Better to hold out, or should I be considering swapping old tokens into ones with more potential?
Better to hold out, or should I be considering swapping old tokens into ones with more potential?
Been holding the majority of these coins since December 2021, I’ve had multiple opportunities to sell for break even and some of the coins for a decent profit, but I made the mistake of being greedy and now I’m left with coins I don’t see value in anymore, any advice on whether to ride it out with them or should I swap them into more promising projects? I’ll list below the coins I have and the current P/L as of today;
•Near Protocol £109 value and an L of £50 currently •Polkadot – £122 value and an L of £300 currently •Polygon – £130 value and an L of £600 currently •VeChain – £150 value and an L of £230 currently •Shiba – £420 value and an L of £450 currently
Any advice is welcome, I know my situation is my fault for being greedy and I’m fully aware of that, just looking for a discussion as to the best way of moving forwards
You are spreading yourself too thin IMO. Even if you hit a 10x on some of those you won’t be making much. I would swap all of that into BTC and maybe allocate like 20% into one or two alts, but that’s just me.
Yes, what you are describing is opportunity cost
Rationally you pick the asset that you think will perform the best from today to your predefined time horizon, irrespective of what you already hold (as otherwise you succumb to sunk cost fallacy)