thanks for the post brother.
what do you see in the alt coin market as BTC begins to dip lower and lower. it seems some things will fall with btc and others will go up...
But the majority of the market looks like its falling. do you suspect it to be phasic the whole ride down?
Most alt coins will definitly take a hit. But I think it will not not be as drastic. Some coins have already proven to be able to rise even if BTC crashes. Maybe it goes like this: day 1 altcoins fall 12%, day 2 they rise 18% and so on and so on.
If they don't fall as much as they rise, the direction is still up....
I just saw this post and i'm really grateful for it. Do you think its to late for me to pull back and wait on the sidelines? I'm i'm down more than 30% on haejins predictions and they just keep getting lower and lower. If you were on my place, what would you do? I really thank you for your advise.
If I was down 30%, I would wait it out. I have never and will never sell altcoins unless in profit. Because I made a commitment to myself that this is an investment. Either it goes to zero (which it never does) or I get a profit some time in the future. All or nothing attitude is key. It destroys buying remorse.
short story: I was down 60% in NEO and still got a 200% profit out of it...
It takes time, but the direction of haejins and my posts is usually correct.
Without that mentality, investing is like gambling... addictive and hurtful.
Wow, thank you so much for this direct and honest answer. It means allot. I am under such big stress because of it all but this mindset is definitely something that would ease up the mental strain.
I'll maybe also try to find other interesting coins that went down allot and maybe diversify even more. Thank you for helping out!
If you experience any mental stress with your position, it means that you invested more than you are willing to loose, or you don't trust your investment decision based on somebody elses analysis...
I know it is hard to learn. It took me three years to get that mindset.