Alt coin controversy

[Cryptohygenic]

I and a friend distance friend recently realized that we are crypto enthusiast and while my friend focus on trading, I'm focused on hodling with our visions and knowledges differs.
Learning about our exposure to the digital currency had even made our friendship closer because as the market is still facing low global adoption, it's very generous finding one closer to you haven been in the system too. So we could really share bitcoin and crypto discussions based on experience andamarket speculations.

So this my friend was expressing regrettably of him buying a strange alt coin when newly launched and it was doing well not until bitcoin price began to be manipulated or affecting by the price falls on bitcoin.
So he was asking me if will Btc rise at a specific price and at a time and if he can sell And I told him breaking the expected price is posible but having that occurrence with the given specified time frame is what is not imposing.

This has come to my understanding how people are tracking the price of alt coins of their interest with the value and speculations of bitcoin. He also complained how he had lost about $9,000 at the course of the bitcoin market.

[Karl_3000]

Your friend is trading? It is better you advise him to stop so that he will not miss the coming bull run. The time to halving is still long, he can still gather money together and DCA, average and lump sum.

Trading is more like gambling, he should stop it or only do it with small amount of money which he can afford to lose just like small amount of money that he can use to gamble and lose.

Yes, bitcoin is a very good coin that he can invest on, he should be expecting at least x2 to x2.5 profit or probably more in the next bull run. He can use 70% for bitcoin, 30% for altcoins. From the 70% for bitcoin he should hold 25% for lifetime so that his children can inherit it. 30% of all the altcoins shold be sold when they rise because their fall will be very bad.

[Luzin]

Yes, bitcoin is a very good coin that he can invest on, he should be expecting at least x2 to x2.5 profit or probably more in the next bull run. He can use 70% for bitcoin, 30% for altcoins. From the 70% for bitcoin he should hold 25% for lifetime so that his children can inherit it. 30% of all the altcoins shold be sold when they rise because their fall will be very bad.

Many altcoins only exist to make a profit by coming and then going, not held for a long period. Therefore, research when trading is a must. At the very least, if you want to hold long-term, choose bitcoin and then altcoins that have proven to be able to survive. Then allocate your funds for other altcoins to come and go quickly. This is what I also do, losses are part of the risk of trading in crypto. So, there is no need to regret those who can learn can at least recover their lost funds and even gain more profit.

[SatoPrincess]

Your friend is trading? It is better you advise him to stop so that he will not miss the coming bull run.

You sound as if trading is a bad thing. If you know what you’re doing and disciplined enough to handle the market risks, then there is a chance that you can be profitable. The problem is people see the so called crypto traders on the internet with flashy cars and assume that trading must be an easy way to make money. The reality is that it’s not. You’re right about one thing though, the safest strategy for investors still remains hodling.

[NeuroticFish]

This has come to my understanding how people are tracking the price of alt coins of their interest with the value and speculations of bitcoin.

For many altcoins, in order to buy, you may need first to buy Bitcoin, or a stable coin. Tracking gain/loss vs Bitcoin price is not uncommon, although it's the "what if" (what if I would have kept bitcoin) mentality, which is somewhat unhealthy (the world is moving forward; if one makes a decision, just live with it and move on).

If you look at the altcoins, there are not that many new and useful features they come with, so it's clear that a huge number of them are there only for short term profit.
One has to understand clearly all this and the effect on trading. Sadly most gamble-trade and, while it can bring nice profit for a while (if entering in the right time), it is still very risky if one doesn't know what he's doing.

Crypto industry is not the get rich quick scheme many think it is. The money is there, but one has to be smart, lucky and not overly greedy to make the right choices.

[HajiBagi]

Your friend is trading? It is better you advise him to stop so that he will not miss the coming bull run. The time to halving is still long, he can still gather money together and DCA, average and lump sum.

Trading is more like gambling, he should stop it or only do it with small amount of money which he can afford to lose just like small amount of money that he can use to gamble and lose.

Yes, bitcoin is a very good coin that he can invest on, he should be expecting at least x2 to x2.5 profit or probably more in the next bull run. He can use 70% for bitcoin, 30% for altcoins. From the 70% for bitcoin he should hold 25% for lifetime so that his children can inherit it. 30% of all the altcoins shold be sold when they rise because their fall will be very bad.

I believe that the friend has already advised him before and even if he did not advise him the one that is into trading will know that is doing something risky and gambling, as far as he knows that his friend is into bitcoin he will know that trading is not a good thing to do but some people are very stubborn and will never listen to you when you try to advise them, i have advised many of my friends who are into trading and buying of altcoins and they did not listen to the extent that one is telling me that i am jealous of him.

When it comes to crypto some people deserve to be advise and some people did not deserve to be advise because they know the truth and understand the risky in trading but they will choose to trade because they think they can not hold bitcoin for a long time, when i see a full grown person that knows about bitcoin and still decides to take risk by using money to to do another i will pretend like i did not see the person because i don’t want to be blame because some of them got panic when they see the price of bitcoin going down.

[Don Saga]

Altcoins are known for quick profits or quick loss, that shows the level of risk involved in trading altcoins because they lack structure and are easily influenced by hype or manipulated by big banks.

There are a few altcoins that could be worthy of investment like Ethereum, Solana, Dogecoin, Cardano, etc as they mostly have their own blockchain so he should rather make proper research on altcoins before investing and not make decisions based on social media hype.

[sunsilk]

So this my friend was expressing regrettably of him buying a strange alt coin when newly launched and it was doing well not until bitcoin price began to be manipulated or affecting by the price falls on bitcoin.

By doing this, he might have been trying to eye those new projects that can pump in the beginning of its launching days.

But not everyone goes well for this anymore and the bear market contributes to whether these newly launched coins will be successful or not.

This has come to my understanding how people are tracking the price of alt coins of their interest with the value and speculations of bitcoin. He also complained how he had lost about $9,000 at the course of the bitcoin market.

We are investors and it's a common thing to track the prices of the investments we have for bitcoin and altcoins that we own.

And that's a lot of money for him to recover and I wish him that soon with his holdings, that can cover up his losses once the market rebounds.

[fullfitlarry]

So this my friend was expressing regrettably of him buying a strange alt coin when newly launched and it was doing well not until bitcoin price began to be manipulated or affecting by the price falls on bitcoin.

That is the keyword there, strange? maybe it's a meme coin. And we all know that they are just pure hype and pump and dump and manipulation. It has nothing to do with Bitcoin market and manipulation.

This has come to my understanding how people are tracking the price of alt coins of their interest with the value and speculations of bitcoin. He also complained how he had lost about $9,000 at the course of the bitcoin market.

I do hope that he learn his expensive lessons here. $9,000 is a big money for most of us here and if we ever lose that money, then something is wrong. Not advising, but it could have been better for your friend if he put that money into Bitcoin.

[jcojci]

Trading is not easy so your friend must have skills to analyze. If he doesn't have much time to learn trading, you can suggests him to buy and hodl. That will works good for him because he doesn't have to analyze the price but only buy according the time he set.

He can follow your step but you should teach him the step. Buying altcoin is risky since he need to analyze to find the right coin and not all coin he buy can gives profit. If he buy and hodl Bitcoin for certain time, he could makes a nice profit in the future.

[Marvelockg]

This has come to my understanding how people are tracking the price of alt coins of their interest with the value and speculations of bitcoin. He also complained how he had lost about $9,000 at the course of the bitcoin market.

Holding an altcoin the same way bitcoin investors holds Thier bitcoin is one of the riskiest thing and investor or to put it the right way, a trader will ever consider doing. With bitcoin, you can buy and let it stay for long and even if the price comes down, you're still certain of a recovery but that's completely far from what's the case with an altcoin.

Altcoins and meme coin are something you get involved in on a temporary basis just like how you go about gambling and don't neccesarily have to monitor the price movement of bitcoin with the hope that it will have a direct effect on the way altcoins react. You can't compare investment to trading because trading demands a lot of guts and the ability to bear the loss that will eventually come with it.

[hugeblack]

As an indicator, we can say this is true, but the altcoins index represents several million cryptocurrencies. Therefore, the further we move away from the top 10 altcoins, the more difficult it becomes to predict their direction, as their price movements will be random or dependent on the available liquidity. Investing in such tokens/coins is foolish.

[Kelward]

Many influencers hype many altcoins as if they are guaranteed investments to change your life and if you're not careful you will put a lot of money into them and lose everything if you didn't time your exit very well. There are more scam altcoins than there are genuine projects so you're in the market to make profit from the token that you're holding while the devs are planning on when to exit and the project will die. A lot of people are losing money in altcoins that they are holding like Bitcoin, they don't know that these shitcoins don't have what it takes to recover because their creators have intentions to use them to scam the holders.

Crypto trading is risky so it's not for everybody, if you don't have what it takes to understand the technical and fundamental aspects of it then you should simply buy and hold Bitcoin for the long term. If you are comfortable with buying any altcoins you should do yourself a favor by using small amounts because it might not live to maturity when you want to take your ROI.

[noorman0]

Altcoins also have specific fundamental factors apart from following global market trends. In general, they only have a low adoption rate compared to bitcoin, this has an effect on total liquidity to keep price movements within expectations. The internal team situation also greatly contributes to the level of trust in its community.