I missed the wave so what now?


#1

I missed the wave so when is Nem gonna make me some coin?
I sat it out and bought at the lows, I ignored the peak and when it dumped harder I got some more.
Can someone who is at least a pro investor throw a few words of kindness my way?

I am starving here, the winter of bear market lows have been really depressing.
Give some love!
A word, a hello, anything…
Dan


#2

Hey, I can tell you that you are a bit frustrated. And I can assure you you are not alone. I can not give you a pro. Advice, but one based on logic and experience.

Should you need the money you have invested, sell at the best possible next time. Unfortunately, this year it is even more difficult to predict a market movement than in the last one. It seems that there is a general rejection for crypto at the moment. Even positive news has no real impact on prices. In addition, the use of public chains seems increasingly unlikely.

If you do not need the money, hold on tight and enjoy the ride.


#3

You’re not the only one. I’ve been into NEM since the beginning, and had a very large amount, at one point I sold 1M XEM around May 2017 when the price was around 5c only for it to go to around 30c a few weeks later. Buying back at the lows and selling relatively smaller amounts later I managed to get back to a substantial amount of XEM in the many millions. When it reached between $1 - $2 from Christmas 2017 to early January, the think that prevented me from selling, was I remembered the time I sold them at 5c and they shot up a few weeks later in May 2017, and I thought on this new ATH in Dec 2017 that XEM would go even higher and didn’t want to miss out. But I missed the peak, then XEM drops gradually throughout the year (as did the majority of other cryptos). I could have cashed out and been a multi millionaire, and re-bought 10 times the amount at today’s prices and configured many supernodes. There is a regret, but all I can do is learn from it and not make the same mistake again next time and not be so greedy. I didn’t know what I know now at the time, so I’ll just have to accept it and learn from it. Having said that with some of the proceeds from sales, I did manage to clear my mortgage, buy a very nice car, and still have many XEM, some BTC and many other cryptos I bought in 2014, and invested in some ICOs and some other new cryptos last year. When the next ATH happens when the this bull market ends I will sell in stages and buy back more XEM when the bear market happens after the ATH, then set up many more supernodes.


#4

Hi Satkb
I dont have anything near 1000,000 XEM.
I do not think it was greed in my case or yours I think we were just happy that the market might correct and stabilize at a moderate value and the benefits of long time holding would be that.
When XEM hit 1.80USD which was at the time around 2.00AUD I knew it would drop yet I never thought it would dump to a point below what I had paid.

I knew it was a bubble, yet my lack of trading experience let me think that it would correct as it had been doing June 2017 to December 2017, which really only seen corrections of 30% - 50% max, now we are seeing a correction of 90% - 95%, with around 9 months with no bounce back.

Cheers , thanks for the insights.
Dan


#5

Hi Dorian
No not overly frustrated, I bought most my XEM below .10c, .20 and .30 respectively, I may have lost a bit of investment value, but I never had huge money in there so I am not overly in need of the cash.
It’s all a bit of a learning curve for me, maybe if I was really in need of the cash it might push me to do something more with this investment rather than just “Blowing in the wind”.

Cheers
Dan


#6

I’m quite confident that the highs will return, just not in the short to medium term. I wasn’t expecting 90% drops either, if I had known that I would have sold and bought back cheaper.

The 2017 bull run happened around 12 - 18 months after the BTC halving, and similar things have happened in the past after halving. In 2017 there was a lot of activity, i.e. ICOs, BTC forks, there was a lot of liquidity due to “free BTC” from the BCH fork and potential Segwit fork that was due in Nov, but didn’t happen. There was a lot of mainsteam media reporting of the BTC price rise which informed the layman to invest into BTC and other cryptos. The FOMO principal applied in this case, and many people were even buying crypto with their credit cards and remortgaging their houses.

My theory is that the next halving will have a positive effect on the price of crypto, also if BTC ETFs get approved and there is regulation of crypto this will allow institutional investment to come in. Some big institutions are already investing in crypto, for example Yale university invested part of its endowment in crypto hedge funds, this is adding legitamacy to crypto, I think the next bull run is going to bigger than anything we’ve seen before, and my prediction is that the next peak of BTC and most of the top altcoins including XEM will be around Dec 2021. Then a bear market will follow, it’s all cyclical.

This is not investment advice.


#7

Following on from the Yale University Endowment fund investment into Crypto. Further institutional investments:

https://www.ccn.com/breaking-harvard-stanford-mit-have-all-invested-in-cryptocurrency-funds/


#8

I think there is no enough data to say that crypto market movements are cyclical.
I will be hard to repeat past speculative gains with china out from crypto trade.


#9

Sadly, I actually wanted to buy a house from the money. Has worked well for a while. My wife, put a manageable amount in June 2017. After 3 months of stagnation, it went slowly upwards. In December 2017, everything was really great. The amount deposited was about 25,000 euros, about 1/2 of the amount for a house in Romania. Since we currently live in Germany and I can not imagine that all is tax-free, I went to the tax consultant. Boom, he said risk capital is 25% tax. With crypto in the special however, after one year hold everything is tax-free. So I told her we wait.:rofl::rofl::rofl::rofl::rofl::disappointed_relieved:


#10

Actually there are similar tax laws in Australia for capital gains tax.
If you hold the asset for 1 year then the CGT tax is discounted by half.
It added to my reluctance to cash out.
I agree , keep holding, enjoy the ride!
Cheers


#11

I agree with that sentiment, they are not only investing in crypto funds but also crypto projects/crypto companies (which is very cool).
This hints that there is an “engine” in the making behind the scenes, whether it be a success or not is speculative, yet IMHO it’s a great start!
Cheers
Dan


#12

In truth do you think China will hold off forever?
China these days are leaders in development in many technological areas.
Since the last 60 years or so China has had many lucrative international investors.
I would be a little cynical on speculating that China is “out of the crypto trade”.
That is a large call.

Cheers
Dan


#13

Crypto bubble happened mostly because Chinese were transferring
large chunks of money out of China via crypto channels and cashing them out on offshore accounts
It had nothing to do with technology investment.

https://www.ccn.com/china-targets-domestic-crypto-investors-trading-overseas-platforms-report/

People there don’t have access to free internet, do you think china will allow epic money
drainage out of country again?


#14

The great myth of the bubble I beleive is that the USA was dormant.
I remember being in Telegram and folk would oh it’s a pump, Korea and Japan are waking up, blah blah…
yet the biggest pumps I observed came in to play when the USA was waking up.
So it may be a layman’s guess but I would still say it’s a large call to say China is out of the game (China working closely with and as a competitor of the USA, they cannot bury crypto), you may be correct in saying the Chinese speculative boom is over.
But possibly it’s too competitive a technology to ignore?

Cheers
Thanks for the insight :smiley:

Dan