I have this friend of mine that's into crypto. He is totally clinically insane and suggestions never ever take root into his thick skull.
When
#SOL was at 220$ I said to him to sell.
He believe in HODLing...but because checking the chart once a week is too much hustle to see when he's on top and just convert the investment, now he must wait like maybe another 9 months to new highs locking his holdings deep into a loss.
Waiting, HODLing...
As if any other asset will ever do what
#BTC does. It's only on top for the reason being of getting raw computing power and electricity spent converted into value. On top of that there's limited amount of it, which creates scarcity.
Whatever other pair you might trade it's diluted with time when more of it is released. Unlimited supply!
It's close to mind that the price of whatever you trade is mostly dictated by speculation and real hard real dollars someone made and put into it.
So mainly speculation and real effort put into making money you convert from fiat to crypto.
An asset like this has more of a value when more trust in each other holders have.
People might think...Hey, but
#ETH what about it?
It is considered reserve pair, and the market cap is big, that's why it lifted to thousands. Unsurmountable amount of cash is held there.
And again I told my friend to convert some fiat cash into
#SOL. As i see it new BULL market is forming. Today prices are above the rock bottom.
It's child play to deduct that, just look at the 3d and 1w charts, it is obvious. It's expected for the market to start cycling up again.
With recent
#ETH prices sliding into last year values of hard bottom 1700-1800ish and bouncing up of it.
Good idea to invest while it's low.
Sure with new directives about what you can suggest to people to do is something else now.
Don't take it as financial advice, but as a friendly tip, that if I had spare fiat I'd be hoarding some.
Certain multibillion dollar corp is releasing new product just now...Why you think that is?
Market hype is around the corner and share holders must be satisfied.