Interesting to see the sentiment in noise community and in some telegram groups. A fair amount of people are still hopeful that alt coins may recover. Heck, some even buy small amount of Luna for potential "hero or zero" gamble. The earlier one embraces the situation the better. This is a risk off environment. Don't throw your money into any alt coin. unless you are a professional trader.
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7 comments
Does BNB count as an alt coin, lol?
LoL are you buying bnb? 😅 I think every coin is still ready to drop much further. I made a mistake myself, but stopped now. I mean buying altcoins
Guilty. Not buying to make a quick buck, but with the conviction it will bounce back in a couple of weeks, months. It can indeed drop further, in which case I'll probably buy again if can, lol. But in the end it has too much adoption not to bounce back, hopefully.
Bnb has definitely a legit utility, plus backed by Binance itself. So I agree it's bound to recover. Just when and how much? No one knows. It's just the odds are low for any alt coin right now
"Buy when everyone else is freaking out, sell when everyone's being greedy." BNB will recover as soon as BTC does (I'd imagine), but it gives way more flexible options for staking. Conveniently, I can also remove the stake or spend it directly from my Binance card if anything happens. It's just easy and it felt like a sale...
I would slightly disagree with you. I have seen this situation in crypto more times than one. The idea is to DCA or accumulate coins with good fundamentals not shit coins and be prepared to wait. Crypto will always bounce back, the thing is not all coins will go back up. I had some coins I thought were great in 2018 but they are no where to be found now. Except you are saying with this dump crypto is dead. P.S I also bought some $20 worth of Luna, just in case, lol. Bro this market is very unpredictable. Seeing how great it ran before this dump, $20 risk is nothing. Imagine the risk/reward if this works out tomorrow.
I totally agree with you. If anything my statement wasn't clear. I never said crypto is dead. I was trying to say not to waste fiat / stable coins yet. Being patient is the key here. Also, you're a good trader, you may have a strategy to pivot if you see conditions change along the way. But many people simply buy and hold. That doesn't work here. About Luna, that's exactly what I said it could work, just the odds are in favour of more downside than upside