The Worse Kind of "FUD" is Apparently Crypto "FUD"... Avoid if Possible
So Bitcoin has almost reached that magical $10,000 level again, picking up bullish momentum. Great news if your portfolio is mostly in BTC, not so great if you're left bag-holding a bunch of alts the majority of which, apart from the top 10, haven't really moved or gone down. Yeah, it can get very frustrating and guess what? You're allowed to be! How you act upon that frustration is a different matter entirely. Over the years, I switched over a substantial amount of my Bitcoin holdings over to crypto projects deemed as having a bright future. Big mistake, some may say. And at the moment, it would seem like they're right. But you won't hear me bitching about it. If anything, I'm up for the challenge and "will" make this work out for me. As you should too, if need be.
I've not only been reading posts and articles in various forums outlining the distress some people are going through, but many comments too further adding fuel to the fire and feeding that depressive atmosphere. The FUD train for the altcoins, is beginning once more. But that will only be the case if you make it so. Coz you also gotta remember. You'll hear many opinions, views, takes and advice on what the next potential moves of the market will be. It's all a bunch of BS, spewed out to make quivering wimps out of us all. There is nothing in life like a "wrong" decision. We all do what we think is right at the time, which then goes on to either work out or not.
In regards to the alts, the strategies are clear. Stick to what "you" feel are sounds projects. I believe opportunity still exists out of BTC. Those with a decent user base, good development behind it and valid potential real-world use cases. Then simply wait and let the chips fall where they may. I'm currently stacking on my so-called "big" ones*, according to a list of criteria from my own personal vantage point. People will always tell you one token is better than the other, but you listen to what your own mind decides, whilst also taking those critical factors I just mentioned above, into consideration.
Some people will be first in line to shit over a certain alt because of stagnant price and a spike down. This right here is the worst kind of FUD for any platform or blockchain. Things may not have worked out as expected for them whilst they see fit to infect and spread their frustrations and fears across to us. Again, don't buy into it. As I say, "if" the projects of today have good fundamentals backing them, price increases are bound to happen over time. Circumstances change and I've seen the absolute extremes of a broken market recover like a rising phoenix from the ashes. The alts will have their time. Fine, if you missed the BTC boat, fuck it. Don't dwell. Focus on the positive aspects of your portfolio and look to expand upon them, biding your time until the eventual turnaround.
Some may be cashing out and leaving the crypto space behind with a bad taste in their mouth. A pretty stupid thing to do really. You never exit at the bottom of an opportunistic market. If anything, you accumulate more on the way down and many "downs" are fast running out of room. Evaluate your own journey and look to improve upon it. That's what I'm doing. Fight or flight. I choose the former. Let BTC do it's own thing. Let it keep riding up in price. It's not in your hands anyway. Your own path is your own to manipulate in your own way so make sure to stack hard whilst you still can.
As the last thing you want is missing the same train twice in a row! Keep your chin up. Wishing you the very best of luck out there.
It’s always good to hold a few Bitcoin just in case.