Ninjastic
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Board Altcoin Discussion
Re: Will the altcoin holders hang on until the bull run comes ?
by
bittraffic
on 18/04/2023, 02:07:08 UTC
Quote from: FireDAOJackie_Z on Today at 01:56:05 AM
Quote from: nesty on Today at 01:40:18 AM
Quote from: FireDAOJackie_Z on April 12, 2023, 06:55:27 AM

I believe everyone on this forum has made both good and bad decisions in terms of investing in altcoins. I recently made a mistake buying a lot of Dogecoins after Elon Musk changed the Twitter logo into the Doge logo. Price was surging and due to FOMO, I bought a lot at the price of $0.099 and afterwards it started to dump like hell. If I continue to hold Dogecoins, the price might be dumping even lower but if I sell them now, the losses become concrete and I'll never have a chance to win back. Have you ever had the same experience ? What did/would you do ? Please share your opinions. By the way, I am with FireDAO team, in charge of the global community. Please contact me if you have any inquiry.

I am one of those who made good and bad decisions in investing altcoins. But i had learned from my mistakes so many times. If an altcoin is on hype we should not go on with the flow because it could turn losses or income for us. Be very careful in investing altcoins. If you had bought them at a high price and suddenly it went down better to hodl them and wait for it to recover to be able to get profit. As an investor I would still hang on with the altcoins that i had until the bull run comes because i do not want to loose the original amount that i had invested.

I got your point and have learned the lesson. Actually I sold most Dogecoins when the price went down so I did lose some money but I still kept some in my portfolio. As of today, the Doge price has increased similarly to where I bought. I won't sell the rest and choose to keep them until the bull run comes. It's not that bad to sacrifice some losses to learn a valuable investment lesson. More importantly, this lesson applies to many aspects of life. I am happy with my losses and gains.  Smiley

What do you have in plan to not make this mistake again?

I used to join some bounty campaigns for altcoins and I started liking the tokens when the price goes up during the bull run, the price went down after it. I tried waiting for the next bull run hoping it could rise above its previous ATH. Sadly they are not pumping to its ATH anymore. The lesson that I learned is that sell them all during the bull run.