Onizuka

I wouldn't be in that point because I would have monitored my investment daily instead of just checking back after 6 months lol. I would have cut at -5% or even -8% and waited for an opportunity to re-enter. Many big losses start at small, and with proper management they should stay small. Protect your capital so you can always make when the market is more "green".

No. The opportunities are always there especially in a volatile market like cryptocurrency trading. If one was open to shorting, then this 2018 market would have been very profitable for them. Imagine all the plunges that could have been profitable if you placed shorts at the right prices.

Not now but when it establishes support probably at around $3.6k or lower at $2.8k~$3k. I've had an average entry price of $6.2k and had cut at $5.9k when the breakdown happened for a -%5 loss. If I buyback when the support is visible then that -5% risk fee will be easily recovered and then some more. One of the most important things in trading is to have a risk management plan e.g. risk -5% for a chance to gain 25% for a 1:5 risk-reward ratio. It's way better than blindly buying and/or hodling.

Let the market settle down first. Also, try to open an account in an exchange that allows shorting so you can make money in this bear market more easily.

Definitely disappointed. After a few months hovering mostly above the $6k level, one would be more inclined to believe that a support base was forming, but we got a breakdown instead of a breakout. On the plus side though, btc is relatively cheap for a 2019 rally.

The technology behind btc and cryptocurrency in general - blockchain - makes them relatively safer compared to other currencies. Cks003 already gave the technical explanation of it. Here's a real life case of how that technology worked: https://cointelegraph.com/news/530-million-in-xem-stolen-from-coincheck-can-be-traced-nem-team-confirms Millions worth of XEM were stolen but were rendered useless to the thieves. Note that the theft happened because of the exchange's lapses, not the coin or its blockchain. Generally, the risk that people most people are scared of is not the cryptocurrency but the proliferation of scams and/or failed ICOs and the lack of safeguards in such situations because there are no laws that cover such situations.

Banks and Blockchain are polar opposites. The current system is based on centralized regulation, hence why banks and governments partner up. Cryptocurrency and blockchain are called disruptors because they offer an alternative method - a decentralized, not to mention faster, way of transacting. With the exception of Ripple and maybe a few other coins which ironically center on centralization, Cryptocurrency are the emerging competitors of banks.

Here's a simple investment plan: when the price doubles from your average price, sell half. You can deal with the rest more easily as the remaining assets will be profit no matter what. Doing this makes your decision making less emotional and hopefully more rational. Here's an example of how it might play out: I buy $1,000 worth of btc at the 6500 level. Btc then goes to 13k. I sell half of my position which translates to 100% of my original investment. I hold the other half for how far btc might go with profit points set. I can do this easily because I'll be thinking, "I've got my capital back; this is just a free roll of my profits. I've no risk of being in the negative."

https://www.tradingview.com/x/4IO409GP/ I'm sorry, it did go below 6000 for a few times but never below 5000. The charts are easy to search out there. The main idea still stands though. The price has been stabilizing at the 6000 level, and from a technical standpoint, this might be considered the bottom. See the link above; see how the price is just moving in a straight sideway line? We might be in the accumulation stage after the bottom has been marked, and what follows accumulation is the rally we've all been waiting for.

Bitcoin is more secure and stable, but in terms of making profit from trading coins, altcoins are better. Bitcoin's rise has made it less susceptible to price manipulation; altcoins on the other hand are relatively cheap and still easy to manipulate, hence the proliferation of pump and dump schemes in exchanges. Here's a hypothetical scenario: In a given cryptocurrency exchange, it would take $645k to clear out just 100 btc at the current level, and there's still the next few fluctuations after that. As a result, it's hard to create a surge in demand by gobbling up the supply. Not for altcoins though. $Nano for example, is only trading at $1.93 and at a much lower volume than btc. Even with only a few thousand dollars, a person could push it a few % higher and the market would follow, which sometimes results in a massive price run. The above scenarios are for whales, or those who have massive amounts of money to trade. So, how do small pocketed traders profit from that? Simple, We ride the price runs if we are able to. Using data from coinmarketcap.com, anyone can see that in 1/1/2017, btc was priced at $963. At 12/31/2017 it was at $13,170 which translates to a 1367% profit. Ripple and Verge, during 1/1/2017, were at $0.006 and $0.00004 respectively. They ended 2017 at $2.12 and $0.18. I'm gonna let you do the math on how much more that is in % profit compared to btc's x13.7. The other side of the coin is that btc is more stable. BTC is only down about 66% while those altcoins are down by much higher values for the 2018 data. Check coinmarketcap for the exact figures if you want to crosscheck what I'm saying. Basically, in terms of trading profit, altcoins are more lucrative, but you'd be open to larger risks.

It'll be hard to say when btc will go up, but it's easy to see that btc has been supported at the $6k level. Since the drop from $20k, price has remained above $6k and has never dipped lower. It's a clear sign that the bearish sentiment is fading and that it's only a matter of time until we get back to being bullish.

Cryptocurrency and blockchain are here to stay. Despite and the FUDs, and the doom and gloom about the btc bubble, more and more institutions are either investing, adapting, or developing their own cryptocurrency products. Bitcoin will be almost a decade old, and it has come a long way from its less-than-a-dollar origins.

1. I'm not sure about your situation but it seems you received coins from ICOs or from airdrops, otherwise you'd probably not be asking these questions. The easiest way would be to wait for those coins to be listed in exchanges like Binance or Coinbase and then trade them for other coins or to fiat if the exchange allows it. This event of listing usually happens a long time after a coin's ICO so chances are more likely that the coin has appreciated in value. 2. As for your second question, I have no personal experience with those as I have not tried faucets because I have read that faucets leak "droplet" levels of coins and are thus more of a side profit than a direct profit. It's free but it'll take a long time to get meaningful amounts, and there's also the risk of it being a scam. 3. You trade these lesser known cryptos into btc, and then you can more easily convert btc into usd or some other currency.

No. What you're proposing is similar to gambling. You might think you're doing some kind of risk management by spreading your chances but that amounts to nothing when you blindly pick your altcoins. Coins/tokens have their own white paper that you could read to determine what the coin is, what it might be used for, what the future plans of the developers are. Also, your thinking of 1 or 2 out of 10 is inaccurate as there are hundreds of failed ICOs for each "decent" altcoin. You are better off investing in or trading the "established" altcoins.