Post
Topic
Board Altcoin Discussion
Re: DONT MARRY YOUR ALTCOIN BAGS
by
South Park
on 20/06/2020, 13:19:32 UTC
altcoins are great for flipping for more btc but dont every marry a coin. When btc goes on a run past all time highs you dont want to be bagholding ALTS. You will watch them get crushed. I personally was bagholding alts from 4k-20K and they got demolished I even had friends saying man you must be doing well with those bitcoins you have Cheesy In the end alts went nuts and I did well but If I would have waited till BTC topped out I would have made more. So moral of the story there is dont marry a coin/project they and watch your btc shrink get in and get out after you make decent profits. Sure sometimes you can buy an alt an maybe 10x-100x on it bagholding, but there is 1000s of coins out there that wont make those type of gains. Anyway do whats best for you but dont be that guy married to a bag watching btc head to 50-100k or whatever the top might be
I agree with the advice, since people recommend all the time to hold your bitcoin even when it begins to go down some people have the idea the same principle applies to altcoins and that is not true, altcoins are extremely risky assets that could be worth nothing in a single day, as such if the altcoin in which you invested begins to go down rapidly the best thing is to get out of it, now some may consider this to be a bad idea since the coin could always recover but we only have to see the history of altcoins to know that the majority never recover after a huge drop.