To buy or not to buy?

[arwin100]

If we look at the period from the low of the last cycle to last year’s ATH, the BTC price pumped almost 8x. At the same time, the XRP price pumped x11 at its peak during the same period, which certainly exceeds BTC growth but is not enough to make XRP a more preferable asset than BTC from a long-term investment perspective.

Altcoins have higher growth potential due to their "unpredictability". I mean, Bitcoin is also unpredictable. But altcoins are worse. They're subject to higher fluctuations in market price. The same way you can make a lot of money with alts, you can also lose everything in an instant. XRP gives you good, short-term returns. I wouldn't trust it for the long term, because of its centralized design. There's always the risk of a single point of failure.

Ethereum, Monero, and Litecoin are better options, imo. The market recently turned bullish due to a weakening USD and other economic factors. Better buy prominent alts for long-term profits. If you held alts before the recent "pump", you'd consider yourself lucky. It's all a game of chance, anyways.

Altcoins do really have great potential for possible big upsides like gaining quick profit, but the downside for acquiring it is everything is so fast and unstable

Traders usually  buy those coin could either hit a jackpot or maybe lose their capital. I also agree on your sample, since XRP is quiet questionable to handle. Knowing its semi centralized nature which make this coin risky to hold for long term.

If we point out the other alts you have mentioned like LTC, XMR and ETH they actually have sense to hold on for long term, if we compare it on XRP. But still what people also need to understand is if they choose to hold alts they are not safe for another huge risk. If they caught those pumps, maybe they can be called lucky. Timing really play big role when dealing with those alts.

[$crypto$]

I decided to sell a chunk of my Solana stack today. $102 was just too enticing after stacking in the 60s just a short time ago. Will see if I end up regretting that or not. I am sort of thinking we’re in a bull trap right now and will liquidate leveraged longs one last time before the major bull run, but I didn’t want to sell any of my BTC so I decided to take some SOL profit just in case.

Profit is over 40% with buy in the $60 range and sell price range now, so it's a good decision rather than waiting above $200 having to wait even longer.
Bullish trap, I think this can be true, because at the end of the month ended at a good price despite the fact that a few years earlier August was considered bad for the altcoin market.
In the next month, being a question mark, it could be that there will be a drop in altcoin prices back 30% that could be a good opportunity again.

[Doll2233]

Altcoins do really have great potential for possible big upsides like gaining quick profit, but the downside for acquiring it is everything is so fast and unstable

Traders usually  buy those coin could either hit a jackpot or maybe lose their capital. I also agree on your sample, since XRP is quiet questionable to handle. Knowing its semi centralized nature which make this coin risky to hold for long term.

If we point out the other alts you have mentioned like LTC, XMR and ETH they actually have sense to hold on for long term, if we compare it on XRP. But still what people also need to understand is if they choose to hold alts they are not safe for another huge risk. If they caught those pumps, maybe they can be called lucky. Timing really play big role when dealing with those alts.

I agreed with this partially because, due to enough scam altcoin projects, things are going worse, but if devs are able to bring good solid projects with good use cases, these can bring good changes in altcoins. Just a few are having good potential and also giving good returns to investors, but most are having things on the lowest level; just because of this, now people are not interested in investing in these altcoins.
Many coins were have good potential but sadly their teams are not able to perform like they started and also have their projects in start this also hurt badly confidence of peoples now things are getting worst after every failure project thousands altcoins are registered but they are not able to do if in coming days things are not change most chances this could be have worst for this market in long run.

[WatChe]

Profit is over 40% with buy in the $60 range and sell price range now, so it's a good decision rather than waiting above $200 having to wait even longer.
Bullish trap, I think this can be true, because at the end of the month ended at a good price despite the fact that a few years earlier August was considered bad for the altcoin market.
In the next month, being a question mark, it could be that there will be a drop in altcoin prices back 30% that could be a good opportunity again.

It was ideal time to buy alts when OP started this thread back in Jun 27 and now its ideal time to sell alts for those who bought it earlier when prices were down and out. Bitcoin price for last 2 to 3 days is around 78k and is not trying to break the resistance of 80k. This is just an indication that price might go down in coming days and if Bitcoin goes down them alts have no other option but to go down as well. If prices go down then those who fell in this bullish trap have to wait for sometime to get out of this trap.   

[Odusko]

Profit is over 40% with buy in the $60 range and sell price range now, so it's a good decision rather than waiting above $200 having to wait even longer.
Bullish trap, I think this can be true, because at the end of the month ended at a good price despite the fact that a few years earlier August was considered bad for the altcoin market.
In the next month, being a question mark, it could be that there will be a drop in altcoin prices back 30% that could be a good opportunity again.

It was ideal time to buy alts when OP started this thread back in Jun 27 and now its ideal time to sell alts for those who bought it earlier when prices were down and out. Bitcoin price for last 2 to 3 days is around 78k and is not trying to break the resistance of 80k. This is just an indication that price might go down in coming days and if Bitcoin goes down them alts have no other option but to go down as well. If prices go down then those who fell in this bullish trap have to wait for sometime to get out of this trap.   

Anyone that have the experience of the altcoins market will know that their are not suitable to hold for long and for that as long as the ops already confirmed that at the time he bought and now he have made profit from his possession he should not become too confident that the new month of September will be as bullish as August even though August was usually not favorable for altcoins as acknowledged from previous years experience, now most coins are up along with Bitcoin which makes this time the best time to sell.

[abaeze]

I agreed with this partially because, due to enough scam altcoin projects, things are going worse, but if devs are able to bring good solid projects with good use cases, these can bring good changes in altcoins. Just a few are having good potential and also giving good returns to investors, but most are having things on the lowest level; just because of this, now people are not interested in investing in these altcoins.
Many coins were have good potential but sadly their teams are not able to perform like they started and also have their projects in start this also hurt badly confidence of peoples now things are getting worst after every failure project thousands altcoins are registered but they are not able to do if in coming days things are not change most chances this could be have worst for this market in long run.

You're right, in addition, in the crowd of numerous altcoins, it is very difficult for an ordinary investor to understand which projects have real utility and which ones are just based on hype.

Many projects initially show excellent roadmaps, development and marketing, but later development slows down, team activities decrease and promised products are not implemented. This has a negative impact not only on that specific coin but also on the entire altcoin market. So until such problems are solved, the situation will continue like this.

[WatChe]

Anyone that have the experience of the altcoins market will know that their are not suitable to hold for long and for that as long as the ops already confirmed that at the time he bought and now he have made profit from his possession he should not become too confident that the new month of September will be as bullish as August even though August was usually not favorable for altcoins as acknowledged from previous years experience, now most coins are up along with Bitcoin which makes this time the best time to sell.

The bitcoin price has already started moving side ways and we are not sure whether price will show same patten in coming month or not. The rule for alts, especially the newly launched is that we must sell them as soon as we see decent profit on them. The new alts usually go up once in there life and we need to catch that moment to book our profit otherwise our investment may got struck forever. Having said that there are few top alts like Ethereum which we can consider for long term investment.

[dwyane36]

The bitcoin price has already started moving side ways and we are not sure whether price will show same patten in coming month or not. The rule for alts, especially the newly launched is that we must sell them as soon as we see decent profit on them. The new alts usually go up once in there life and we need to catch that moment to book our profit otherwise our investment may got struck forever. Having said that there are few top alts like Ethereum which we can consider for long term investment.

Speaking of new alts, it’s worth noting that a certain pattern has emerged in the market over the past year. After being listed on exchanges, some of them crash almost immediately and then hover at rock bottom for several months, likely while whales are buying them up, followed by a sharp pump and then another crash. This pattern is typical for altcoins where the majority of the supply is concentrated in a few hands.

[Marykeller]

Profit is over 40% with buy in the $60 range and sell price range now, so it's a good decision rather than waiting above $200 having to wait even longer.
Bullish trap, I think this can be true, because at the end of the month ended at a good price despite the fact that a few years earlier August was considered bad for the altcoin market.
In the next month, being a question mark, it could be that there will be a drop in altcoin prices back 30% that could be a good opportunity again.

It was ideal time to buy alts when OP started this thread back in Jun 27 and now its ideal time to sell alts for those who bought it earlier when prices were down and out. Bitcoin price for last 2 to 3 days is around 78k and is not trying to break the resistance of 80k. This is just an indication that price might go down in coming days and if Bitcoin goes down them alts have no other option but to go down as well. If prices go down then those who fell in this bullish trap have to wait for sometime to get out of this trap.   

Funny how the market is; not every altcoin that went down with Bitcoin will bounce back when Bitcoin pumps. You can be unlucky that some of the altcoins you invested in are finding it hard to return to their previous price when Bitcoin experiences a decrease.

Bullish trap: those who invested in Bitcoin are always in a better position than those who invested in altcoins. You can have the belief that Bitcoin will increase back to its previous high prices, but for altcoins, you can't be too sure of it.

[Abiky]

Funny how the market is; not every altcoin that went down with Bitcoin will bounce back when Bitcoin pumps. You can be unlucky that some of the altcoins you invested in are finding it hard to return to their previous price when Bitcoin experiences a decrease.

Bullish trap: those who invested in Bitcoin are always in a better position than those who invested in altcoins. You can have the belief that Bitcoin will increase back to its previous high prices, but for altcoins, you can't be too sure of it.

Only top-ranked altcoins in market cap, have a higher chance of "bouncing back" when Bitcoin "pumps". Although, this is not a guarantee. The thing with altcoins, is that most of them lack real use cases. They're speculative by design. Bitcoin can be used as both a currency and a store of value. Others are simply more of the same. Ethereum, and a small few are the exception.

In the case of ETH, it's one of the pioneering smart contracts platform in the crypto/Blockchain space. You can interact with the world of "De-Fi" in a seamless way. It may be slower and expensive than competing chains, but at least, it has the largest ecosystem of dApps, tokens, and services. I wouldn't miss adding it to my portfolio alongside Bitcoin. Monero is also a good option. Ultimately, you decide what to invest into. Do your own research to avoid losing it all in an instant. Just my two sats.

[OgNasty]

It seemed to me like we were getting a bit frothy so I took some profit on my SOL holdings over the last couple of weeks. I bought Apple gift cards with it to get a new iPhone next week. I do think prices will go higher long term, but this seemed like a good short term profit taking opportunity in a down market to me.