I bought ethereum back in March at $12 then $17 and finally $19. I held it until mid april where i sold it for a nice profit after its jump to $50, i told myself that the price would drop and i would buy in again and buy more this time around....big mistake. The price exploded about a week and a half later and kept on climbing from there. I will not make that mistake again.l, this time around i will buy and hold and only sell off fractions of coins if i do sell from now on.
Thanks to steem and other altcoins i will write about soon I feel i will be able to not only recoup my loses with selling ethereum too soon but also smile all the way to the bank.
What are some altcoin mistakes you've made?
It seems that every altcoin has its difficulties to scaling up, mostly the solution is POS.But it is hard to control the speed of the inflation in POS, so lastly a new altcoin will come to the market for alleviating the problem. It is just a vicious cycle....
Haven't made any mistakes but I'm curious if you bought back in.
No i havent bought back in, dont think i will be able to get enough to make it profitable, i have instead switched to other altcoins like steem and im going to invest in an ico which my next post will be about.
I also bought at around 17 and sold and 90 ... if you assume its always going to go up and never sell , you will never profit...
My mistake was attempting to mine Bitcoin. Over time the difficulty factor wiped me out. I would suggest buying the same $'s worth of 3 coins, balanced. If one gets $500 ahead of the others, sell a little (sell high) and rebalance (buy low).
Perhaps you should purchase mining contracts from genesis or hashflare?
i firmly believe genesis and other mining contracts are ponzi schemes. I invested about $1000 a year ago and tracked it closely for awhile... my rewards fluctuated with the price which should not be the case. The amount of coin should go down overtime as the difficulty rises but thats not what I saw.
i use hashflare currently and i have gotten back my inital invest twice over so far, but that was because ethereum rose so much, but yes you should have gotten more if you bought before ethereum went up.
I will def checkout hashflare!
At present, I DO have 3 coin transfers oer day coming from Genesis for Btc, Ltc & Eth.