You are viewing a single comment's thread from:
RE: Bitcoin down, "bad" news, what should you do?
There's only one thing you should do when Bitcoin faces a bull market: HODL and buy the dip. Bitcoin is the only coin that has a potential, don't waste your time, energy and money on coins that are doomed to fail when Bitcoin will finally rise again. Do that at your own risk and never put more money than what you can afford to lose.
Hi! I am on a totally different opinion, not as BTC is not good, but there are really serious projects out there such as steem, eos, cardano, ethos, neo, ubiq (half btc half eth), litecoin, siacoin, iota, tron, lisk, etc. Those have room to evolve. I used to use BTC as a tool to get from one coin to another, but it is riskier than others. I agree with never invest more than you afford to lose. But you need to diversify, not to be locked in one coin only!
I thought this was a very interesting article. With limited funds I stayed with Bitcoin, invested in four ICOs and a lending programme. I am definitely not going to sell at a loss. Although my resolve is being tested like never before I also don't have the trading experience nor the money some fat guys want me to spend. My strategy is to strike up a relationship with an honest experienced trader who sees beyond how much money he can make from me with his self-proclaimed expertise. If such a person is in this group and is interested in mutual help then email me : [email protected]
That's true, diversification is good, and there are some interesting projects in the cryptocurrency space. I do own some Litecoin, Ethereum, Ethereum Classic, Monero, Dogecoin and Steem, of course. They are currently offering something that Bitcoin can't do, and have room for improvements. However, with layer-2 solutions being developed every day, Bitcoin will replace all the other coins, sooner or later. It's all up to you: what do you want to do? Do you want to make money (I mean fiat money) or do you want to earn more Bitcoin? Your investment strategy should be based on that choice.
hallamhope, you can look for places on telegram, there are some groups where they give signals, I would not suggest you to go day trading yet. Just study trends, read articles, watch videos, get the basic/intermediate education and then you can start to contact people involved in this sort of trading.
fede93g: I think it is good to have a bit of everything and to be specialised on downtrends to be able to buy low. Patience and study of coins and their background is a good thing, to understand when and how is good to get into these. Rootstock won't come any soon, I am sure about that and if it will come, there will be a long testing period full of glitches and bugs. Don't forget about vulnerabilities a coin can have if its blockchain is vulnerable by adding a new characteristic to it. I would be precautious with these things. To understand better and to be able to decide between bitcoin or fiat, or cryptocurrency or fiat, as you like, there is one important thing: You always have to have some income (fiat) to be able to pay your bills, but then you can build up your strategy on Bitcoin (to get more of them). It is up to you, but even if you want more bitcoin, it is important to have fiat too. For example now, it is ideal to invest in from fiat money to bitcoin. This is why it is good to use all "financial" potential for your portfolio growth.