Quote from: Yatsan on November 04, 2023, 07:06:15 PM

Quote from: gabbie2010 on November 04, 2023, 09:26:45 AM

Quote from: oktana on November 01, 2023, 07:55:07 AM

Quote from: Zanab247 on October 26, 2023, 03:13:42 PM

it will be difficult for their customers to experience negative results like what other customers are experiencing from new altcoins in the market. Do you think this two altcoins are good in long hodling in this season? Because I have seen some reason that made me to apply for long term in this little shift of the price of altcoins which the bull run will show up fully next week.

I can testify that both Etheruem and BNB are very good long-term tokens, for the time I held them, they may have been slow but they were steady. But then, it won’t be difficult for people who invest in them to experience negative results now that a lot of people are coming into crypto thinking that the interest happens like magic. I can tell for a fact that when I was making my gains, someone was losing their money because they probably lost patience. People love quick money, many may say it’s too slow just because they’ve heard of some cryptos that have skyrocketed within a short time, and hence, taking out the investment at the wrong time.

Some investors only wanted to earn massive and quick profits through investing in some of those unpredictable altcoins not minding the fact that it's a very risky investment yet ignored BNB and Ethereum that are more reliable and credible though profit earned from investment in those pair might not be much compared to those altcoins however investing in them has a very low risk, honestly the era of earning 100x, 50x etc on investing on altcoins had passed that was around 2017 to 2018, personally I do monitor the top ten altcoins on CoinMarketCap make research on them afterwards select or pick two to three altcoins definitely Ethereum or BNB would be among the selected ones

Well, all of us are having the same desire however it is true that there are many investors who are being unrealistic of how market prices are moving. There are altcoins which are good for long term holding but only a few and those are the top names in this industry or with most of the exchanges. We just have to manage the risks when choosing a coin to invest. Given that long term holding is not for every token, then setting a stop loss would be essential especially if you ain’t sure of how will the market behave for a certain period of time. One thing is for sure, risk will always be present.

This is one of the fundamental mistakes that many investors make on this market, the number of coins that are worth to be held for a long period of time is very limited, the rest of the altcoins on the market need to be actively traded, and as soon as there is an important correction which moves opposite to our prediction then we need to close our position, and if there are traders out there that are using any form of leverage then they need to be even more cautious, as the volatility of this market is already extreme and using leverage does nothing but to increase the risks we have to face even further.