Help to rescue - page 2. | Bitcointalksearch.org

asriloni

legendary

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Quote from: a298b112 on July 16, 2023, 04:07:48 AM

I have DOT in my portfolio and it is down 79% as of today. The amount I've put there is quite big for me. The average buy price per DOT is 25.80USD. The price of DOT today is 5.38.
So the question is what are my options to rescue the money I've put into it? Is there anything I can do or I just wait?

There's no good progress was coming from DOT. Holding it gonna be only wasting your time. You have two choices at this moment.

1. You can cutloss and investing your money in a better coin in the market.

2. Keep holding your asset with the hope it can recover anytime soon but you shall also try to be aware if your portfolios can also decrease even deeper.

You must take the risk. You can hold till bitcoin to reach another ATH again but no ETA for this. You may need to hold it for a few years more from now. It's gonna be a big gamble for you. I just remind you this.

It's very hard to pick the best choice in your position. It's caused by you may also think for twice before try to take the decision that will be involved big risk for your investment.

_act_

legendary

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Lightning network is good with small amount of BTC

Quote from: a298b112 on July 16, 2023, 04:07:48 AM

I have DOT in my portfolio and it is down 79% as of today. The amount I've put there is quite big for me. The average buy price per DOT is 25.80USD. The price of DOT today is 5.38.
So the question is what are my options to rescue the money I've put into it? Is there anything I can do or I just wait?

Continue to hold it is my advice for you.

Quote from: cytpoway121 on July 16, 2023, 11:03:10 AM

Accept defeat and cut loss by selling the token at 79% loss.

Seriously! To sell at 79% loss? That is not a good advice in my opinion.

Bitcoin is at $30000 and it will likely rise to $100000 and increase more than that, but it will take months. By that time too, Dot would have increase more in price to the extent he will recover some unrealized losses or the investment may later become profitable.

Only traders should accept losses. Investors too can accept losses sometimes, but not like this one.

a298b112

member

Activity: 143

Merit: 36

Thanks a lot for all the suggestions.
Couple of points:
1. DOT is not only asset in my portfolio. It is just the one that is most down. 79%
2. Sometime ago I started DCA BTC, now it is up 17%.
3. There are other couple of altcoins, however they are also down from 30% to 50%

I think I will continue DCA BTC and if I will have some free money then I will DCA DOT as well.

$crypto$

legendary

Activity: 2394

Merit: 1049

Smart is not enough, there must be skills

Quote from: a298b112 on July 16, 2023, 04:07:48 AM

I have DOT in my portfolio and it is down 79% as of today. The amount I've put there is quite big for me. The average buy price per DOT is 25.80USD. The price of DOT today is 5.38.
So the question is what are my options to rescue the money I've put into it? Is there anything I can do or I just wait?

That is a very drastic decline, what if you keep waiting and the price never returns to the price of all you bought, it is still your loss that must be borne, and that is why altcoins when there is a drastic decline it is still very difficult to recover but it is different from bitcoin if at the lowest point this coin will definitely return to the highest price again so I don't dare to put so much money in altcoins.

Try to hope to wait for the altcoin season who knows the price of DOT back at your purchase price point, but I'm personally not so sure even though this coin is said to have a large community, but you better look for other opportunities to cover this loss.

kotajikikox

full member

Activity: 2548

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Quote from: a298b112 on July 16, 2023, 04:07:48 AM

I have DOT in my portfolio and it is down 79% as of today. The amount I've put there is quite big for me. The average buy price per DOT is 25.80USD. The price of DOT today is 5.38.
So the question is what are my options to rescue the money I've put into it? Is there anything I can do or I just wait?

you should have asked this when you start seeing dropping to 20% , you just made us hard to advise the right thing since you invested in shitcoin , but considering that Polkadot stays in rank 13 then there are still hope from your concern .
if you are not in a Hurry then continue holding as there might a miracle in Bull market and you'll get back the capital and may earn profit,
but if you are doubting this coin nowadays then best to sell and change plans , at least try XRP as it is increasing and will increase more after winning the case against US SEC.

Ojima-ojo

hero member

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Quote from: a298b112 on July 16, 2023, 04:07:48 AM

I have DOT in my portfolio and it is down 79% as of today. The amount I've put there is quite big for me. The average buy price per DOT is 25.80USD. The price of DOT today is 5.38.
So the question is what are my options to rescue the money I've put into it? Is there anything I can do or I just wait?

Ops the expert market decision for you right now is to keep on holding your DOT for as long as possible to see if the price will recover back to your bought price so as not to be in lost and more also, you must have understood the risk associated with most of the altcoins because you must have to hold them only for speculation and not for long term and what I have noticed also in your case is that you bought that dots when the price was at all time high which is not the best buy decision for anyone.

But since the deeds have already been done I think next time before you hold any coin you must first have a good knowledge and when to act because altcoins are gamble and nothing more, today their price is at the moon and next day their could possibly drop to zero.

blockman

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You only have a very limited option, if you're at a big loss now. It's either accept that loss you've made or be patient and wait until it recovers and while waiting for its recovery, you can add more so that you'll also be able to capitalize on that whenever the time comes for it to be up again.
Everyone's idea is good if you're going to read all of them but at the end of the day, only you can know what option is the best for you. Many of us here have been in the same position and we just did what we think is right, to cut loss or DCA and hold.

michellee

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You have two choices, sell it or keep waiting. If you sell now, you are still at a loss and there will be no chance to profit because you don't own the coins.

But if you can still wait and hold the coin, you can get another profit, especially if the price can go up and exceed your purchase price. But sadly, we don't know whether DOT will be one of the coins that can rise high in the future or if it will stay like this. So your choice is still to hold it while you wait.

But you can also buy DOT again while the price is still at the current price to get an even lower average purchase price. But that's up to you because to buy DOT again, you need money.

dimonstration

hero member

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Dimon69

Quote from: stompix on July 16, 2023, 10:07:36 AM

Quote from: dimonstration on July 16, 2023, 09:35:21 AM

Taking profit now is useless since the price is already at the bottom while there's no guarantee too that the price will recover to your buying price.

Can you please let me know the brand and model of your crystal globe?

I love how easy it's for you guys to talk about the risks of losing all your money when it's somebody else's money, it oversimplifies things as much as it can! Just hold! I wonder why nobody is talking about him buying more and more!

His initial investment is already turns to 20% with the current price. I'm considering the supply ratio on my suggestion which we all do even with Bitcoin.

The risk of losing all of his money is already on 80% completion when he create this thread. I understand that there's a possibility for this token to go deeper but considering how much he loss already makes me wanna go to hold instead of re-investing on other tokens at this moment.

Quote from: mk4 on July 16, 2023, 10:35:51 AM

Quote from: dimonstration on July 16, 2023, 09:35:21 AM

The current supply of DOT tokens is almost fully diluted which means the current price might be the lowest range it can be. Problem you enetr when the circulating supply is only small while the lock tokens keep unlocking that being absorbed by the orderbook liquidity.

A token having it's total supply almost fully released doesn't automatically mean it can't drop lower. Demand is still a very important metric.

DOT still has a demand until now. It's rank 13 on marketcap with 100M trading volume on daily basis.

Quote from: mk4 on July 16, 2023, 10:35:51 AM

Quote from: dimonstration on July 16, 2023, 09:35:21 AM

Taking profit now is useless since the price is already at the bottom while there's no guarantee too that the price will recover to your buying price. Holding is your only option and add more liquidity to by more until you breakeven when the price move up. This your only way to rescue your loss by adding more fund to cover your losses.

That's called sunk cost fallacy, in which it is definitely not the best way of looking at investments.

Correct too, But are we using this on Bitcoin investment? Suggesing to buy more when the price dip?

Ultegra134

hero member

Activity: 1680

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Quote from: a298b112 on July 16, 2023, 04:07:48 AM

I have DOT in my portfolio and it is down 79% as of today. The amount I've put there is quite big for me. The average buy price per DOT is 25.80USD. The price of DOT today is 5.38.
So the question is what are my options to rescue the money I've put into it? Is there anything I can do or I just wait?

First of all, are you in dire need of money? If yes, then you may be forced to sell, otherwise I don't see a reason not to wait. Did you acquire many coins that put your financial state in a tough situation? If none of these apply, then I'd simply hold your coins and wait for a recovery. Polkadot's ATH was at approximately $50, which means that it has a decent potential for a recovery. Although you have purchased exactly in the middle, the current price is possibly the lowest it could be at the time, as it was unfortunately affected by the SEC lawsuit.

My advice, simply hold and if you're up to invest any further, I'd use the DCA technique that other users suggested. In that way, you'll lower your average purchase price, while it's a great opportunity now that it's affordable.

cytpoway121

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Quote from: a298b112 on July 16, 2023, 04:07:48 AM

I have DOT in my portfolio and it is down 79% as of today. The amount I've put there is quite big for me. The average buy price per DOT is 25.80USD. The price of DOT today is 5.38.
So the question is what are my options to rescue the money I've put into it? Is there anything I can do or I just wait?

After investing into an altcoin; the chances/options are limited for you when the markets get bearish.
First you need to go back to the drawing board and figure out what the future holds for the dot token;

will the token price bounce back?
will the token survive long term?
is the token devs ticking the right boxes to improve the product value?

Getting answers to these questions put you in the right path

Quote

Is there anything I can do?

You can do one or two of the options below.

Wait
Practice DCA; since you are 79% down, an investment means you can buy cheaply and increase your holding, when the prices goes back to basic price; you will be 80% up. Please do this if you get credible answers from option above.
Accept defeat and cut loss by selling the token at 79% loss.

Please review the research options and make a good decision.

mk4

legendary

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Quote from: dimonstration on July 16, 2023, 09:35:21 AM

The current supply of DOT tokens is almost fully diluted which means the current price might be the lowest range it can be. Problem you enetr when the circulating supply is only small while the lock tokens keep unlocking that being absorbed by the orderbook liquidity.

A token having it's total supply almost fully released doesn't automatically mean it can't drop lower. Demand is still a very important metric.

Quote from: dimonstration on July 16, 2023, 09:35:21 AM

Taking profit now is useless since the price is already at the bottom while there's no guarantee too that the price will recover to your buying price. Holding is your only option and add more liquidity to by more until you breakeven when the price move up. This your only way to rescue your loss by adding more fund to cover your losses.

That's called sunk cost fallacy, in which it is definitely not the best way of looking at investments.

stompix

legendary

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Blackjack.fun

Quote from: Mr. Magkaisa on July 16, 2023, 05:14:21 AM

- You know as long as your not selling it, even if you bought it at a high price in the market before, you will still get it back. How? the only thing you can really do to recover and still make money there is to hold and wait for the Bull run to return.

Yeah, majik!!!!
You just have to wait and you're going to make money no matter what shitcoins you hold
Majik!!!! Grin

Quote from: yudi09 on July 16, 2023, 05:23:32 AM

Again, the way to save your money is to wait until the price of Polkadot/DOT returns to the purchase price.

What if that never happens and the shitcoin drops to half a cent per coin?

Quote from: dimonstration on July 16, 2023, 09:35:21 AM

Taking profit now is useless since the price is already at the bottom while there's no guarantee too that the price will recover to your buying price.

Can you please let me know the brand and model of your crystal globe?

I love how easy it's for you guys to talk about the risks of losing all your money when it's somebody else's money, it oversimplifies things as much as it can! Just hold! I wonder why nobody is talking about him buying more and more!

dimonstration

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Dimon69

Quote from: a298b112 on July 16, 2023, 04:07:48 AM

I have DOT in my portfolio and it is down 79% as of today. The amount I've put there is quite big for me. The average buy price per DOT is 25.80USD. The price of DOT today is 5.38.
So the question is what are my options to rescue the money I've put into it? Is there anything I can do or I just wait?

The current supply of DOT tokens is almost fully diluted which means the current price might be the lowest range it can be. Problem you enetr when the circulating supply is only small while the lock tokens keep unlocking that being absorbed by the orderbook liquidity.

Taking profit now is useless since the price is already at the bottom while there's no guarantee too that the price will recover to your buying price. Holding is your only option and add more liquidity to by more until you breakeven when the price move up. This your only way to rescue your loss by adding more fund to cover your losses.

khiholangkang

hero member

Activity: 2184

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Quote from: a298b112 on July 16, 2023, 04:07:48 AM

I have DOT in my portfolio and it is down 79% as of today. The amount I've put there is quite big for me. The average buy price per DOT is 25.80USD. The price of DOT today is 5.38.
So the question is what are my options to rescue the money I've put into it? Is there anything I can do or I just wait?

I think it's better for you to continue to hold it, because you with a situation like the market today will be very detrimental to you, I also have a little DOT, but I am not as high as the price you buy, I bought it at $ 10, of course this If I sell, I will experience a pretty decent loss, to sell it today is a bad choice, just calm down friends because we are currently still in a state of bearish, of course for the problem of losses we all experience it in Altcoin.

Re-thinking that DOT has a pretty decent ecosystem and it is likely that DOT will form his ATH again in Altseason later, you must really be waiting for him.

Baofeng

legendary

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Quote from: a298b112 on July 16, 2023, 04:07:48 AM

I have DOT in my portfolio and it is down 79% as of today. The amount I've put there is quite big for me. The average buy price per DOT is 25.80USD. The price of DOT today is 5.38.
So the question is what are my options to rescue the money I've put into it? Is there anything I can do or I just wait?

Did you sell or not? if not then it is just a paper lost nothing else. Unfortunately though, I'm not a investor of DOT so it's hard to give advices here. And mind you, even if I'm a investor, we seldom give financial advises here.

So the best thing to do is to really is maybe just wait as you have said. It might be long though as the next bull run is projected to be in 2024-2025 and hopefully you can break even by that time.

And maybe this is a expensive lesson for you, and that you should invest majority of your portfolio to BTC.

ajiz138

hero member

Activity: 1498

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There is no other way than you continue to hold until this coin is back at its high peak or at least until you return the price back to $25, but try to wait until this next bull for at least one more year, just my own assumption.

Is all your money in DOT coins?
If you don't want to experience big losses the best advice is WAIT.
But if you have potential in other coins such as trading or types of investment in the short term you can do to cover losses on your DOT coins but keep in mind this is also not easy because it is full of risks.

Try to accumulate on bitcoin do you have plans for that? but that is my thought where buy bitcoin prices from now on and HOLD it then it will cover your losses on DOT coins.

mk4

legendary

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Paldo.io 🤖

Think that it will go back up? Then wait, or maybe buy more if you have cash.
Changed your mind and think that it's a shit cryptocurrency? Then just sell.

It's just that simple imo.

Awaklara

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Quote from: a298b112 on July 16, 2023, 04:07:48 AM

I have DOT in my portfolio and it is down 79% as of today. The amount I've put there is quite big for me. The average buy price per DOT is 25.80USD. The price of DOT today is 5.38.
So the question is what are my options to rescue the money I've put into it? Is there anything I can do or I just wait?

That's the DOT price about a year ago if I'm not mistaken. maybe you can confirm it. maybe when BTC was $40-50k. and right now we're in the $30k range.
if you still believe in the DOT, I think you can hold it while waiting for the Bull momentum to come. but the returns you get may not reach your capital. but the possibility can be reached when BTC breaks ATH and it will make an increase in the Altcoin market.

joniboini

legendary

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What kind of options are acceptable for you? If you can take a riskier approach I guess you can DCA to lower your average entry or DCA into Bitcoin or other major altcoins based on the speculation that the next bull run would give you enough return to cover your loss. You can also trade other assets other than crypto assuming you have access to them. Keep in mind those are still risky moves, you need to accept the risk and understand that it might expose you further to another loss of capital. If you don't have the capacity to do that, then I don't think it is a smart choice to do.

At the end of the day nobody is a certified financial advisor and no one knows your exact situation, so just take our posts with a big grain of salt.

Topic: Help to rescue - page 2. (Read 411 times)