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RE: Crypto Dives AGAIN? Trading and Some Warnings

in #cryptocurrency6 years ago

I agree with your thoughts on VEN. I bit into the Raiblocks hype and I bought some at 25 dollars, and now I'm almost 50% down on that investment. Clearly you were right - it wasn't ready for primetime, and a lot of issues came up with it's integration with exchanges that it became clear it was super overvalued.

I think VEN is a promising project, but like all altcoins, as long as it sees barely any usage and all we hear is "partnerships" (I hate that word) then to me it's a shitcoin.

The thing that would have saved you this January is if you moved all of your money into ETH, which has been on an incredible bullrun in January and has very impressively sustained itself around 1000USD. I think ETH is by far the safest investment at the moment, but that could change at any time - we've seen it drop more than 50% before, and I suspect that kind of correction is coming up.

This kind of movement proves a point you've made many times in your video that altcoins are becoming more and more like crummy penny stocks while things that are actually being used (e.g Bitcoin, Ether, Monero, etc.) are the "safe" places to be in corrections like this.

Personally since most of my altcoins are currently at a loss, swapping them out for Ether is not a good move. I just have to hold and wait, unfortunately.

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The key is to buy alt coins at a boring time. I bought VeChain a while back. I profited off Tron despite how dreadful a project it is because I bought at four cents. I never even bothered researching Raiblocks because I clearly heard about it too late.

Flight to safety when the market isn't behaving well is never too bad an idea (ironically there is no safe place in crypto, only safer).

that's right

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