Quote from: JayJuanGee on Today at 10:42:48 AM

Quote from: Hridyansh Labs on Today at 07:19:32 AM

Quote from: Dorkylickjj on March 06, 2024, 08:50:37 AM

Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after, the said coin drops in value, or someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?

You are absolutely right that it is important to know which currency you are buying first because the up/down and future prospects of each coin are not the same. A few times, we buy or sell suddenly due to market emotions, which later turns into regret. If it is BTC (Imagine Bitcoin), then it is normal for the price value to fluctuate in the short term. There have always been big corrections or dips in the history of Bitcoin, but in the long term, it is usually upward. Especially when there is a possibility of a halving cycle or super cycle in the market. It is often profitable to hold patiently. So it is better not to buy/Sell in a hurry here.

On the other hand...
If it is an altcoin (ETH, SOL, ADA...) and many coins, then the strategy is a little different. The price of altcoins is much more volatile than that of bitcoin. Usually, if an altcoin gives a profit of 20-30% or more from your entry price, then it is wise to sell gradually. Because many altcoins can rise sharply in the market at one time but later collapse.

The most important thing is to make decisions through technical analysis (TA). (TA means that technical analysis) Identify support and resistance levels. Try to understand the strength of buyers and sellers by looking at volume analysis.

At last, we know that DOYR is a very important part of our cryptocurrency. It is very important to do your own research (DYOR - Do Your Own Research) while making your own decisions and not just going by someone's advice. Because emotion or hype in the market can often lead you in the wrong direction. Good results can be achieved only through patience, correct information, and risk management.

This thread is not about shitcoins or to ponder over which shitcoin might be less shitty. You should try to stay on topic. Bitcoin and shitcoins are different things, even though many shitcoins try to present themselves as being similar to bitcoin or better than bitcoin in some kind of way in order to get people to buy those inferior products.

Truly, timing the market perfectly is almost impossible especially with how volatile crypto can be, i think it really comes down to your own risk tolerance and goals. given the current market climate some coins might be good buys if you believe in the fundamentals, but it is always smart to do your research and not just follow hype.