A lot of what I've been reading and hearing is that new investors have over bought all the cheap coins and artificially inflated the prices to unsustainable levels.
I feel like I'm one of these newbies that did exactly this. I bought some XVG and POE when they were super cheap, TRON was on my list but I never got in, in time. They all seamed to have capped out around the $0.20 mark recently, with some pretty good daily movement.
I'm starting to worry this may all just blow up in my face if I hang on to these coins too long, but the price is still really low.
I'm currently wrestling with 3 options in my head and I really don't know which to do.
I have decided that I've committed this money to cryptos and not ready to pull any profits out and my plan was always to try to make some really big gains within the next year or two so I do want to keep it all reinvested.
Option 1-Continue to HODL
This is what I'm actually leaning towards, is just continuing to sit on these coins. I do feel XVG and POE may have some long term potential, they seam to have good actual uses and may turn out to be good coins. I'm not naive to think there going to be hundred dollar coins and there's lots of circulating volume, but I feel there's stronger than TRON which certainly seams over high on market cap. I feel there's room on the others and they may hit a few dollars long term and if that's the case my current holdings will of course be worth a lot more. But lets say they do hit $10/coin. That's a gain of 50X that may still be possible although very unlikely.
Option 2-Sell most/all of them and move into something else long term
This option is also very tempting and probably the safest. I think it would be less risky but I wonder if the profits would be a bit less. It's so hard to tell what's going to happen. Anyways the way I see this in my head is Selling 50% of what I currently have in XVG and POE and reinvesting it in EOS. I know EOS is still kinda speculative, but everything I've read makes it sound pretty promising. I don't expect it to disappear and I do feel it's undervalued currently. If everyone is calling it an ETH killer, than the price may reach similar levels so there's a 6x the supply so lets say conservatively it reaches 1/6th of the value for the same market cap that makes it around $200/coin. That means it may have a gain of 20x, but this is probably more likely to happen than Option 1.
Option 3-Try some Day Trading
This idea sounds exciting and terrifying all at the same time, but after watching the charts for the last few weeks, these coins seam to have alot of daily movement and I heard a lot of people report that they are doing pretty well just trading some of these daily swings. I could possibly add to me current holdings for totally nothing, if I can guess the swings right. I also feel that this would help me appreciate the market a bit more and get a better feel for the charts and patterns.
Of course I'm also very tempted to cash some out and buy something shiny, but I do want to wait for the big score down the road and fine with gambling with this money.
Oh yeah, this isn't advice and please don't do anything I suggested I'm mostly just talking out loud here, all the numbers I guessed at are all made up too!
Anyways hopefully some wise veteran of this crazy market can help me make sense if it all
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