How long should coins be held before trading off.

[Ahmedo24]

In the cryptocurrency ecosystem millions of coins that are already existing and many are still been launched on daily basis, if you study most of these coins that are already existing you will discover that not all of them have values or purposes they serve in the digital world though the could pump for a while to bring in money.
In your experience of cryptocurrency trading and holding for how long will you advise any crypto investor to hold a coin and if the person must hold for long what kind of coins should a person hold and in what duration advisably should that be done.
Do you also take your time to read about the road map of a coin before Investing in it?

 

[sincerem]

I'm not an expert trader nor too experience around crypto trading, but I'll tell you that, trading has its own strategies, options to look out for when trading. I use binance.com to trade crypto, and i trade via On-spot and not Features. If you trade using On-spot you can decide trading long time or short time bade on your personal evaluations, and your coins can't be easily liquidated cos its not very risky like Future trading.

 

[Bookwormlux]

Talking about how long one is expected to hold a coin. I would say it's really dependent on the type of coin. There are coins that are just pump and dump and those ones are only used to make profits I a short time after which you then dump them. If it's coins that have potentials like BTC, LTC, Ethereum and the likes, you can hold for as long as possible since they would appreciate in the long run.

 

[Ahmedo24]

Talking about how long one is expected to hold a coin. I would say it's really dependent on the type of coin. There are coins that are just pump and dump and those ones are only used to make profits I a short time after which you then dump them. If it's coins that have potentials like BTC, LTC, Ethereum and the likes, you can hold for as long as possible since they would appreciate in the long run.

That's correct those coins that pump and dump easily are mostly reffered to as shit coins Which are not actually advisable to be held for long however coins like Bitcoin , ethereum, doge etc ,in my opinion should also not head more than 6 months to a year because they flauctuate but we can always sell and rebuy to avoid losses which could halt our plans.

 

[Bookwormlux]

That's correct those coins that pump and dump easily are mostly reffered to as shit coins Which are not actually advisable to be held for long however coins like Bitcoin , ethereum, doge etc ,in my opinion should also not head more than 6 months to a year because they flauctuate but we can always sell and rebuy to avoid losses which could halt our plans.

An analyst made a simpler explanation for these shitcoins by saying one should try their best to buy them before they get listed on binance. It is that season when they are being listed on binance that investors make lots of profits. Before new investors come in, the party is already over.

 

[Ahmedo24]

An analyst made a simpler explanation for these shitcoins by saying one should try their best to buy them before they get listed on binance. It is that season when they are being listed on binance that investors make lots of profits. Before new investors come in, the party is already over.

This explanation could be true but to a variable extent most shitcoins listed on coinmarketcap first then they move to trust wallet before few of them are eventually listed on binance and they usually have short time increasing their price but the major hike in price usually comes immediately they have value in trust wallet so buying them before they are listed on coinmarketcap is the best or immediately they have value on trust wallet.

 

[Bookwormlux]

This explanation could be true but to a variable extent most shitcoins listed on coinmarketcap first then they move to trust wallet before few of them are eventually listed on binance and they usually have short time increasing their price but the major hike in price usually comes immediately they have value in trust wallet so buying them before they are listed on coinmarketcap is the best or immediately they have value on trust wallet.

Yes that's true, whether on trust wallet or on coinmarketcap, most individuals who really understand the system try their best to get into shitcoins in their Early days of inception so as not to suffer losses when others have already taken out their Profits. This is usually the case with new investors who don't understand how things work.

 

[Ahmedo24]

The sad thing is that most of the shit coins that got listed on coinmarketcap during this crash has not been able rise as supposed very likely because of the Bitcoin market, I have held safemoon cash and Peacock for more than a month and I haven't be able to trade them because the price has not rise but hopefully if the market recover the developers could burn the coin.