After last month's crypto crash where all my coins took a massive hit I became disillusioned with crypto speculating, stopped coming to /biz/ and stopped checking Poloniex. But now that BTC has shot back up to new highs I decided to check my Poloniex balances to see how things had gone.
It's worse than I thought. The BTC value of my portfolio has dropped from 2.8 BTC down now to 1.2. While I haven't lost much in terms of dollars, the opportunity cost having my money in altcoins instead of bitcoin is nearly $7000.
I'm considering just selling all my altcoins and staying entirely in bitcoin like I should have done. Speculating hasn't worked out for me and I feel like I should cut my losses now and call it quits. I just don't have what it takes to be a crypto trader.
What do you guys think? Should I cash in my chips now and just go all in with BTC, or should I hold out in the hopes that some of these coins recover in terms of their BTC price?
>buying altcoins
>doesnt check them daily
You deserve it ma friend. Stick to bitcoin if you dont want to trade daily
I'm in somewhat the same situation, I feel really tempted to sell aswell at this point but I think it's better to just hold it through.
You've past the point of return. Just hold it out.
SOME DAY, it will return. You know that, you just need to be able to ride it out for maybe a year.
This advise also goes to me directly..
You bought total garbage dude, what did you expect? I mean Siacoin ffs?
Sell it all and move to Bittrex and buy NEO or OMG.
>>3061664
What I think is that you should be hopping ship back and forth. It's time to buy up all the cheap, promising alts and watch Bitcoin fall back into the $3000s level.
Then sell those and hop back on Bitcoin again in a month. Back and forth.
Long term hold for alt coins is the biggest meme ever,
shitcoins are just good to accumulate more bitcoins, that's all,
>>3061664
Alts are going to pop off again. You might not get the same BTC value you could have 2 months ago but your total dollar value should go up.
I got fucked having all my money in alts... Lesson learned. But I suspect an alt party soon so hold, but don't HODL xD!
Basically I'm hoping I can consolidate back into BTC at not too much of a loss or maybe even a small gain and take the lessons I've learned into future trades.
>>3061664
Dont, bitcoin is going to stop at 4800 and crash down to 3k and your altcoins will recover. Goldman sacks is manipulating the market and have said what their plans are.
>he fell for the altcoin meme
hmm, so it sounds like I should hold for now and wait for a slight price recovery / bitcoin correction, but that when that happens I should get out of alts.
I guess this is what I get for taking investing advice from /biz/. Lesson learned, I'm going to stick just to the main coins from now on and leave the gambling to the experts
>doge
you don't speculate in alts because you think you'll find the next eth
you do it to make short term profits in btc
if you're not going to grow some balls and watch your portfolio, don't buy alts
oh you also missed out on making a ton of money off BCC so good job on that
>polo
bittrex or binance.
>>3062031
No don't hold, you have a bunch of shitcoins. Find some new alts to invest in. Also Polo is pretty much trash these days.
the exchanges have been shorting everything hard. poloniex is the worst for having all coins they sell down everyday. there is no reason for polo to be in business, its a money graveyard. bittrex looks like they are doing the same thing
>>3061664
Daily reminder that most altcoins are useless trash. The only point in buying them is to sell at a higher price and increase your BTC stake.
>HAHAH JUST HODL HODL HAHA WHAT COULD GO WRONG JUSN BUY AND LEAVE IT FOR A COUPLE MONTHS YOU'LL BE 100X RICHER SET IT AND FORGET IT
God /biz/ may be the worst board on 4chan at this point, the IQ is easily in the double digits. If you ever wanted proof that the advice to buy coins and hold/leave it for any period of time is literal shit advice spewing from someone's asshole, this is it.
honestly if you are looking for long term "sure thing" gains then you should probably just sit in btc.
alt coins are for people like me who stare at charts for 12 hours a day
im pretty much the same, im gonna have to sell 90% of my coins at a loss because i dont see any chance of improvement