I have been on the crypto scene since the tail end of the last bull run. I was one of those caught in the hype. I couldn't help but throw my dirty FIAT at the coins which were showing massive returns.
Even though, at that time some were already stalling.
That was fine, it was a buy point. The tokens were on sale I told myself.
It wasn't just me that was saying that. There was a feel in Crypto that this was just a pullback. A bad one yes but just a bump in the road.
Then the coins kept falling. Falling and falling.
My portfolio, like others, lost over 90% of it's value. Even my BTC was reduced to almost a fifth.
Like everyone else, I set my shoulders straight and proudly proclaimed I was a hodl'er. This downturn was merely shaking out the weak hands.
And so, I continued to hold. Or hodl. I hodl'ed and hodl'ed and hodl'ed.
Nothing much changed. If anything my bags, which ranged from XEM, ADA, DGB, XVG, XLM and EOS inclined down further.
That's ok, I thought. As did many others. The next bull run is coming. The tide will lift all boats.
Then DeFi came.
Suddenly there was new tokens. New markets.
Liquidity pools and staking became the big thing. DeFi coins started ramping up in price giving incredible returns.
The old School alts however, they stayed the same.
There is a buzz in crypto and the only old school coins that seem to get a look in are BTC and ETH.
So the question is, are our old bags now just baggage? And if so, is there any point in keeping them?