As a relative newbie who got into the space around October I'm now properly scared. For me investing into altcoins was the most logical way to make profit because putting 250$ in bitcoin aint gonna make me rich.
Now I've built up a bit of capital <10.000$ and it looked like it would be the year of alt coins. But this video scares me as I understand what you are saying but right now this is my best bet for profit. I wonder now when I should cash out to bitcoin then.
This is really quite hard to ponder. All I've experienced in this market is rockets and mooning and pumps and hypes and money just flowing in. And I'd like to keep what I made.
Currently everyone else is pretty much bullish on the market and it makes me feel like we are going to the moon in 2018.
Now I'm in doubt because well if most youtubers and other people are so positive and you @cryptoinvestor are that guy yelling in the streets with most people ignoring you predicting sort of an apocalypse. I simply find myself not wanting to believe what you say.
And if so many people are positive on it then how far can they push this bubble in front of them because in the end as long as people just keep putting in more money then we are all set to keep going the way we are.
I'm very much in doubt about what to do next because yeah most of my money is in alt coins. Because my small investments might as well have been on my bank account if I had put that into bitcoin when I entered the cryptospace.. it would still be about the same amount now.
Your dilemma that you are dealing with right now is exactly how bubbles happen, so I hope you can remember it as a useful exercise with investing. Altcoins are a bubble within a bubble - Cryptocurrencies are a bubble, but altcoins are like a super bubble (which seem to be correcting a bit now at least). I can't help you with this. There is much more money to be made in altcoins, that I won't hide from you. There is also far more money to be lost. Nothing will teach you this but experience. I hope you don't ever gain it though!
Remember to always think with logic then emotion. Always look to take profits when there is a surge. Little by little take away from your position because it's better to miss out then to lose it all. Forget about how much you COULD make and think about how much you made now. Look back on how far you've come and remember that you never made money if you didn't sell.
One could say the "never made money if you didn't sell" makes sense, but what if I already made money by selling my fiat?
I could not say it better. I am currently experiencing same thoughts, for me it is too good to be all true.
I'd say cash out your initial investment, plus a little interest earned? and let the rest ride. Its all a confidence game. I bought my first .1BTC when it hit $900 the first time. I knew I was getting in at an all time high but if I didn't own any I couldn't learn what it was. Being honest with myself built my confidence because I got out of it exactly what I wanted, knowledge. I understood what it was and that it was and still is the best form of money available. Just stick to your principles and learn as much as you can.