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Many of my investments outside of Hive are long term holds, but that doesn't mean I won't be selling them and buying back in once the Bull cycle is over. I have realised my thought process was wrong as why hold something knowing it is going to go down in value. Hive is the only exception to that rule for now.
I was asked this question the other day by a "retail" investor who only holds Ripple and wanted to have a dig at him but just couldn't. He just said how much can everything go up in the next 3 months as he has been listening to others in his group of crypto buddies. I explained that the problem was he was holding only one investment being XRP and he needs to have something else or a few other bags. The more diversified your bags are the better chance you have of a better return I think as you don't have all your eggs in one basket. That was me up until 4 months ago anyway only having Hive and what is on the Leodex tribes. What I have has shocked myself as to what is possible as the earnings on investments is over 250% already and climbing.
This is the first bull market I have experienced and one thing I have noticed is that not all the coins explode at the same time and there is a kind of pattern forming or was until the drop yesterday. First we had the bigger alts with the larger market caps followed by DeFi launchpads, gaming and anything NFT related but exploding in their respective categories. They tend to pop up one after each other and not together so holding only one token is not going to make you wealthy unless you have a very big bag of them and it does very well.
I don't have bucket loads invested, but it is a considerable amount as it has been growing and accumulating slowly over the last 4 months. My head is saying if Bitcoin can double from here then the alts should be able to achieve 5 x as that is a realistic figure over the coming months. Maybe I am short balling things, but clearly this is a guessing game right now. Predictions mean absolutely nothing and going with the flow is more my style as just being aware is good enough for now.
History has shown us what happened the last time with the other chain when it peaked at over $8 coming from nowhere. Hive is somewhere these days as 80c is still a good result if that was the final number for the year as it is a 600% growth or more since January. The thought we could still see a $4 Hive is encouraging as I am looking more at my other investments than Hive. If Hive can do 5 x from here then what can all the others do?
When I started trading 4 months ago the idea of having $10 000 in value was a pipe dream and that is looking that it could easily be double that if things happen the way some are speaking. All the more to lose as nothing is permanent as yesterday gave us a clear indication of what can happen if you don't have stop losses in place or move them up accordingly as the prices rise. This is the one thing I have learned this year and the best advice I have received knowing you have a safety net in place no matter what happens.
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I truly believe what's going to happen over the next six months or so is going to leave many so called experts mouth open. The truth is we can only guess where this thing is heading, but some are acting as if they know for sure. We have way different circumstances this bull cycle.
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I won't be powering down, but I decided looooong ago that when HIVE goes to $2 i'm daily blogging and pulling ALL liquid rewards.
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I agree no one can truly be certain and things are not the same as last time so anything is possible right now.
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I think that if we focus on the amount of the crypto rather than its price, we can plan for the future. One thing I am doing on top of that I evaluate my portfolio at ATH and until it reaches those peaks again I will be accumulating. History shows us that sooner or later new ATH will take place, so that could be a minimum to exit the market if we want so.
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Good point about having a minimum price strategy as I honestly am just going to enjoy the ride moving stop losses as we go.
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Am surprised you only started looking outside Hive for crypto investments just months ago. With your stake I thought you'd have a major stake in some good alts by now. Better late than never though
Lol. My head was on Hive and nothing else and don't think I had the mindset until I felt comfortable with what I had on here first. Better late than never yes and it is looking good.
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Building your base first is always a good idea.
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TBH once the chain becomes better know the price will increase well beyond $4 in my opinion, it is nice to see when everything else is dropping at least hive aint taking the same beating with the ugly crypto stick.
Not FA
Yes I agree with that sentiment entirely but will it manage that this cycle or next cycle. Many think this year which is 5 x from here and if you think other alts or the better ones will do somehting similar along with a Bitcoin doubling this is massive.
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I think holding some XRP is a great thing to do as XRP is one of the oldest coin, and it’s still undervalue. If they won over SEC, then XRP could fly to $10, and possible to $30. Anything is possible in crypto.
Just look at Doge, it was insane move, none predicted it before.
I don't want to offend anyone. But it seemed to me that in recent years, what is happening with the crypto market should have taught any investors to diversify their assets... I hold at least 5 different coins, and in total the portfolio grows, or at least does not decrease.
Nice one, from my own perspective, things go base on law of demand supply.