NOT 1D. Why I Avoid High-Risk Altcoins: Lessons from NotcoinBINANCE:NOTUSDT
Before investing in altcoins, it's crucial to thoroughly analyze them and understand the associated risks.
In classical investment strategies, two key factors are always relevant: buying at a good price and selling at the right time. For example, with Notcoin, after 114 days, the token price returned to the $0.007076 support level and showed only minor growth. In the same timeframe, Bitcoin and many altcoins have already doubled in value since August 2024. Let that sink in.
In my opinion, buying altcoins like Notcoin may not be advisable, as their growth is often less significant compared to Bitcoin and other major altcoins. This makes such investments risky, at least in my subjective view.
If you hold tokens obtained from airdrops, it’s essential to sell them when prices hit their peak (ideally at swing highs), as these tokens are likely to see a sharp decline after reaching their maximum value during overhyped periods.
Specific Outlook for #NOT:
I expect a correction to the $0.007076 support level, followed by a rebound to the $0.017544 resistance level. At that point, I plan to withdraw my initial investment and might even lock in some profits from my main position.
Overall, I urge you again to avoid taking excessive risks with altcoins. Diversify your portfolio and aim to sell these types of assets at their peak.
DYOR.
