Good day,
I'm not writing this to discuss whether Icon is a good project or not, without any doubt it is one of the best blockchains in the field. I'm here to share with you the reasons that made me think that Icon is not the best long term investment from my perspective.
1- The actual circulating supply for ICX according to Icon's official website is 800,460,000 icx and not as stated in coinmarketcap.com, 388 millions, which makes the current market cap, even though in this bear market, about 1.1 billion. That's double the current market cap.
Go to Icon website > Icon Tracker
2- When Icx price reached ATH, about $11, the circulating supply was less than half the current circulating supply and the market cap was 4.4 billion. Therefore, if the price reaches $11 again, the market cap will be more than 10 billion. I believe that this number is not very easy to achieve.
3- One of the biggest mistakes that i made before is loving the coin to the point that i don't take profits when it goes up. Icon was my favorite coin of all time, i did not dare to take profit or put a stop lose on it, until i started to lose money. I know i don't lose when i don't sell, but considering the number of times it went up, i lost profits and some of my initial investment. This mistake made me miss more than 3x's. Even if investing for long term, taking profits is very important.
So, here is my new investing strategy:
1- Finding new projects with low market cap.
2- Infrastructure projects and exchanges coins are my priority. Always DYOR.
3- Projects with working products or upcoming products, like Sirin labs.
4- always take profits and re-invest.
5- Always find good entry points and accumulating zones.
6- stay updated with your investments, look for any upcoming events.
I'm sharing this with you guys because i started to get more profit after i made many mistakes and learned from them. Maybe this would help someone out there. I started trading a year ago with a $1,500, and now i have more than $20,000 just because i learned from my mistakes. Sometimes, mistakes are good :) Maybe i don't have a good experience to give advices, but i saw this strategy very affective.
Feel free to share your opinions.