THAT IS THE QUESTION!
(Started this last week but Boris slaughtered my Christmas plans)
Bonjourno! We've been extremely patient for Bitcoin to break a new time high! witnessing Bitcoin pump to 23k was not just revolutionary but a signal to tell us we will be heading to the moon. The idea that BTC will hit 100k next year seems absolutely feasible at this point in time. You'll still get people laughing in your face at the notion of this, It's okay though because they're the ones who will continue working for the man for the rest of their lives mwahahah!
If you've been accumulating like me over the passed 3 years you may be thinking the same as me 'what now?' Do I splash out on Alts again with the potential of my portfolio getting smashed in?? Do I review the ALTS that I do have that are slowly losing Satoshi value under my radar and convert to BTC or HODL and accrue passive income? Do I HODL and trust in my investments over the years and hope they turn out to be crazily worth it! There is a name for these two types of ALTS in the investor world ; Oscillators & Degenerators.
I may have been in the space for a few years but this is an endless learning curve, after witnessing ALTS shed tremendous Satoshi value over the years it's difficult to pick out the gems that hold value. I stumbled across a video by 'Crypto Love' where he talks about Oscillators & Degenerators, of which he highlights what we need to look out for. More often than not the degenerators slip under the radar, I've found myself in this position a few times over the years where I've checked an ALT and the Fiat value has increased by 10-20%, at this point you're thinking this was a great buy.. then you check how the BTC value is doing... - 30%!!?? Who conjured up the crazy ass potion?? The cheek!! I'm sure a lot of us have been in the position and we wonder, why the fuck did I buy this ALT with my Digital Gold?? My precious Satoshi?? Here's some neighbourhood friendly graphs to demonstrate Oscillators & Degenerators >> https://woobull.com/the-two-types-of-altcoins-an-investors-view/
My lessons were well and truly learned(ish) in 2018, I grand total of 80% (Due to BTC Dominance) down after being in the space for less than a year. This is what happened to me in 2018 and I'm sure others felt this wrath. Bitcoin hype had me at ''Imma make you rich boi'' .. I was one of those fomo'ers who bought most of his ALTs with Bitcoin as at the time I was unaware of the slow bleed of Satoshi, which continues up till now and I'm sure will continue. My favourite to look back on was that .25 BTC I used to buy ADA when it was 3000 Satoshi, I've not recovered half of that back yet. By all means I bought ADA at 1-5 cents and that was great, but I'm not interested in making paper money. As I'm writing this you can go onto Coinmarketcap and search ADA and you'll see how the value is crazily split between Satoshi and Fiat. I think I'm attached to ADA and will potentially godown as a fan boy, but hey at least Im not an XRP fan boy ;).
I did something else fantastic in 2018, I took out a loan and did not listen to the advice of ' Only buy what you can afford to lose', In my mind I had nothing to lose at the time so no problem! (It was a terrible year for me)
I was an extreme risk taker, and funnily enough I saw the value and the idea of Lending platforms, such as Salt, Nexo and Celsius. I thought the profitability will be huge. I invested my Fiat loan into SALT of which was around 25,000 Satoshi at the time. The plummet was unbelievable, how could I get this so wrong? This coin is surely projected to hit at least $10 again? Well that's what a random website told me... On that subject, do not feed yourself with price predictions and prediction websites, you may end up holding onto a coin/token that is on it's way out! SALT is now worth 1000 Sats/ 0.24$.. Major flop for one of my first investments, do I regret it? No. Because I've 4x'd my portfolio this year from not making these mistakes... Yet
Anyway, If you are like me and watch Crypto videos daily on Youtube you'll know how diverse some of the opinions and forecasts can be. For example Davincij15 says ' Alts will pump in Satoshi value Feb-March'', Team underground says '' Alts will lose satoshi value but we may see an Alt season early summer.'' Both highly credible, Davinchij15 being an early adopter and loves bigging up Bitcoin and crypto's in general. Team Underground had around 100 followers when I started watching him, he's now reached over 30k followers, he often makes correct daily projections and his agenda doesn't ride off of his ego. So who do we listen too? Does it really matter? 'Ivan on Tech' is also expecting an ALT season of sorts to arrive early 2021 and so are other Youtubers I follow such as 'Crypto Lark'. The thing is, I believe making such a forecast is near impossible this time around. We know history rhymes, but will it rhyme like in coherence to 2017? Everything can PAMP then DAMP within a few months, weeks or minutes in accordance to a lot of ALT coins. The accumulation period has been strong, more people are buying up crypto, businesses are using it as a reserve and now the banks have done a U-Turn of sorts in regards to crypto. The way I see it is that we will hit a crazy target for Bitcoin in 2021 and to not have at least half your portfolio in BTC is not a good plan, the idea of a majority ALT coin portfolio with the possibility of losing 70-80% Satoshi value in accordance to passed events will be devastating.
My first year in crypto was like me going into a gun fight with a wooden spoon, I do not recommend this.
Thank you for reading, this is technically my first blog post I'll be doing a part 2 over the next few days and look out for my latest impression video
Hope everyone had a lovely Christmas :)
AshDmack
