I figure it is helpful to know how new investors view the market and who better to hear from than me. I would love to hear advice in the comments so that I can learn and help this community/new technology grow.
I've been invested in bitcoin for 4 months (minus 2 days in 2016) and started in alt-coins this week. Here is a timeline of how I learned about cryptos and what I was/am thinking.
Nov. 2016- First heard of bitcoin through a gambling site.
Dec. 6th 2016 (BTC=$769): Cashed out $450 from the gambling site into Coinbase.
Dec. 8th 2016 (BTC= $767): Transferred $447 to my bank account from Coinbase because I didn't like that my money was going down in value.
... Forgot about Bitcoin for 8 months
August 24th 2017 (BTC $4,390) Watched "Banking on Bitcoin" on Netflix and realized my $450 that I originally had would have been worth around $2,000. Realizing Bitcoin might be the real deal, I decided to re-download Coinbase and put some money back into Bitcoin. My goal at this time was to acquire 1 BTC within the next year.
November 2nd 2017(BTC=$7,010)- Started to realize that It was going to be very hard to reach my goal of 1 BTC. Changed my goal to half a BTC. I bought what I could afford, while still having emergency money in my bank account. Told myself I wasn't going to buy anymore after it reached $10,000. This is when I really started reading/learning about the technology.
BTC hit above $10,000 late November. I was having an internal fight of whether I was going to keep my promise or invest more.
November 30th 2017 (BTC $9,942)- The price dipped and I saw my chance. I took the money out of my emergency fund and purchased enough to have just under half a bitcoin. (I know this was stupid)
December - I've been telling my friends and family about my success, but cautioning them of the risks. I connected with a friend of mine who seemed much more knowledgable than I am and he started talking about these things called alt-coins. Our talks caused me to believe that the ceiling on alt-coins was much larger than the ceiling on bitcoin in the short future. I had also been reading about the .com bubble and fears have started to come in.
I have this hypothesis that bitcoin is going to have a decent sized fall before the futures expire January 17th and have decided that I'm moving all my bitcoin into Alt-coins.
This week I cashed out half of my bitcoin and invested the other half in altcoins.
I know that time is of the essence and admit that I might have a little FOMO. I spent my entire Sunday researching alt-coins and basically narrowed it down to the coins that I thought had the best chance of being added to coinbase. I split my money between 9 alts I thought had the best chance, but also had decent followings on reddit and then I bought some FUN because of the gambling aspect and how the team has a business background.
I've been very lucky so far and have really enjoyed the ride. I plan to get back into bitcoin but want to see what happens after this first round of futures. I don't want to upset anyone with how naive I may or may not be, but just want people to understand where my mind is as a newcomer.
I would really appreciate some steem, as I don't have any because this account was created yesterday.
Thanks for your time!!!