Have you developed such strong conviction for a particular altcoin that it is almost impossible for you to see past the self affirmation bias? Did you develop a strong connection based on engaging/developing in the ecosystem or simply based on price? If not, have you been able to cut your ties with coins before they continued their declines?
I've seen a lot of cult like behavior behind some of the communities in the altcoin space. I think the championing behind development is very cool but the cheerleading based simply on rising prices is silly. For example, the DOGE community are die hard fans for almost no good reason. The rallying behind Elon Musk as a testament to the success of DOGE, is the worst reason ever to support a coin.
I've learned to measure altcoins in their Bitcoin pairs when it comes to investments. Whenever I am tempted to buy an altcoin during these market conditions, I take a cold shower and rethink my decision.
How's your relationship with your favorite altcoin these days?
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