Skeptical about holding a few altcoins
I took the right opportunity to sell whatever Bitcoin and Ethereum I had with me on Exchange wallets during the peak time. I wanted to sell them not because they were not going to perform well but because I wanted to book the profits at a very high price and then maybe buy them back if the price of BTC goes down in the next cycle.
I have been holding a lot of coins in my portfolio and have been holding them for several years now. As the price of BTC is at its peak, it is not a feasible option to keep holding them as the price might fall if the price of BTC or the entire market goes down.
Reviewing the portfolio regularly
Today I got a chance to review my portfolio which I do regularly but today I was able to spend a lot more time reviewing every coin. While doing so, I noticed that I had so many coins that had absolutely no value. Maybe a few years back I would have bought them based on some recommendations but sadly all those coins are sitting like a stone inside a well. Reviewing the portfolio is one thing that gives us access to think about these coins that are not doing great.
Getting rid of some coins
Last week I got a chance to get rid of some stocks in my stock market portfolio. Luckily I was not at a loss and I was able to make a decent profit out of my investment. Maybe because I have been holding them for several years and have not considered the inflation, it can be less valuable. But I'm glad that I was able to sell them for a small better price.
Today when I reviewed my cryptocurrency portfolio the intention was similar because I wanted to get rid of some of the coins so that I don't spread too thin. Currently, most of my investments are inside Hive and sometimes it even makes me feel that I have not diversified enough. There are so many investments inside the Hive ecosystem but what if Hive itself fails? Even though the possibility is very low, there is a small chance that maybe some projects inside Hive might fail and the big value I have on Hive would go down.
I was able to secure some Hive and HBD and use them to purchase a few other cryptocurrencies. I have Litecoin, XRP, CRO, IOTA, and so many coins. Today looking at the value of those coins, it appears to be they are shit coins with no specific value. I decided to continue holding them because I don't get anything in return anyway but at least I get an opportunity when the price suddenly goes up and I would end up having enough money.
Some projects started off with a great bang and they made a lot of money and started slowing down. The coins are still actively trading in the market because some people use those shit coins to do easy fee-less transfers. That's the only use case with those coins.