Topic: Are the Altcoins Going to Dip in Short Term? - page 4. (Read 534 times)

You have already done good research on the market and what you are expecting is to happen. I can see it has already started and it will continue till the halving is completed. The demand is only for Bitcoin and not altcoins as you said only those who have their bags full or those who are accumulating are trading in altcoins. There is less demand for altcoins it will be over if the spot ETF of Ethereum gets approved. Most of us doubt that it will get approved the first time, it will take some time and then we will see a rally in altcoins with the expectation that other altcoin ETFs might come into existence. Currently, the market is going through a correction but I do not think it will go down as you are expecting.

The thing you have to remember with altcoins is that most of the time, when they dump they won’t go back up anymore. Maybe they will but they surely will not reach their ath or let alone surpass it. Maybe some will so it depends on which altcoin you are holding.

But I think your plan is good. It’s better to take as much profit as you can when you can. I don’t know about long-term investment though as like I said altcoins are very volatile and more often than not only reaches ath once and never again. But if you truly think this is a coin worthy of long-term investment then do what you feel is right.

Actually, you already know how the market moves, especially in the current situation and the setback that occurs is only temporary or a healthy correction, because after this the market will bounce back and we are approaching the halving and Bitcoin is also experiencing a setback and everything is only temporary.
And the attitude we have to face now is, we have to remain calm and don't panic. It is best to take advantage of these pullback moments to accumulate your holdings and hold them for the long term until the market returns to bullish conditions and then sell them as you see fit.

had you made your mind few days ago you've already made the right call, the market does indeed corrected, even when bitcoin is rising up to $70k so many people are already predicting that there gonna be a pullback anyway you know its like tradition in crypto world whenever there's a bitcoin massive rally the correction always awaits at the end of the day.
therefore its kinda obvious.
but honestly this pullback just means more accumulation, if you successfully sold your altcoin at the peak, you can try to buy again to get massive profit since its obviously gonna climb up again anyway imagine a correction when the market sentiment is full of greed people are buying, thats why the pullback is not so massive.
but then again don't take this as a financial advice. but you should do analysation of your own.

I don't know where your assumptions are coming from. No one is dumping Bitcoin on anyone. What we've seen so far in the market is expected. It's called market correction. Those who got in early will always find a way of taking profit, either partially or completely with an aim to buy back cheap. This action of theirs can trigger paper hands to panic and dump without knowing why others are dumping. Anyone who's dumping Bitcoin now is doing themselves a disservice because Bitcoin is yet to experience its halving which is the main thing that makes price to skyrocket.

While no one will serve as a financial adviser to you here, I guess my comment above answers your question.

During a pull back or market reversal or retracement, Altcoins most especially the shitcoins like memecoins or very low market cap coins becomes a thing of worry because their dumping might be the final fall for most of them or even if they should peak again some wouldn’t go back to where they were pumped back to. So the best way to trade Altcoins is certainly in a short terms. So if for example you have conviction about a certain like maybe the utility and use potential looks promising then the best thing is to take out your capital and then probably take out some partial of the profit and then at a later stage you will DCA this profit back into the market when the it falls more and should it raise again you might be having a large position size going back in.

Note that this partial removal is subjected to the the amount of pump the coin must have gone up before on. If it did at least a 6x then the above strategy might work fine but if it is less then just take out your capital only probably use little from it to later DCA back.

Never make a mistake of not taking profits of a pumping altcoin. The least regret will be taking profit early and not losing

Altcoins are not to be kept for a very long time, amd you should be careful with your dealings with these altcoins that you are holding, and don't invest more in altcoins.

The ball is in your court, and only you know how you have planned to be with these altcoins. If I were in your shoes, I will sell them of, because they are for short term, and like you said that you have made multiple profit. Don't you think it is time for you to take profit, because currently the correction in bitcoin price is ongoing, which is what controls the price movement of some of these altcoins. Sell them and invest in bitcoin, as there is a bright future ahead for bitcoin.

My only opinion, don't later regret and come crying that I told you what to do. Like I said, only you have the right to decide for yourself, because you will be responsible for your your own actions.

A 30%+ retracement is very possible given that the market has been undergoing a strong uptrend movement over the past few days or weeks. It's only normal for it to correct before the next upward move, so it's all up to you to just sell the top and buy the dips or just keep the coins there and ride with whatever wave comes by until you are contented with taking profits.

My only advice is, know when to take profit and when to enter the market. It is not as easy as it looks.

Hi all,

First time posting here. I have a bit of alt-coins in my tax free account where I can trade regularly without incurring taxes (cannot distribute).

My investments across multiple alt-coins have yielded handsomely in the past 1+ year. My question is:

Should we expect a relatively big pull back in the short term (30%+) with the top 50 alt-coins in the next two months?

I know the market appears to be in a mid-way bull market rally, but after a relatively strong upward movement recently, I feel like there has to be a temporary drop for the market to breath. Given that I wouldn't be paying taxes on these sales, and crypto doesn't have a wash sale rule like equities, I wanted to grab my profit and wait for this hypothetical pull back before investing again for a bigger gain down the road when we might see 5x - 10x by the end of this year, or early next year.

My reasoning is, the whales have dumped their Bitcoin on the institutional investors/Trads in recent months as the Bitcoin ETFs have become available, but they are only seeing bag holders on the alt-coin side, and not seeing newcomers to buy alt-coins from them in order to eventually dump them on the newcomers.

My dilemma is, should I sell now, wait for the short-term pull back, go back in and sell in the long term, or is this a foolish sentiment?

UPDATE (March 19): Well, f*ck me! My hunch was right, and I missed the opportunity. Diamond hand prevailed.