Something you have to bare in mind, lots of people are trading crypto on different timescales, just like they do on every asset class. Walk into any hedge fund and people will be trading on anything from tick charts up to quarterlies or more.
The people you refer to as 'weak hands' are probably day traders profit taking. That means that they've just made $$$ while your portfolio just lost $$$.
Will they make more money in the long run instead of buy and hold ? Sure, of course they will. If the price is ranging one day and they're swing trading then they're going to make lots of multiples of what you do every day. Your portfolio might have went up 100 pips in one day, theirs probably went up 70+40+60+80+30 pips. And their account compounds every day, buy and hold doesn't, it's dead money.
Sorry, I just can't stand this idea that people who trade less than 'one entire human lifespan' are somehow 'weak' or 'stupid'. In ten years time, their account will have compounded to 100x what yours is. Are they still weak, stupid and clueless ? ;-)
I hear you, but I disagree as to who is doing this trading. I maintain it is the clueless mobs: the DOGE supporters, those buying the dead coin BAR, hell - there are still people buying BitConnect! Come get some skin in the game here and you'll see...
I might consider trading some crypto soon, but only on margin or it's not really worthwhile. I don't want to hold any actual crypto, the spreads are too wide for my volume of trading.
I'm pretty confident my technical analysis is better than most of the crypto traders... If I can trade Forex, which is merciless, then crypto should be a walk in the park. :-)
You GO gurl!
I would suggest that the best way to get into crypto might be to forget everything that you already know... The rules are "funny" here.
hmm, I think I'll stick with my tried and tested method of trading, it's called 'consistently making lots of money daily'.
I don't think I can handle 'throwing darts at a dartboard, in another room, over my shoulder, blindfolded, once a year' he he he :-)
Just remember that you're making fiat money. That could prove problematic in years to come. For what it's worth: the traditional stocks that I've held onto are my precious metals ones.
me too... not the actual metals but I have a lot invested in mining companies that produce precious minerals (the ones that are used in battery technology). Big future...
Clever... I've stuck to gold and plat, but I like your idea even more.
As I've said before, putting money in metals is a bit of a waste long term. Good short term havens but they never increase as much as other things. I wrote an article about Gold if you recall... :-)
The way I see it, renewable energy is going to be a big thing whether we like it or not. Most renewables like solar and wind, tide, produce even when you don't want them, so energy storage is going to become a major thing.
Not to mention electric cars due to overtake fossil fueled ones, all needing batteries... plus new wearable tech, phones, laptops.. batteries are big business, or soon will be. So rather than invest in the materials themselves, I've invested in the companies that find those materials, the miners.
Once scarcity happens and it will, then the price should go up quite nicely.