Up 149% in Vertcoin (VTC), What to do Now
Back on July 9 I wrote about Vertcoin as a speculative play alongside a longer-term play in Litecoin, which I’ve written about here and here.
At the time Vertcoin traded around $0.47.
The reason I liked Vertcoin as a speculative play was line from Litecoin’s roadmap. Back in July I wrote:
Here’s the key line, and keep in mind Litecoin already has SegWit and is testing the Lightning network.
Work on cross chain atomic swap between Litecoin and Vertcoin.
Atomic swaps are big. They’ll create interoperability between bitcoins and altcoins. And the testing ground will be Litecoin and Vertcoin.
So when SegWit went live on bitcoin on August 24 it was not only big news for bitcoin, but Vertcoin as well.
At it’s high Vertcoin reached $1.17, up 149% from my original prediction.
As you can see from the chart above VTC now trades around $0.92, still up over 100%.
So the question is, do we buy, sell or continue to hodl?
Me, I’m hodling for now.
When the first atomic sway is completed, and the news it out, that will be the time to take some profits.
What are you doing with VTC?
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Vertcoin will fall down
I can see VTC falling from here, then rallying hard after the first atomic swap, then falling again. Gotta be ready to sell on the news.
Congrats on the good fortune! If I'm following my rule of thumb.. I set a threshold return that I'm happy to cash out at and dollar cost average sell for anything over the gains I'd be satisfied with. .
While you won't experience the full gain potential as if you'd waiting till the market's peak. Let's be real. Trying to time it with that level of precision is impossible. So just as an example, with the whole crazy rally with ANTSHARES a couple weeks ago.... during the first 100% jump from $5 - $10, I cashed out 25% and for every 25% higher, I'd sell another 25% of my stack.
So you know, I peaked at selling around $20-25... and while ANTSHARES blew up to $50, I had the peace of mind knowing that I got what I came for (even more so actually!) Getting greedy in instances like this, will screw you, so even though it's crypto, try to practice some conservatism.
Coming from a more conventional investing background, anything north of 10% is god-like. And the 30-1000% that crypto investors are experiencing, is just gross (used in a positive manner). I'm sure you'll be killing it with other coins in the future! :)
I like your strategy. It's a good way to not go broke;-) You definitely don't wan't to be piggish, the pigs get slaughtered, right. So I like to do small sells, stack some BTC, and reinvest the rest. At the same the time there's a lot of money coming into the space so I'm reticent to close entire positions at this point.
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Wow! that's a amazing news.
hi im a newbie on steemit
nice to know u.,i love to see ur post thanks for sharing
but coinbase cant use for my country
What country are you from? I bet someone on Steemit knows how you can get into crypto in your country.
im Indonesian
im pretty sure but i didnt find yet post bout that
Wow good news!!
Yeah right.
Value is increasing. So good
$2 is in sight
Right.
I have not been following Vertcoin, so take my advice with a grain of salt.
Generally though, it often happens that word of upcoming news will drive the price up. Then when the news almost hits the market, people start dumping. Why? The majority only got on, because of the news, so they are trying to cash out before everybody else.Of course, everybody else also thinks they are the smartest, hence the dumps usually start before the news gets out.
So my advice to you is to ask yourself why you got Vertcoin. Do you believe in Vertcoin's future and do you want to HODL it for a year?
Or are you just on Vertcoin because you saw it as a chance to increase your dollar amount in a relatively short time? If the latter is the reason, I suggest you get out as soon as possible since you already made nice gains. Or atleast set your stop-loss orders to prevent loss.
From my relative outside perspective, I don't see the value of Vertcoin retaining it's highs after the news. It will probably go down. But like I said, i don't follow Vertcoin and am basing this mostly on my general experience in the markets.
Stay safe and informed!
I would argue this wasn't even "the" news. That's coming when LTC and VTC complete their first atomic swap. Since the time can't exactly be predicted like a conference I expect the buying or selling to occur post-news. Buying if it's a success or selling if it fails. I think it'll be a success and will sell some of my VTC on the news. If it fails I'll take my lumps and move on. My 2 cents ;-)
Sounds like a plan to me!
Good luck! 👍🚀
Where does one get those little icons???
Shhhh! It's a secret: https://emojipedia.org/
It's easy just click the button and paste it onto the text field on Steemit. Wish it were a feature of Steemit itself, but this is the easiest way I found so far! 😎
Lol, thanks! 👍👍👍
good call. wish i had seen this earlier though
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