Tried holding for a week and..

[Sceptic]

I don’t know if this is called a social experiment or a financial one, but I bought some BTC a week ago to try to hold it. Nothing fancy, just $300, and honestly, my hat’s off for those who trade crypto for a living. I don’t think I have the patience nor the courage to do it.
Seeing your money decrease or increase in a matter of seconds is just frustrating.
I’m not going to sell that amount, not yet at least, as I want to see the end game by the end of this year. But that’s money I’m willing to lose, so who cares? (I still believe that crypto is nothing but a glorified gambling method)
I bought crypto in the past, but I’ve never held it as I’ve only used it as a medium to pay or receive payments.
How the hell do you do it?

 

[BrandingCat]

Same like they bet all on red at casino.

It's gambling,it's addictive.

 

[skyflash]

Tried Crypto earned some money and lost some money too in short term but If I waited long till the end of this year story will be positive in most cases,

There are many indicators to watch and play but non seems to work on a major down trend of the year.

As I think we need to analyze, backtest, learn a lot before we jump into it with real money, and like everyone suggest only invest that much you're willing to loose.

 

[terrycody]

Hold it!

 

[HoNeYBiRD]

How the hell do you do it?

Just listen to these brokers:

 

[royserpa]

I don’t know if this is called a social experiment or a financial one, but I bought some BTC a week ago to try to hold it. Nothing fancy, just $300, and honestly, my hat’s off for those who trade crypto for a living. I don’t think I have the patience nor the courage to do it.
Seeing your money decrease or increase in a matter of seconds is just frustrating.
I’m not going to sell that amount, not yet at least, as I want to see the end game by the end of this year. But that’s money I’m willing to lose, so who cares? (I still believe that crypto is nothing but a glorified gambling method)
I bought crypto in the past, but I’ve never held it as I’ve only used it as a medium to pay or receive payments.
How the hell do you do it?

Just hodl fiat bro.

 

[deal with it]

i think it will go up, the whales are always hungry and they would require new money and you know what, there will be new whales as well. They pretty much dictate the market, people with big money. Its so easy.


The only way bitcoin can become non-manipulative is by becoming so big that no group of people can manipulative with few million dollars. In that case it will require billions to move market, then the equation would become different, and it may turn into stock market like scenario.

 

[daviem23]

Forex, stocks and crypto trading are all the same. You should not expect to make anything worthwhile in the short term. Unless you try scalping.

 

[awesomewebsites]

My concern is little different. I can digest the fact that prices are volatile and can wait for it to recover. But uncertainity regarding my country completely banning it completely is very much scary.

 

[Ecodor]

Hold it till 2019 it would go 20k+

 

[Eagle 95]

Let me tell you a sad story. I invested in Ripple when it was $3.5, during the most highest pump ever. If I recall of %, during that week Ripple was going 40% up, then 60% up, then it fell and everyone lost money. Even tho I was in the Ripple game when it was way below 1 cent, I didn't see any value in it at the time. I still didn't see it when I invested on that tragic day but I was greedy. Whole crypto market boils down to being greedy and knowing when to back out.

All those analysis done by "experts" are lame. Those are just empty speculations with some colored lines on charts (not entirely random but you get the point) which are used to make those "experts" some money. If you aren't with the big whales in the crypto world, it doesn't differentiate much from regular gambling. I like your term, glorified gambling. Whole market is emotionally driven so if you're about to invest, I'd seek something else.

That being said, I know a lot of people that made good profits, some even became millionaires, some from day to day trading exploiting different rate and different exchanges, going through some personal contacts and what not. Usually newly made crypto millionaires were made until January this year. Those were guys and girls that bought like 10000 btc in 2011 for the lulz.

 

[Billy Batts]

You sir like many have fallen for the most advanced pyramid scheme ever.

Only the once on the top are continuesly making money.

 

[awesomewebsites]

Let me tell you a sad story. I invested in Ripple when it was $3.5, during the most highest pump ever. If I recall of %, during that week Ripple was going 40% up, then 60% up, then it fell and everyone lost money. Even tho I was in the Ripple game when it was way below 1 cent, I didn't see any value in it at the time. I still didn't see it when I invested on that tragic day but I was greedy. Whole crypto market boils down to being greedy and knowing when to back out.

All those analysis done by "experts" are lame. Those are just empty speculations with some colored lines on charts (not entirely random but you get the point) which are used to make those "experts" some money. If you aren't with the big whales in the crypto world, it doesn't differentiate much from regular gambling. I like your term, glorified gambling. Whole market is emotionally driven so if you're about to invest, I'd seek something else.

That being said, I know a lot of people that made good profits, some even became millionaires, some from day to day trading exploiting different rate and different exchanges, going through some personal contacts and what not. Usually newly made crypto millionaires were made until January this year. Those were guys and girls that bought like 10000 btc in 2011 for the lulz.

Nice reply. Your post contains a lot of hints for people wanting to make money with certainty in crypto. One can make a blog, YouTube channel related to crypto and make money irrespective of price movement.

Same like they bet all on red at casino.

It's gambling,it's addictive.

If we compare only that aspect, gambling is better. It is over in few minutes and then you can go back to work.

 

[Aty]

You need to master it in order to make money. I too believe it's sort of a gambling.

 

[Jacob song]

Nah it's not gambling.it's investing

 

[CertificationsXpert]

It's an investment which you should look to hold for longer time period. Last year i did made good profit when BTC went to ATH before Christmas.

Crypto market is extremely speculative which causes prices go up and down alot.

HODL till Christmas time and you will see good return

 

[MikeyMikey13]

You sir like many have fallen for the most advanced pyramid scheme ever.

Only the once on the top are continuesly making money.

Don't upset them, just call them all expert investors and so be it! Remember, btc will hit 100K by December

 

[Deleted member 708208]

HODL to the moooooooon

 

[thevideoguy]

Let me tell you a sad story. I invested in Ripple when it was $3.5, during the most highest pump ever. If I recall of %, during that week Ripple was going 40% up, then 60% up, then it fell and everyone lost money. Even tho I was in the Ripple game when it was way below 1 cent, I didn't see any value in it at the time. I still didn't see it when I invested on that tragic day but I was greedy. Whole crypto market boils down to being greedy and knowing when to back out.

All those analysis done by "experts" are lame. Those are just empty speculations with some colored lines on charts (not entirely random but you get the point) which are used to make those "experts" some money. If you aren't with the big whales in the crypto world, it doesn't differentiate much from regular gambling. I like your term, glorified gambling. Whole market is emotionally driven so if you're about to invest, I'd seek something else.

That being said, I know a lot of people that made good profits, some even became millionaires, some from day to day trading exploiting different rate and different exchanges, going through some personal contacts and what not. Usually newly made crypto millionaires were made until January this year. Those were guys and girls that bought like 10000 btc in 2011 for the lulz.

Your post explains most people who lost money. You bought into a random currency hoping it would go up. You had no strategy at all. You were gambling. But, now you know not to do that again

Funny thing is, the traders who know what they are doing are making money right now, on the way down, trading the top cryptocurrencies, as well as getting into small cryptocurrencies when opportunities are spotted.

If you don't have a deep understanding of and experience with stock trading, analyzing charts, human and market psychology, etc. you should not trade cryptocurrencies nor invest in ICO's or small blockchain projects. However, if you understand Bitcoin (or another cryptocurrency) as much as an outsider can and you're extremely confident that it'll be a long term success then put your spare cash in that you can afford to lose at a price you think is good, and wait 1-3 years to see what's happening then.

Regarding your last point on "Whole market is emotionally driven", that's where you fucked up. You invested in Ripple because you were excited about the project and thought you had a chance of multiplying your money in a short period of time with little work/effort. You invested emotionally. Investors who make money do not invest emotionally at all. You must act like a robot when making trades

 

[Eagle 95]

Your post explains most people who lost money. You bought into a random currency hoping it would go up. You had no strategy at all. You were gambling. But, now you know not to do that again

Funny thing is, the traders who know what they are doing are making money right now, on the way down, trading the top cryptocurrencies, as well as getting into small cryptocurrencies when opportunities are spotted.

If you don't have a deep understanding of and experience with stock trading, analyzing charts, human and market psychology, etc. you should not trade cryptocurrencies nor invest in ICO's or small blockchain projects. However, if you understand Bitcoin (or another cryptocurrency) as much as an outsider can and you're extremely confident that it'll be a long term success then put your spare cash in that you can afford to lose at a price you think is good, and wait 1-3 years to see what's happening then.

Regarding your last point on "Whole market is emotionally driven", that's where you fucked up. You invested in Ripple because you were excited about the project and thought you had a chance of multiplying your money in a short period of time with little work/effort. You invested emotionally. Investors who make money do not invest emotionally at all. You must act like a robot when making trades

Don't get me wrong, I've never said my decision with Ripple was smart. It was stupid and greedy. Bottom line, I gambled and lost. I exactly knew what I was getting into but wanted to test my luck. Percentage wise, my loss is huge. Money wise, not so much.

Golden rule, don't invest/gamble the money you aren't ready to lose.