After so many years in the crypto trading circles, my deepest takeaway is this: with those altcoins that pump hard and dump even harder, you should never chase the rally or sell in a panic.
Recently, ZEC has fallen from over 1600. It dropped 7–8% in a single day, and friends who chased in earlier may feel their mindset slipping again. In fact, this is just how anonymous coins behave. When they’re going up, they can keep pulling continuously; when they’re going down, they don’t hold back either. Their volatility is much higher than BTC. My personal view is that you must not take heavy positions in coins like this—keep a small allocation and just hold and observe. If you go all in, you won’t sleep well at night.
For my own trading of these smaller coins, I’ve always followed one principle: never put all your eggs in one basket. Allocate a bit to mainstream coins, and try a small position in altcoins. If it goes up, you can be happy to make some profit; if it goes down, it won’t affect your overall account too much. Take it one step at a time—you don’t have to squeeze every last cent out of the trade.
Have you run into those kinds of small coins lately that you just can’t hold onto? Chat about it in the comments.
$ZEC
#zec
Recently, ZEC has fallen from over 1600. It dropped 7–8% in a single day, and friends who chased in earlier may feel their mindset slipping again. In fact, this is just how anonymous coins behave. When they’re going up, they can keep pulling continuously; when they’re going down, they don’t hold back either. Their volatility is much higher than BTC. My personal view is that you must not take heavy positions in coins like this—keep a small allocation and just hold and observe. If you go all in, you won’t sleep well at night.
For my own trading of these smaller coins, I’ve always followed one principle: never put all your eggs in one basket. Allocate a bit to mainstream coins, and try a small position in altcoins. If it goes up, you can be happy to make some profit; if it goes down, it won’t affect your overall account too much. Take it one step at a time—you don’t have to squeeze every last cent out of the trade.
Have you run into those kinds of small coins lately that you just can’t hold onto? Chat about it in the comments.
$ZEC
#zec