What do people think about alt coins? V.1 [discussion]

Sources say $35-45 by end of June.

It's a good project at any rate.

 

That's a bit optimistic, bitcoin has shown no strength and will very likely go below 50k again.

Until we go back to near 60k there's nothing to celebrate.

 

ETH may hit $6k+ by the end of June.

Still, it's 'only' a 50% gain in a market where you can find 5x + easily. ETH is a great investment but if you're trading you're missing out on gains. Don't get emotionally attached to an asset.

 

-just- hit and the price spiked 25%.

 

Nice. People are using it as an Ethereum crutch for a while at least.

 

Yes, I’m more cheerleading ether to 5k than predicting. But ETH and alts in general having a solid day after all the fud this week. Bitcoin still stuck in its 4 month range ho hum.

 

If you can consistently 5x short term, then you are an awesome trader and more power to you. I wish I could, but know I can't.

Way I see it right now is few legitimate projects have outperformed vs. ETH since early April, and ETH's fundamental case still looks amazing. I think it will remain hard to out-trade eth for a few more months.

I have big bags of a handful of coins I have conviction in....that I believe will not dump so long as the bull market is on.....rebalance between those...and take a moonshot at things now and then with small size.

IOW: I'd rather make $10k by 10% gains on 100k of eth and sleep at night, than try and make 1000% gains on 1k of shitcoin. The second is much harder to repeat.

 

I have no clue what I’m doing. But in the last 10 days or so I’m up 120% on doge. Buying/selling probably 20-25 times. Is this sustainable? I think I’m positive every single freaking time I’ve sold them bought. I don’t do that in stocks.

 

That's not a rumor. Coinbase mentioned it on their earnings yesterday. I think they'll be adding a lot more coins after saying they missed out on a lot of gains by being picky about coins to support. LOL. They know they make money off of transactions, so the more the merrier. Be like Binance and just put whatever old crap on there and collect from the trades. Of course, I don't think they'll go quite that far.

 

When the crypto newbs start asking me question on what coins to buy, I tell them to DOYR and come back and ask for my opinion on projects. I also tell them to get on a couple exchanges, play with a couple mobile wallets, play around with Meta and Trust, make a few obscure trades to understand how crypto works. If Robinhood and Paypal are peak effort, they may as well go play in the casino. Its not that I dont want to help, I simply do not know how.

When asked why I am doing well and get accused of getting in early, I explain to them I dump a significant amount of money into promising projects and don't worry about the price, instead following the team to ensure its going in a good direction.

Golum project was my first conviction back in 2017. 4 years later I have accepted that as a loss even though I am still up by a wide margin. Those paltry gains will be rolled into something I find promising....which TBH is hard to do.

 

Coinbase and Gemini are more interest in staying in the regulators good graces instead of grifting on day trading shitcoins. This has always been known. There is far more money to be made in institutional money than retail once crypto becomes mainstream.

 

There's far more money to be made in institutional money than retail in all cases... even in stock trading, simply because there's more institutional money, but it's easier to go after retail and more complex to go after institutional money. The way Coinbase currently makes the majority of their revenue is by doing exactly what you said they don't want to do. They make over 95% of their revenue from transaction fees -- they couldn't care less what you trade. The more trades get executed (whether the market is skyrocketing or crashing), the more money they make. Once they add Dogecoin, people will be trading that like crack monkeys and Coinbase will be smiling. They're slowly trying to shift away from that model by getting more money from other streams -- they mentioned credit cards and staking services in the past.

 

Cat themed cryptos...

Spoiler

This is fine

 

Made some decent profits on this matic rise. Getting back in on the next dip

 

oh so fast? i locked mine up on binance earn

 

I forgot to lock mine up. Was planning to until I saw I was up 90% from when I bought in 2 days ago. I’ll just take profits and re-enter and lock up.