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Many of my investments outside of Hive are long term holds, but that doesn't mean I won't be selling them and buying back in once the Bull cycle is over. I have realised my thought process was wrong as why hold something knowing it is going to go down in value. Hive is the only exception to that rule for now.
I was asked this question the other day by a "retail" investor who only holds Ripple and wanted to have a dig at him but just couldn't. He just said how much can everything go up in the next 3 months as he has been listening to others in his group of crypto buddies. I explained that the problem was he was holding only one investment being XRP and he needs to have something else or a few other bags. The more diversified your bags are the better chance you have of a better return I think as you don't have all your eggs in one basket. That was me up until 4 months ago anyway only having Hive and what is on the Leodex tribes. What I have has shocked myself as to what is possible as the earnings on investments is over 250% already and climbing.
This is the first bull market I have experienced and one thing I have noticed is that not all the coins explode at the same time and there is a kind of pattern forming or was until the drop yesterday. First we had the bigger alts with the larger market caps followed by DeFi launchpads, gaming and anything NFT related but exploding in their respective categories. They tend to pop up one after each other and not together so holding only one token is not going to make you wealthy unless you have a very big bag of them and it does very well.
I don't have bucket loads invested, but it is a considerable amount as it has been growing and accumulating slowly over the last 4 months. My head is saying if Bitcoin can double from here then the alts should be able to achieve 5 x as that is a realistic figure over the coming months. Maybe I am short balling things, but clearly this is a guessing game right now. Predictions mean absolutely nothing and going with the flow is more my style as just being aware is good enough for now.
History has shown us what happened the last time with the other chain when it peaked at over $8 coming from nowhere. Hive is somewhere these days as 80c is still a good result if that was the final number for the year as it is a 600% growth or more since January. The thought we could still see a $4 Hive is encouraging as I am looking more at my other investments than Hive. If Hive can do 5 x from here then what can all the others do?
When I started trading 4 months ago the idea of having $10 000 in value was a pipe dream and that is looking that it could easily be double that if things happen the way some are speaking. All the more to lose as nothing is permanent as yesterday gave us a clear indication of what can happen if you don't have stop losses in place or move them up accordingly as the prices rise. This is the one thing I have learned this year and the best advice I have received knowing you have a safety net in place no matter what happens.
