I’ve seen tons of videos and as well as comments of people saying they will hold until Tron reaches $10 or XLM moons at $99 or Dogecoin reaches $1 and they all seem to think it will happen within a few months. I am here to explain why that is not a smart strategy for investing and why tempering your expectations to something a little more reasonable will make you much more money in the long run.
First you have to look at where your predictions where leave the coin in terms of marketcap. Tron at $10 and XLM at $99 would leaves both those market caps at or over $1 trillion. Even a full partnership with Alibaba would not make TRON worth $1 trillion because even Alibaba is nowhere near that number. The only two companies on earth worth that much right now are Apple and Amazon and no cryptocurrency is nearly at the state those two companies are in. Doge at $1 is more reasonable, but it still would put it at #2 in cryptocurrency marketcap which I think is overly ambitious for Dogecoin. A spot in the top 10 or 15 is much more reasonable.
If you are determined to hold until prices reach those kind of targets, you are doing yourself a disservice because.
1) They may never reach that high(those are truly pipe dream numbers)
2) You are missing out on the chance to sell at a high and then buy more coins when there is a correction which almost always happens in this market.
A couple of of times selling at the peak and buying when its low will make you just as much money as that one ride to the moon and you are much more likely buy lower and sell higher a few times than mooning even once. Each time you sell high and buy low, you are compounding your profits and like compound interest that will quickly add up and overtake that 1 time your coin actually moons, not to mention the 99 other times where it didn’t moon and you actually lost money.