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RE: The Coming Altcoin Exodus

in #bitcoin7 years ago

Don't bother trying to predict perfect timings on this market, there is a lot of variables that we can't know for sure if and when they influence price.

1- It only takes one personality, or 2 or 3 youtubers talking about something, the price of that coin is going up 200% in 3 days. And once one youtuber finds a cool coin (looking at you raiblocks), every other youtuber will talk about that, and the word is out, and the coin will be up 5x or 10x.

2- Announcements are made without a lot of time to antecipate.

We have absolutely no way to predict these kind of things. But I guess it can be wise (yet ridiculous) to get notified on every news and videos about coins, and if you can spot it early on, one can try and place some of their holdings on it, just for a quick profit afterwards. Like Verge.

Take Verge per example, with McAfee

So my guess is to play it safe in this market, don't let yourself get affected by the FOMO especially, and just keep focused on making consistent, somewhat safe profit.

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Yeah I don't go for perfect timings for that exact reason. I just move capital around as I see things change. That's why I was way early on altcoins, which eventually had their day. Now I'm going big on Bitcoin and I wouldn't be surprised to see that go against me for a month or two as well. But I think there will be a time that comes to pass when those funds move from altcoins to Bitcoin, so I commit to that now. We'll see what happens eventually.