My Early Experience With Altcoins

[Wakate]

I recently shifted some focus from Bitcoin to altcoins. In the beginning, I chased hype and it didn’t go well. The times I did better were when I slowed down, read about the project, and made my own decision instead of following noise.

It feels like patience pays more than hype-chasing in this space.

You were not doing wrongly at first for chasing hype, it just that you weren't lucky enough to meet the right one. Most of the altcoin that usually takes time to perform well are the layer 1 blockchain based coin, if you focus more on them and be patient with it, you'll definitely make massive profits enough.

Getting lucky  investing in good altcoins projects can fade also which is why we don't have to rely too much on altcoins market because it is very hard to differentiate the good projects from the bad ones due to so many scam projects in the market, ready to crash the price when they have gotten the number of buyers they want.

Investing in Bitcoin is the only safest way to stay profitable even though have been so many speculations investors can make bigger profits in the crypto market without waiting for too long. Op made the mistake to think that there is huge profits waiting for him in the altcoins market which was not.

[Odusko]

I recently shifted some focus from Bitcoin to altcoins. In the beginning, I chased hype and it didn’t go well. The times I did better were when I slowed down, read about the project, and made my own decision instead of following noise.

It feels like patience pays more than hype-chasing in this space.

You did yourself a great deal by observing quickly that following altcoins based on hypes will only leave you broke with tons of dumped and shit coins in your portfolio, but if you do your own research and pick based on your research results and prioritize quality over quantity you be making a good decisions along the way since altcoins is already risky and high volatile, is important to them act in a way that reduces your risks of losing from hypes sold out coin, which eventually becomes shitcoins.

[happybitcoinph]

I recently shifted some focus from Bitcoin to altcoins. In the beginning, I chased hype and it didn’t go well. The times I did better were when I slowed down, read about the project, and made my own decision instead of following noise.

It feels like patience pays more than hype-chasing in this space.

There's nothing wrong with what you went through since you are in a research stage.

Now that you have been able to experience being in different scenarios, you should determine some other ways that might work for you. Shifting gears is normal as there are different trends in a market. Just build experience as you progress.

[danherbias07]

That's the right path that you are walking now.

It is true that most hypes doesn't last long, unlike Bitcoin and some popular altcoins that are now in their position because of being in the business for a long time. They crawled through ups and downs and remained strong, which is why they are now popular for their reputation and trust.

Keep it up, and you will somehow pick the right Altcoin that will make you profits in the future. Don't believe the hypes, especially if it is a month ago or more.

[Wakate]

I recently shifted some focus from Bitcoin to altcoins. In the beginning, I chased hype and it didn’t go well. The times I did better were when I slowed down, read about the project, and made my own decision instead of following noise.

It feels like patience pays more than hype-chasing in this space.

You did yourself a great deal by observing quickly that following altcoins based on hypes will only leave you broke with tons of dumped and shit coins in your portfolio, but if you do your own research and pick based on your research results and prioritize quality over quantity you be making a good decisions along the way since altcoins is already risky and high volatile, is important to them act in a way that reduces your risks of losing from hypes sold out coin, which eventually becomes shitcoins.

Hype is what controls the market and we could lose more money when we depend on hype to invest in the market. There are investors that understand how hype works and they will never invest in a project that has been hyped allowing the price to skyrocket so that more newbies can invest in it, indirectly buying at the top.

It is better to invest in an altcoins before the hype so you can buy at a very low price and when the hype commenced, you can start counting your profits while waiting for when the hype will be over so you can  cashout big while the ignorant ones would be stocked at the top.

[Odusko]

Hype is what controls the market and we could lose more money when we depend on hype to invest in the market. There are investors that understand how hype works and they will never invest in a project that has been hyped allowing the price to skyrocket so that more newbies can invest in it, indirectly buying at the top.

It is better to invest in an altcoins before the hype so you can buy at a very low price and when the hype commenced, you can start counting your profits while waiting for when the hype will be over so you can  cashout big while the ignorant ones would be stocked at the top.

Those projects owner's I mean the memecoins developers knows about the traffics hypes can generate to their projects, so they spend a lot of money on pushing that hype out to the public, so as to get what their want in the end, most especially memecions market have been based on hype alone even without ecosystem, what the sell to investors is just the hype and once the hype due down, the coin drastically dump is a trend we are already used to.

[GeorgeJohn]

I recently shifted some focus from Bitcoin to altcoins. In the beginning, I chased hype and it didn’t go well. The times I did better were when I slowed down, read about the project, and made my own decision instead of following noise.

It feels like patience pays more than hype-chasing in this space.

Making your own decision for cryptocurrency investment especially altcoins is more better than following a somebody's description for cryptocurrency investment, it is better for you to make your findings and understand the kind of altcoin that you want to invest on by making your own research, it will give you courage to invest in altcoin of your choice

But the major thing is that investing in altcoin you have to be very careful and the low very well that is not a wise idea for someone to hold altcoin for long time it will be better for you to have it duration of holding altcoin so that the coin will not die on the process of holding it.

Secondly do not lose focus on bitcoin investment because bitcoin is one of the coins that you will invest on today and the desperate the downfall of Bitcoin at that moment you will still make profit if you continue holding it, so it is obvious that bitcoin is more volatile than any of the altcoins, but the different is that if you luckily invest in altcoin and at the period the altcoin survive, you will make profit altcoin than holding a bitcoin...so in summary hold a coin wisely.

[Dunamisx]

I recently shifted some focus from Bitcoin to altcoins. In the beginning, I chased hype and it didn’t go well. The times I did better were when I slowed down, read about the project, and made my own decision instead of following noise.

It feels like patience pays more than hype-chasing in this space.

For those that have started in cryptocurrency before now, if we have the privilege of getting across to them, then they are going to share in more to what they have experienced right from time to this days, I have also learnt to be patient in cryptocurrency, not only that, but learning while observing things and how they are being done, so that we don't make mistakes we could have prevented if we had been experience in what we do, that is why we may have to take some time before starting with investment in cryptocurrency.

[Wakate]

I recently shifted some focus from Bitcoin to altcoins. In the beginning, I chased hype and it didn’t go well. The times I did better were when I slowed down, read about the project, and made my own decision instead of following noise.

It feels like patience pays more than hype-chasing in this space.

For those that have started in cryptocurrency before now, if we have the privilege of getting across to them, then they are going to share in more to what they have experienced right from time to this days, I have also learnt to be patient in cryptocurrency, not only that, but learning while observing things and how they are being done, so that we don't make mistakes we could have prevented if we had been experience in what we do, that is why we may have to take some time before starting with investment in cryptocurrency.

Whether you have been in the crypto market for so many years or you have invested in so many crypto projects in the market, all these moves are to make more money with our capital and it wouldn't make sense when we try to over do things in a way that will affect us and bring more loses to us. Every Investor must have that patient not to rush and invest in projects that will never be profitable at all..
I normally scrutinize crypto projects before investing in them because of so many scam projects in the market to steal from us.

[GeorgeJohn]

I recently shifted some focus from Bitcoin to altcoins. In the beginning, I chased hype and it didn’t go well. The times I did better were when I slowed down, read about the project, and made my own decision instead of following noise.

It feels like patience pays more than hype-chasing in this space.

There's nothing wrong with what you went through since you are in a research stage.

Now that you have been able to experience being in different scenarios, you should determine some other ways that might work for you. Shifting gears is normal as there are different trends in a market. Just build experience as you progress.

Yes their nothing wrong taking another step for investment process especially going into altcoins, at least we have to understand that altcoins is not trustworthy coins despite that theirs no coins that is trustworthy, but in altcoins we have to take adequate precautions because a lot of people get loss whenever they invest wrongly in altcoins

At least we have to make a research knowing that many altcoins have short-term life-span, so holding altcoin for long-term is very risky indecencies that nobody knows the altcoins that will die on the process and it hardly to know the one that may likely survive little duration of bear season

[Joy- maker]

I recently shifted some focus from Bitcoin to altcoins. In the beginning, I chased hype and it didn’t go well. The times I did better were when I slowed down, read about the project, and made my own decision instead of following noise.

It feels like patience pays more than hype-chasing in this space.

Exactly patient pay more than hype chasing, I have once followed hype or chased hype before and gest what it didn't end well for me I lost all my funds till date. So as a beginner who is just coming into this crypto space I will advise you just focus on the ongoing buying of bitcoin until you accumulate a good portion of bitcoin  and then hold for long term 4 to 10 years or longer, instead wasting your time, energy and resources buy altcoins (shitcoins) that are no store of value with potential returns like bitcoin.

[Jubilee58]

I recently shifted some focus from Bitcoin to altcoins. In the beginning, I chased hype and it didn’t go well. The times I did better were when I slowed down, read about the project, and made my own decision instead of following noise.

It feels like patience pays more than hype-chasing in this space.

I had this same experience in 2021 when a friend of mine told me about the memecoin Shiba Inu, he said the coin was doing well that i should invest in it, indeed Shiba Inu did well, it turned little investment into huge profit. I invested the little money I had,  and by this time , it was already towards November 2021 and it was too late for me and my investment yielded no significant profit.

Altcoin investment requairs experience, seek the opinion of the experts, and make your research properly in other to know the right altcoin to invest and when to invest, otherwise you will likely loose your money!

[EarnOnVictor]

It feels like patience pays more than hype-chasing in this space.

-snip-
So, what can you say about this?

I don't think anyone would deliberately be interested in coins/tokens for the sake of hypes, it's uncertainty that's making us go for hyped coins, with the mind that if some fails, others would be worthwhile.

As you complain about hyped coins you bought, others are happy about theirs, as they might have easily gained 10x in some, such is life. We are all taking risks, but luck shines on us more than each other.

The irony now is that if you do it the opposite next time, it might happen the other way around, so nothing is perfect in investing, so let's blame ourselves or our approach a little but ensure we do not invest in bad coins.

[Y3shot]

I recently shifted some focus from Bitcoin to altcoins. In the beginning, I chased hype and it didn’t go well. The times I did better were when I slowed down, read about the project, and made my own decision instead of following noise.

It feels like patience pays more than hype-chasing in this space.

When going into altcoins, it is good to take your time and do research to understand the project you want to invest in. If you invest in altcoins based on hype, you may be going the wrong way, and because of this, many people have lost money in the wrong projects.

Altcoins are not always reliable investments, and if you choose to invest in any of them, you must be sure about it. One thing to keep in mind while investing in altcoins is to invest only an amount that you can afford to lose, because anything can happen.

[Promocodeudo]

Exactly patient pay more than hype chasing, I have once followed hype or chased hype before and gest what it didn't end well for me I lost all my funds till date. So as a beginner who is just coming into this crypto space I will advise you just focus on the ongoing buying of bitcoin until you accumulate a good portion of bitcoin  and then hold for long term 4 to 10 years or longer, instead wasting your time, energy and resources buy altcoins (shitcoins) that are no store of value with potential returns like bitcoin.

Good advise dude and bad experience, although the experience you had, is what happens when newbies arent ready to learn or keep to the rules but one thing we must know is that thing like this will continue to happen because some newbies aren't ready to learn, some newbies mindset are the reason why they fall victim to some trash, if not why will anyone fall victim to those overhyped projects when Bitcoin is there, although sometimes I won't blame newbies too because when you're new to a particular space sometomes things gets messy for you reason being that you don't know how to navigate your way around, your advise for newbies to buy Bitcoin with such strength they will want to invest in unrealistic project is nice but the holding should be atleast from 8years upward which is 2cycles.

[Odusko]

I recently shifted some focus from Bitcoin to altcoins. In the beginning, I chased hype and it didn’t go well. The times I did better were when I slowed down, read about the project, and made my own decision instead of following noise.

It feels like patience pays more than hype-chasing in this space.

Your first mistakes was to shift attention from Bitcoin to altcoins and for that reason you open yourself up for more volatilities, cryptocurrency like Bitcoin are more stable as an asset because even though volatilities happens to all the coin, the rate as which it effects Bitcoin is far different from the way other coins will react, most especially those in the memecoins categories.

[JamesDaniel90]

I recently shifted some focus from Bitcoin to altcoins. In the beginning, I chased hype and it didn’t go well. The times I did better were when I slowed down, read about the project, and made my own decision instead of following noise.

It feels like patience pays more than hype-chasing in this space.

Your first mistakes was to shift attention from Bitcoin to altcoins and for that reason you open yourself up for more volatilities, cryptocurrency like Bitcoin are more stable as an asset because even though volatilities happens to all the coin, the rate as which it effects Bitcoin is far different from the way other coins will react, most especially those in the memecoins categories.

It’s not a mistake. Bitcoin will maybe increase another 50% by end of year while many top altcoins will 5x , 10x even 20x by end of year.

Altseason is coming in next month or two, you don’t want to be mainly in Bitcoin when that happens.

[Odusko]

It’s not a mistake. Bitcoin will maybe increase another 50% by end of year while many top altcoins will 5x , 10x even 20x by end of year.

Altseason is coming in next month or two, you don’t want to be mainly in Bitcoin when that happens.

I agree that we will have alts season in the future, but that doesn't elude us the fact that some alts will go from +x to -x so while you are expecting some altcoins to do a 10x, 20x and the rest, you should note that not all of them will do that a majority of them will even go in the negative direction, so we need to be very skeptical about choosing altcoins.
Let say a few of them are worth holding, but then which one it will be, we don't know yet, so we need to be very careful when we choose them.

[SOKO-DEKE]

I recently shifted some focus from Bitcoin to altcoins. In the beginning, I chased hype and it didn’t go well. The times I did better were when I slowed down, read about the project, and made my own decision instead of following noise.

It feels like patience pays more than hype-chasing in this space.

I don't think that Bitcoin was really hype, but it is the best coin in the cryptocurrency industry now, and I think it’s always going to be. So, I don't think there is any altcoin someone can use to compare to Bitcoin.your point might just be that you're not satisfied with the way Bitcoin's price has been moving. Maybe you're looking for a token that will give you 5x or 10x returns within a short period of time and I always think that will be very hard to get currently. It’s only memecoins that are giving people such profits, and most memecoin projects are pump-and-dump schemes.

If someone is not careful, they might invest in one that dies after one-time pump because the team will dump it.If we should talk about Ethereum, BNB, and Solana their prices have not pumped like Bitcoin sofar. as someone who doesn't have deep knowledge about Bitcoin, I would not advise such to invest in any other project besides Bitcoin, because it's the coin that involves less risk.

[GigaBit]

I recently shifted some focus from Bitcoin to altcoins. In the beginning, I chased hype and it didn’t go well. The times I did better were when I slowed down, read about the project, and made my own decision instead of following noise.

It feels like patience pays more than hype-chasing in this space.

A big problem for new investors is that they do not understand which coin to buy and in this case they must be suggested the top altcoins. Especially if they invest in projects like Ether, Solana and BNB, their investment will be safe and if they choose any other altcoins, there is a high chance of losing. Before choosing a project, it is important to understand the real potential of that project. When investing, you should not invest all your money at once. Investing 70 percent of the total investment in the top altcoins and then investing 30 percent in other projects will reduce the risk.