Post
Topic
Board Altcoin Discussion
Re: I lost half of my crypto amount! what to do?
by
xtraelv
on 08/08/2018, 05:59:11 UTC
The best way to return your money is to learn day trading techniques. Long-term investment in cryptocurrency is not highly recommended because cryptocurrency prices are very volatile and conversely short-term investments or day trading can be very profitable.

I would say the exact opposite.

Learn to identify when markets are driven by mania and when markets are worth buying into.

Use Bitcoin as your guide.

Don't exchange your good bitcoin for a shitcoin. Only buy it if you think it has something different or better to offer. (Not many coins reach that standard)

What does the coin have to offer in terms of innovation, development team, real world usage. How is it valued ? Look at the historic trends of the coin and that of symilar coins.

Buy it when it is low - then hold. The crypto market is young. Only buy quality coins. Hold onto them for a number of years not expecting to cash out.

Stay away from ICO tokens, HYIP coins, coins that get delisted from exchanges, coin-swaps, high pre-mines, lack of development, coin devs that refuse to admit their mistakes, pump and dump coins, lack of decentralization (exceptions are exchange tokens and tokens used for genuine business purposes)  or any other shady business.

Two types of coins will survive:
- those that will comply with legislation by Governments (as more regulation will be introduced) - Thus reputable, innovative and useful
- those that will withstand legislation by Governments - Thus private and decentralized.

I'm sure people made money day-trading Bitcoin. I know a few of them. Most of them sold their bitcoin when it was low and now regret it - as the bitcoin value went up they trade less and less in bitcoin quantity.  Their mindset is on fiat profit. Your aim should be increasing your bitcoin balance (regardless of its value).