@mckambodian
I’m curious why you didn’t average down during the lows?
Corwin said:
@mckambodian
I’m curious why you didn’t average down during the lows?
It was a really invest-and-forget mindset. I checked back when Coinbase Pro merged and saw how low my balance had dropped and I just kind of gave up. Sure, it would have been smart to keep averaging down, but I kind of just decided to leave the altcoins alone and see if they bounce back!
@mckambodian
Yeah, it wasn’t that simple in the bear market either. Since 2021, I’ve been following the market closely, and there were a lot of pumps and drops. The best strategy was to dollar-cost average. I have alts that are also down, not too many and usually only around -5 to -10%, but I’m still in the red. I was DCA-ing all through the bear market. The tricky part is not knowing which alts are dead and which ones are just ‘sleeping.’ It’s difficult either way. Nowadays, I constantly think that I should have bought more of this instead of that, and it feels like a never-ending cycle. I bought some Dogecoin a year ago at 7 cents, and if I knew then what I know now, I would’ve put more into it. Back then, there were many more promising low-cap coins.
@August
Yeah, I still think back to ‘what if I had invested in x.’ It’s unhealthy but so hard to resist. DCA all the way.
@August
No way. These altcoins are iffy and no major investors want them. It’s better to sell now and invest in Bitcoin; that might help recover your losses. Institutional investors stay away from junk coins.
@Marley
Exactly. I’m surprised so many altcoin investors are unaware that countries and states are likely to invest heavily in Bitcoin and ignore other random tokens. Just think about how a US strategic reserve focused on Bitcoin alone could send it into the seven figures. This is a huge influx of cash that has never been seen before, and it’s all aimed at Bitcoin.
@Hannah
Lol, and when that money goes into Bitcoin and pushes the price up, where do you think the profit takers will go next?
Spoiler alert, the same place they go each time, into altcoins. Even if the money flows back into Bitcoin, it usually goes into altcoins first.
It’s kind of wild that Bitcoin maxis still genuinely believe that.
@mckambodian
I feel that struggle you’re talking about. Everyone has to make their own choices, but only when someone gets hurt badly do they really understand.
Honestly, in my view, crypto is one of the most challenging markets to be in historically. The only reason I’m still here is that the current administration is taking office, and they plan to make changes regarding crypto.
Just look into their SEC appointment; the aim is to eliminate capital gains taxes on crypto and pursue other improvements. If this market becomes more legitimate, most of the small players will get wiped out by the big institutions.
You spent $16000 and now your account is down to $5300…
Bran said:
You spent $16000 and now your account is down to $5300…
Sounds about right. Lots of people in crypto are feeling the hit.
Bran said:
You spent $16000 and now your account is down to $5300…
Sounds about right. Lots of people in crypto are feeling the hit.
Really? I thought since I’m up a bit, everyone else must be at least 300% up.
@Oswin
If someone makes money, it means someone else lost it. It’s not free money. Plus when you create a new account on a trading site, they clearly state that 86% of our users lost money.
@Oswin
From what I can tell, he didn’t dollar-cost average during the bear market, so it makes sense he’s still in the red.
Bran said:
You spent $16000 and now your account is down to $5300…
Sounds about right. Lots of people in crypto are feeling the hit.
People who put all their money into altcoins could have put $8k into Bitcoin, and they’d be up right now. Bitcoin has boosted many of my altcoins.
@Brandy
Exactly. On average, Bitcoin has outperformed most altcoins unless you got really lucky.
CryptoCrafterCory said:
@Brandy
Exactly. On average, Bitcoin has outperformed most altcoins unless you got really lucky.
That’s why I always monitor my coins against Bitcoin. It’s easy to see if my money could do better in another coin that way. 70% of my portfolio is still in Bitcoin, and my other coins are just helping me accumulate more Bitcoin.
Bran said:
You spent $16000 and now your account is down to $5300…
Sounds about right. Lots of people in crypto are feeling the hit.
Had I not turned into a Bitcoin only investor since the last bull market, I’d be deep in losses.
I’ve almost doubled my investment in Bitcoin. Overall, I’m just about 10% ahead 
Bran said:
You spent $16000 and now your account is down to $5300…
Sounds about right. Lots of people in crypto are feeling the hit.
It sounds like the whole crypto system relies on finding someone willing to pay more than you did 
@CharlotteAmelia
That sounds almost illegal, like a scheme.
Bran said:
You spent $16000 and now your account is down to $5300…
Do not hold altcoins in a bear market. Bitcoin is the most stable cryptocurrency aside from stablecoins. When things crash, Bitcoin usually crashes less.