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Here I will write my point of view on altcoins:
1. Investing in launches is very risky.
I learned this by investing in some coins because they were launched and they started at the peak and then just fell. The ideal is to wait for the fall and identify the support level.
2. Greed can make you lose your profit and get stuck in the coin when it is low.
I learned this in practice. I decided to hold the coin and didn't identify the time to sell.
3. Not all altcoins are for long-term investment.
4. Don't follow influencers' advice to the letter.
A lot of the mistakes I made were because I followed influencers' advice. Do your own analysis.
5. If you invested in a coin, set a stop loss. Not all coins can be held when they are losing; some coins can take forever to rise again.
May God bless all investors and may God enlighten their decisions 🙏 🙌
$USUAL
1. Investing in launches is very risky.
I learned this by investing in some coins because they were launched and they started at the peak and then just fell. The ideal is to wait for the fall and identify the support level.
2. Greed can make you lose your profit and get stuck in the coin when it is low.
I learned this in practice. I decided to hold the coin and didn't identify the time to sell.
3. Not all altcoins are for long-term investment.
4. Don't follow influencers' advice to the letter.
A lot of the mistakes I made were because I followed influencers' advice. Do your own analysis.
5. If you invested in a coin, set a stop loss. Not all coins can be held when they are losing; some coins can take forever to rise again.
May God bless all investors and may God enlighten their decisions 🙏 🙌
$USUAL
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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