Just like most investors, I started my journey as a crypto investor a year ago- March 2020. Beginners luck has worked well but faded fast.
Initial days are wavy, have made trading mistakes and lost bucks, and made bucks by picking the right set of cryptos. Coingecko is my guide, I must say it helped me to gain better insights into the new crypto markets. The more I understood the underlying technology, the more I fell in love with the cryptos.
I started with fundamental analysis, which basically means to read and understand whitepapers and navigating through the website as a means to gauge the commitment of the creators. This method has actually helped me to assess most of the recently added alt-coins. however, I realised this laymen strategy alone doesn't work for long. “Investment strategies have to be tailored and trading equations are to be self-made rather than following some random person on youtube and social media platform” a suggestion by my best friend — Suj. K.
My life thoughts: “Following his words, I started making my own set of strategies (time-consuming but enjoyed it). there are many instances where I felt that the time I wasted 4+2 yrs on getting a fancy B.Tech and M.tech degrees don't make any sense without knowing the methods to make money. However, without it, would not have met my soulmate and beautiful people.”
Getting back to crypto, I have later studied technical analysis. I believed I am well set to make life-changing gains then comes the haunting tweets from Elon which collapsed the entire market space. I Don't blame him because he is the one who hyped the crypto in the first place. My gains dropped significantly and to no luck, it converged at the negative side of the balance sheet. I am a HOLDler, and believe that there is still fuel for the bull market.
Even in the worst-case scenario, if the bull is done running, then will wait for the next 3 years and 9 months for bitcoin halving which triggers a chain reaction effect on the entire crypto world.
Final thought: HOLD is a good strategy if you made the right crypto picks based on fundamental analysis. My altcoin picks — DOT, AVAX, ETH, ADA
Note: I am not an advisor make your own decisions before investing.