Lost Month
Hi Friends,
The last month has been a wild ride in crypto. The climb was healthy and steady, but the drop was fast and severe - in the end, we are about where we started:
If you held, its a non issue, except that you left some potential profits on table.
If you rotated, you probably came out in the same spot, minus some trading and gas fees.
If you held in liquidity pools, you lost some principal with all the trading between the pools and the winner being sold in favor of buying the loser in the pool, hopefully offset by staking rewards.
If you bought the dips, you are likely feeling the pain, but the dips on BTC, ETH and other bigger projects will likely be regained, so you just overpaid.
If the end of altcoin season is upon is, I need to start dumping some stuff - I don't want a repeat of 2018 where I was left holding the bag for a few years on many of these coins.
What are your thoughts and strategies right now?
Good luck,
Brian
Tough to decide what to do. It can go either
Way. I think you should split your investment. You can hold some and you can take out some profit.
Good idea on the split!
We can learn new information from your post every day. Your post is always great for us. Please keep it up.
Thank you for the kind words.
I did nothing... just holding ... but earning more from blogging and staking here on Steemit, Blurt, Noise.Cash and Proofofbrain.io
If BTC, Eth, BNB, BCH, Steem, Blurt come back I did ok.
You are right. But the decline is coming. But it is necessary to stay for some time. Will look increasing again.
Agreed, it will increase again
Yeah I really need to decide what to do with all my altcoins haha
Hard to know - would hate to have just held until they get back to the same levels before the 10-20x rise. These coins are certainly not stocks - no ownership interest, non income producing asset, constant dilution with new coins, no underlying value - I hope many of these new crypto investors really know the risks! Don’t get me started on investing in NFT art, lol!
hahaha yeah, I am not a fan of NFTs personally. You are right, so hard to know, I am kicking myself that I didn't take enough out to recoup my total crypto fiat investment. Back when my whole portfolio was up like 6x, now I am at 2.5x haha
Tough to know when to sell… as an investor for a long time, I usually think about investments as long term holds based on a conviction I have (if I am investing in individual companies), but I don’t think crypto can be a long term investment, with exception of BTC and maybe ETH - BTC as a digital gold store of value with a small place in an asset allocation, and ETH as the main place for blockchain use/development. Most everything will likely not have significant value in 5-10 years compared to now, in my opinion.
That makes a lot of sense!
investment strategy, perhaps wait patiently for the market price to rise again that the market price will stabilize again
Good idea my friend!