Alchemix is a DeFi platform enabling the generation of synthetic tokens reflecting the future yield of a deposit. It offers flexible instant loans that autonomously repay over time, mitigating the risk of liquidation when leveraging positions.
Why am I telling you this? One of you asked me if they could HODL $ALCX for a month! So yes, of course you can, if that's your defined strategy, stick to it and don't let adversity or third-party opinions sway you! If, after a month, the value of this cryptocurrency has dropped below your buying price, you can rethink your strategy to see what changes you can make based on your analysis! Personally, I've learned that closing your eyes for months without analyzing, only to check the price of an asset again after weeks (that's not Bitcoin!), doesn't work.
But everyone's different! You should understand that there are different strategies... you'll learn all this on the fly, and your experience is worth gold! I'll leave you with a technical analysis chart, tell me at what prices you bought (and when) to see what I would do in your place!
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