It is better to turn around and lose a little than to persist then lose everything.  Invest in top coins and choose at least 5 good coins to minimize losses. And hope we don't fall into the same hole twice.

[Troytech]

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.

Your friend acted foolishly in my opinion, 1500$ would have gotten him quite the amount of bitcoin to actually benefit from the bull run at almost more than 5x in his initial investment but end up losing it all on an alt that he didn't even know their foundation.

To me the lesson here is don't be greedy with gains and invest in trusted projects that have a history of paying off than new projects or unfamiliar projects that just promise it looks like they would give you anything out if it, and more over I feel this story is all made up and OP If it's not then you should be bold enough to provide more details about the coin that was bought and when he did this transaction. Unless it's all just a lie.

[shinratensei_]

I learnt an expensive lesson to not hold altcoin for too long because altcoin in general are meant to be hold for short term of course except very few but thats it actually if you can cash out and be making some profit then cash out,
always remember bitcoin and eth will probably never get replaced by your coin that are labeled by the devs as bitcoin or ethereum killer but we all know that is just one big fat lie.

rule of thumbs, you make profit or at least reached the target of your profit then its better to cash out there might be some coin that will increase multiple folds yes but thats just really rare chance to bet on the odd is so low you better off not even bother about finding such coin other than you're buying at bearish when all coin hits the rock bottom and you are willing to wait long enough and become the long term investor.

the thing im seeing from the histories of various coin is that, the position of coin ranked by market cap at around #3 all the way to #20 is dynamically changing just like the coin ranked below them, you know holder eventually cash out, some people will eventually lost interest, if you want safe investment you should invest in ETH or BTC that at least don't have such characteristics since the gap of the market cap is so huge.

[babygun]

I think everyone has made bad calls in the past, even with all the prizes going up like crazy I am still in loss on a bunch of altcoins I bought years ago; on some of them I still have -80% (filecoin, the graph,…). Best call I made was probably buying some ETH when it was at 500$.

[btc78]

This is very unfortunate, yes, but I think your friend shouldn’t be too cautious. It’s good that he will be now more careful and less impulsive but altcoins are like a pool of coins and you can only find one old gold coin among them all. My point is sometimes the coin increases sometimes it doesn’t.

Take this loss as a lesson and come back stronger. Do not give up and keep on going forward

[Makus]

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.

Op, the story of your friend is a bit interesting but from what I understand the story is that, your friend is a greedy trader. Though having patience pays alot but when we are not 100% guaranteed that the coin is trust worthy what's the reason to still have faith in the coin when things are going bearish? I don't buy altcoin for holding and that because of instances like this, when I believe in something, I hardly let go and that why I will never cease to adopt Bitcoin more and more. But what I don't get is, after your friend must have left altcoin investment, he should have focused on Bitcoin alone and use all that he has for investment to boost his Bitcoin portfolio, if he had done that, he wouldn't be regretting after seeing the current pump in price of some altcoins, because Bitcoin alone will bring enough profit and satisfaction.

[The Future]

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.

A few months ago, HOOK really caught at me. I had invested almost $2k in HOOK in the $1.15 to $1.30 range. Then it goes down to $0.75. However, I hold them, and a few months later, I return my money with interest. Fairly, I thought I had lost my funds, but holding paid me off.

[FanEagle]

To be fair, not really. I mean there were plenty of things that I have seen people getting scammed or failing, and if I was part of them then I would say it would be a "hard" lesson, but aside from a few gambles here and there with small amounts, I have never invested into anything that looked risky. Which means that I never got scammed, and none of the coins or tokens that I invested dropped more than the bear market levels neither.

So, I have always been a pretty risk-free investor and never regretted any decisions I made. Of course I had periods when my investment fell, but that wasn't really out of ordinary during the bear market, aside from that I have been pretty close with what the market movements has been like.

[Kelward]

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.

Investment in altcoins is a gamble, because you don't know the ones that'll still remain relevant in the long run and have a massive pump to give you returns on investment, or the ones that'll not reach their full potentials and be dead with your investment capital. So to minimize risks I'll always advice any investors to buy top altcoins that have built reputation in the crypto market, even when their prices dips, they won't vanish, only a matter of time and they'll to start pump again, just like Bitcoin. If an investor must take their chances to buy tokens for quick profits on the short term, then it's important for them to diversify their investment capital into the different projects that they've researched, so if one doesn't give profit the other will.

[Obim34]

His not the first neither the last, it has been happening for a long time and we all had painful experience which I don't believe will happen once again to me. When holding Altcoins, what we get as return of investment is never assured even If it flows with hype and trend, we just have to keep holding, it may take a longer time to happen or it may not at all, the risk factors are high so don't expect much till it happens.

[Bitstar_coin]

Yelp, and the lesson is - never ever buy at the top or fomo in especially when the market is about to go into the bear season. Altcoins are mostly seasonal investment not long term from the experience i have hard.
We are coming close to another bull circle, there are so many new alts already flooded the market and you can see the attention of investors has mostly shifted from the old alts to new and fresh alts who have not yet had opportunity to pump to a certain price level. Imo, most old alts will not be able to achieve previous ath this bull season. The competition is getting higher. It will be better to focus more on the market trend to make the most of this season, no loyalty to any project.

[Volimack]

Altcoins had a tough time getting started with entering the crypto world. At that time there was very little knowledge of market relations and it was not possible to verify which coins were correct. Altcoins all look good at the beginning after investing it is understood that the scam coins do not rise to the top. Currently there are many good altcoins in the market although they are high risk and give good returns if you keep them for a long time.

[Natsuu]

Altcoins had a tough time getting started with entering the crypto world. At that time there was very little knowledge of market relations and it was not possible to verify which coins were correct. Altcoins all look good at the beginning after investing it is understood that the scam coins do not rise to the top. Currently there are many good altcoins in the market although they are high risk and give good returns if you keep them for a long time.

Right. Back in the day, Altcoins were a wild ride with not much clarity on what's legit. Scams were everywhere. Now there are some good ones but yeah it's a risky game. Holding for the long haul might pay off but you gotta tread carefully

[avp2306]

Altcoins had a tough time getting started with entering the crypto world. At that time there was very little knowledge of market relations and it was not possible to verify which coins were correct. Altcoins all look good at the beginning after investing it is understood that the scam coins do not rise to the top. Currently there are many good altcoins in the market although they are high risk and give good returns if you keep them for a long time.

Right. Back in the day, Altcoins were a wild ride with not much clarity on what's legit. Scams were everywhere. Now there are some good ones but yeah it's a risky game. Holding for the long haul might pay off but you gotta tread carefully

Even now there's lot of scams keep coming its because some of those scammers know that there are so many people look for new token to invest since they think this can give them big profits that's why we can't see those scams never put at end. Although we can see some of good crypto but there's only few of them and its hard to find to see them. That's why its hard to hold altcoins since we don't know if we can make a profit or we just got break due to uncertain loss that we don't see it to happen.

If you people into altcoins much better for them if they use their brain and common sense to determine on when to sell and accumulate so that they will not join on people got FOMO and can always get a profit once there's a chance to execute our sell orders.

[God bless u]

I think everybody here must have gone through some tragedies in the trading market. Investing in altcoins with high amount of risk and not a deep research is something that almost every newbie does and after having a loss they realise that trading is not that much easy.Then they either quit it or become smarter and wiser with their decisions.

It's not something to be ashamed of but if one doesn't learn from one experience and continues to make mistakes then it's a serious point to ponder. We have to make ourselves realise that we are wrong and then work on ourselves to make the wrongs right.

[LogitechMouse]

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WHO AMONGST US HAD ALTCOINS THOUGHT A HARD LESSION IN THE PAST.

Well, that story (if it's true) is a roller coaster kind of experience.
He regretted investing in altcoins at first, then he wants to invest in it again.

As for me, I can't say it is that hard lesson because I believe experienced way harder than what I experienced, but I guess the hard lesson that I learned is "Don't invest, and hold meme coins for a long time." I didn't get scammed with a huge amount of money in my long time being involved in cryptocurrency, and luckily I didn't get hacked either. It's the meme coins that got me when I tried to invest in some meme coins out there. I didn't expect too much on it because, after all, it's a meme coin, but what I didn't expect is how fast that coin went down since I bought some of it. To cut the story short, I lost almost all of my capital on it (I think I lost around 90%).

Well like I always said, we need to learn from every mistake that we are making especially when it comes to investing. Currently, I don't invest in meme coins because I don't want it, but because we are nearing the bull season, I might invest a few bucks just to ride the hype of it.

[redsun114]

Op, the story of your friend is a bit interesting but from what I understand the story is that, your friend is a greedy trader. Though having patience pays alot but when we are not 100% guaranteed that the coin is trust worthy what's the reason to still have faith in the coin when things are going bearish? I don't buy altcoin for holding and that because of instances like this, when I believe in something, I hardly let go and that why I will never cease to adopt Bitcoin more and more. But what I don't get is, after your friend must have left altcoin investment, he should have focused on Bitcoin alone and use all that he has for investment to boost his Bitcoin portfolio, if he had done that, he wouldn't be regretting after seeing the current pump in price of some altcoins, because Bitcoin alone will bring enough profit and satisfaction.

In life, there are no guarantees as they say and so as in investing or trading a crypto. This is why all are only taking a risk here and it's up to you if you will elevate your risk by continuing to HODL longer. You can still be compensated huge, if in case you are right with your decision. Bearish conditions may only be normal and even the best coins can experience it too.

There are still great altcoins out there, so I won't judge them completely and in fact, they also had a big contribution to Bitcoin and to the overall crypto market. There's just people who don't like Bitcoin for some reasons and sadly their decisions may not ever change no matter how hard we convince them.

[strunberg]

I think everyone has made bad calls in the past, even with all the prizes going up like crazy I am still in loss on a bunch of altcoins I bought years ago; on some of them I still have -80% (filecoin, the graph,…). Best call I made was probably buying some ETH when it was at 500$.

I also experienced losses on the hyped Metaverse and meme coin projects in 2022 where at that time I bought SAND, MANA, VRA, Shiba and Doge and hoped they could give me profits of up to hundreds of percent. But what I'm holding right now is a token with a loss of -90%. This is an important lesson for me not to be tempted by altcoins if you are not a trader and want to protect your assets. I'm the same as you. I bought ETH in 2022 for $1,100 and I still hold it to this day. It was my hope to get back the money I lost to those damn altcoins.

[Yatsan]

I had it with meme coins, in particular with DOGE. I quite got thrilled with the hype which made me invest a huge amount in comparison with my other crypto holdings for years. Unfortunately, a crash happened which really made me suffered from huge temporary loss that time. Good thing is that I never had thought of selling early and just continued holding. Right now meme tokens are on the run and I somehow and thanfully recovered from that loss. However, it still left me with a beginner lesson to not invest an amount which will make me question my decision. The market itself is volatile and what goes up surprisingly will eventually fall.  Meme tokens are profitable but more risky in my perspective. As we all know there's no specific usage of most of it and often being manipulated by big investors. If you are into meme coins then that's fine as long as you are able to manage the risk and to avoid not putting a stoploss to safeguard yourself from huge loss.

[DeathAngel]

I am mostly invested in Bitcoin, literally over 95% of my cryptocurrency holdings. I have, over the years messed with altcoins though of course. I have been taught many hard lessons with altcoins. They are a far less guaranteed  thing than Bitcoin. I’ve bought the tops of certain coins & been rug pulled.