Bitcoin Skying it, Alts Going Down... Familiar Story?
So Bitcoin has almost reached $10,000 again without any sign of stopping. Great news if your portfolio is mostly in BTC, not so great if you're left bag-holding a bunch of alts the majority of which, apart from the top 10, haven't really moved much in recent times (HIVE being the exception, of course). Yeah, it can get very frustrating and guess what? You're allowed to feel that way! How you act upon that frustration is a different matter entirely. Over the years, I switched over a substantial amount of my Bitcoin holdings over to crypto projects deemed as having a bright future. Big mistake, some may say. And at the moment, it would like seem they're right. But you won't hear me bitching about it. If anything, I'm up for the challenge and "will" make this work out for me. A mindset I try to remain true too.
I've not only been reading posts and articles outlining the distress some people are going through, but other comments further adding fuel to the fire and feeding on that "depressive" atmosphere. The FUD train for the altcoins, is pulling into town once more. But that will only be the case if you make it so. Coz you also gotta remember. You'll hear many opinions, views, takes and advice on what the next moves of the market will be. It's all a bunch of BS, spewed out to make quivering wimps out of us all. There is nothing in life like a "wrong" decision. We all do what we think is right at the time, which then goes on to either work out or not.
In regards to the alts, the strategies are clear. Stick to what "you" feel are sounds projects. Those with a decent user base, good development behind it and valid potential real-world use cases. Then simply wait and let the chips fall where they may. I'm currently sitting on the so-called "big" ones*, according to a list of criteria from my own personal vantage point. People will always tell you one token is better than the other, but you listen to what your own mind decides, whilst taking those critical factors I just mentioned above, into consideration.
I see a few individuals are taking this opportunity to shit on smaller projects because of stagnant prices or various other reasons. This right here is the worst kind of FUD for any platform or blockchain. Things didn't work out as expected for them so they now see fit to infect and spread their hatred across a community. Again, don't buy into it. As I say, "if" the projects of today have good fundamentals backing them, prices increases are bound to happen over time. Circumstances change and I've seen the absolute extremes of a broken market recover like a rising phoenix from the ashes. The alts will have their time. Fine, if you missed the BTC boat, fuck it. Don't dwell. Focus on the positive aspects of your portfolio and look to expand upon them, biding your time until the eventual turnaround.
Even now, some people be cashing out and leaving the crypto space behind with a bad taste in their mouth. A pretty stupid thing to do really. You never exit at the bottom of an opportunistic market. If anything, you accumulate more on the way down and many "downs" is fast running out of room. Evaluate your own journey and improve upon it. That's what I'm doing. Fight or flight. I choose the former. Let BTC do it's own thing. Let it keep riding up in price. It's not in your hands anyway. Your own path is your own to manipulate so make sure to strategize hard whilst you still can.
As the last thing you want is missing the same train twice in a row! Keep your chin up, peepz. Wishing you the very best of luck out there.