If you're in today then you're early. For anyone who is suffering with regret from not being involved yet then the next couple of weeks are a good time to do it. Lots of very important news is coming this month and therefore a lot of early investors are selling as well as newer investors being apprehensive about buying, therefore I think the price of most coins won't change a lot for a month. It doesn't take long to learn how to invest and there is plenty of information on the internet.
For me Bitcoin is always king and I will always have a lot of my portfolio weighted around this (about 50%). Initially I was invested in Ethereum pretty deep too and whilst it will always do well I just think that with the potential of so many other alt coins, that ethereum isn't that far ahead of the game anymore.
I've spread the rest of my portfolio between 5 other alt coins which are Antshares (NEO), stratis, waves, gamecredits and monaco (new, just hit the market). Also punted on another ICO but that's all it is, a punt.
I don't know a heap about all of these coins although I would say I'm best informed on BTC ETH GAME and monaco.
I'm interested to see how much action this thread gets, I imagine to begin with very little but by the end of the year it will pick up some traction
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Looking back at this thread, what a great post this was which totally called everything correctly. Any tips for altcoins in the current market gratefully received ty.
Let's set a few things straight. I definitely appreciate the comment though.
I didn't call
everything correctly. During a bull market (when everything keeps going up) people around you will seem to be doing well. The ones that are doing well people will tend to listen to. They will definitely seem like geniuses. My poker analogy is that you should judge a poker player on their day to day routine, discipline and how they handle downswings and when things aren't going their way. Not who has just won the SM twice in a year or just won the WSOP.
My biggest strike was definitely investing in ANS which is now NEO at around the $7 mark. I invested a lot of time into that, just like I do whenever I shift my money around and that coin soared like nothing before. However, despite it having such an insane run it has actually performed
WORSE than bitcoin since around June when it was $7.
One thing I was definitely correct with was that bitcoin is king. I didn't practice what I preach and most of the time I had 50% of my portfolio in coins other than bitcoin. To this date, I am currently just over -50% vs bitcoin in trades. We can't analyse our performance by comparing it to the dollar because this is a bull market. If you're going to trade crypto you need to compare it to bitcoin. I will assume that 99%+ of people involved in crypto that have made a trade since April have fallen behind BTC. If you're one of the lucky ones, then you really are lucky or you are one of the few who spend all their time in crypto, and get lucky.
I was told to diverse in crypto rather than going 100% btc when I first jumped into the crypto space. Whilst I believe this statement is solid I cannot help but feel fooled with hindsight. I believe my current mistakes so far are not being btc heavy enough (I would suggest most people go 90%+ but 75%+ is also sensible), getting emotionally attached to projects and finally spending too much time learning about this amazing technology, it has totally consumed me at times.
If you want to invest in crypto then there is one, maybe two answers to success:
1. DO YOUR OWN FUCKING RESEARCH. If a coin is being shilled it will gain popularity for the wrong reasons. If Harry Redknapp is promoting a coin then you ought to be worried.
2. Bitcoin is king. For the time being, go allin on bitcoin. I still don't practice this.
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Chronologically to this date I am not an early adopter, but I believe if you invested before Summer you will always be considered a somewhat early adopter. Bitcoin has hit mainstream for good now. My bbc app is filtered to business, economy and technology; until recently I would see one crypto article a fortnight but now it is almost every day. I think we have seen many posts in this thread from people with a better financial background than most that have chuckled at some statements. I do believe that a lot of these people are within good reason to make strong assumptions about the bubble that we are in, I definitely do not dismiss posts from acegooner and in fact I find them interesting despite a few nerves being hit sometimes
. However, crypto is no tulipmania. It's a bubble but it's no tulipmania. In the dotcom bubble of 2000, some companies managed to drag themselves through the dirt and that crash is merely a blip on the radar. Bitcoin is no different in the respect that it may very well be worth nothing or $1m a coin one day. Most cryptos will fail spectacularly and people that are heavily invested in overly speculative projects are going to feel the burn one day.
Some extra thoughts:
Things I believe strongly inCrypto is internet 2.0. It will be a bigger part of our lives than the internet even if we are not always directly involved. For example, money is bigger than the internet but for the most part we don't use it that often. The internet really makes the world go round atm.
Bitcoin will continue to grow in a parabolic manner for a long time, but a big "correction" is inevitable.
Bitcoin will continue to outperform almost all cryptos on a yearly rolling basis and is going to take a long time to remove it's dominance of crypto. If you add up the value of all the cryptos in the world, they still amount to less than bitcoins entire market cap.
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Things I am unsure about[/u]
The future of bitcoin. Despite it's current domination some things and perspectives are going to have to change. I won't go into technical mumbo jumbo here, but there are definitely some huge hurdles that need to be overcome
If crypto will take over fiat currencies. It seemed absolutely absurd to mention this to strangers even a year ago, but the potential is absolutely there
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Things that piss me off[/u]
The immaturity of the crypto space. It's full of a lot of 20-25 year olds that make a lot of noise and this is difficult to sieve through at times.
Technical analysis. My 3 year old nephew can draw lines too, well done. You have absolutely no idea what you are doing or talking about (IMO).
People that invest without having a scooby doo because they have fear of missing out. How about you take a few months to understand the tech before diving in with your wallet. If you have a friend that you completely have faith in, then fine, but don't put it on his head if you lose money. I spent 6 months reading and reading before I invested a penny. No regrets there.
The unregulated space and reactions to FUD. It's quite astonishing how much manipulation and pump&dump groups that exist. It's not what crypto is about but where there's money, there's greed. There is a lot of greed.
A LOT OF GREED.Come back to this space when we have a huge pull back and the market is bearish. The noise of silly teenagers trying to spin up their paperround money will be gone and the more interesting technical side of crypto will amerge once again. For now, sit back, switch on bbc 1 and listen to some more crypto related news.
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