I’d like to get some opinions on Altcoin investing strategy. Here’s where I’m upto.
1. Only invest 1% of portfolio
2. Take out initial stake after 3x gain
3. What about taking further profits, selling out completely? I’ve read that altcoins will lose 60-90% of their value when altcoin bubble bursts.
One of the challenges of investing in altcoins is knowing the coins to holds and those to take profit due to them not been authentic. We have coins that basically just copy already existing codes and launches their own project, these kind of project hardly succeed in the long term.
They could be buzzing when they launch newly due to shilling but as time goes on, they die off the market when other shitcoin are been shilled. We have numerous of them, and there are more to come so if you have interest in altcoins you have to be extra cautious of coins you add to your portfolio.
On the other hand, coins that either improved on already existing codes, making theirs superior or those that develops a brand new idea and sells it effectively to the community has a higher chance of succeeding in the industry.