Help to rescue | Bitcointalksearch.org

bitterguy28

full member

Activity: 2170

Merit: 182

“FRX: Ferocious Alpha”

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 a super low folio now mate and if I where you? since you are already in a drop investment , then better to leave that coins a while and focus in other cryptocurrency.
what I mean is that your coins must be on hold , and put another amount now but with bright mind and ask the community about their looks on that target project so you will never suffer like what you experienced now.
sad to hear that mate but this is how market goes in crypto.

savetheFORUM

full member

Activity: 1134

Merit: 140

Quote from: shinratensei_ on July 23, 2023, 07:05:45 PM

this is why diversification is essential, you could anticipate and even avoid losing much more money by just diversifying.
then again it already happened, the wisest thing is to wait until next bullrun, you already lost so much, only when you dump your coin to the market you will realize the the unrealized lose that you have.
after all usually those that bag holding for long term are the ones comes out victorious therefore bag holding for long term is the only way.
even though it makes takes years. the next bullrun probably settle in the end of 2024 but then again thats just highly speculation.

Diversification is good, for sure, but diversifying your portfolio by buying different small tokens and coins is not a very wise decision, one should invest most of their capital in the most trusted cryptocurrencies and only put a small percentage into these smaller coins by dividing it in different ones, like having 10% of the total capital divided and invested among the smaller cryptocurrencies that one finds to have the potential to provide good returns in the future.

This way, even if the small tokens don't perform so well, the bigger and trusted coins will be able to recover the money lost in the smaller investments and there won't be any loss at all, otherwise, if a larger portion of the capital is invested in smaller coins, there can be losses if they don't perform.

libert19

hero member

Activity: 2520

Merit: 952

I have a friend who is in the same situation as you, although for him, Dot did increase after his purchase but he did not sell and now he's significantly down. What he's doing now is staking, it should increase his holding to some extent, at least in terms of DOT and if DOT rises a good amount in dollars, that should be a nice profit.

Reatim

sr. member

Activity: 2828

Merit: 357

Eloncoin.org - Mars, here we come!

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?

Before you put your money on that coin , You should understand the risk because of all crypto currency what made you deposit in this kind of low moving and potential coin?
and also before putting money you have asked us and now that you are in trouble then you'll come here and ask for help lol.
sell that coin now and invest in good ranking coin or risk more time and chances for the return of that coin.

shinratensei_

legendary

Activity: 3276

Merit: 1029

Leading Crypto Sports Betting & Casino Platform

this is why diversification is essential, you could anticipate and even avoid losing much more money by just diversifying.
then again it already happened, the wisest thing is to wait until next bullrun, you already lost so much, only when you dump your coin to the market you will realize the the unrealized lose that you have.
after all usually those that bag holding for long term are the ones comes out victorious therefore bag holding for long term is the only way.
even though it makes takes years. the next bullrun probably settle in the end of 2024 but then again thats just highly speculation.

Wahyuihib

member

Activity: 601

Merit: 10

Artemis

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?

all choices are yours mate. because no one can change the decision you make. but it would be better if you hold on and wait until the selling price is what you expect.. thank you

fauzan Ichsan

full member

Activity: 1246

Merit: 102

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: tvplus006 on July 21, 2023, 01:08:53 PM

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 am surprised by the fact that you are asking this question only now, despite the fact that the decline in the price of the coin has been going on for almost 2 years. Now the price is at its minimum values and if you are not experiencing a shortage of finances, you should wait for a bull run and possibly buy in addition DOT to reduce the average value of the coin.

the average altcoin has decreased by more than 50%, and until now DOT still survives in the cryptocurrency world. I guess you can either buy back, or hold onto it while waiting for the bull season to come. indeed it really messes up our psychology but we have to be able to think realistically, instead of doing a cutloss and the DOT still has a chance to pump, so it's better to be patient to wait for it until the bullish season comes

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

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 am surprised by the fact that you are asking this question only now, despite the fact that the decline in the price of the coin has been going on for almost 2 years. Now the price is at its minimum values and if you are not experiencing a shortage of finances, you should wait for a bull run and possibly buy in addition DOT to reduce the average value of the coin.

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: el kaka22 on July 20, 2023, 10:38:38 AM

We all have the same suggestions, I mean either you buy more DOT to drop the DCA, and if not then you just hold, or you sell them and get bitcoin, or you sell them and get more bitcoin and get more bitcoin as well to drop the DCA as well again. Those are it, there is really nothing else that you can do in order to change that, I believe that it is going to be pretty similar to that and we are not going to see any new changes neither.

It is going to be a bit of a difficult situation in the end, but I feel like that's the type of thing you should be doing anyway. Yes this is not a quick solution, but this is what we have right now and we are going to have to just accept that there is no other method we can recover it.

One thing that amazes me about this is that at minimum the OP has had this problem since the early months of 2022, so it has taken some time for their problem to snowball to its current size, and as such it should be expected that it should also take a lot of time in order for the problem to fix itself, now I do not know if DOT will reach a new ATH during the next bull run as it is still trading for just 10% of that amount, but it should go high enough for the OP to at least breakeven when they sell.

el kaka22

legendary

Activity: 3654

Merit: 1165

www.Crypto.Games: Multiple coins, multiple games

We all have the same suggestions, I mean either you buy more DOT to drop the DCA, and if not then you just hold, or you sell them and get bitcoin, or you sell them and get more bitcoin and get more bitcoin as well to drop the DCA as well again. Those are it, there is really nothing else that you can do in order to change that, I believe that it is going to be pretty similar to that and we are not going to see any new changes neither.

It is going to be a bit of a difficult situation in the end, but I feel like that's the type of thing you should be doing anyway. Yes this is not a quick solution, but this is what we have right now and we are going to have to just accept that there is no other method we can recover it.

cheezcarls

hero member

Activity: 2282

Merit: 659

Looking for gigs

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 best option is to wait it out. Not a smart choice if you are going to sell it at a loss. We all have the same experience as you in different coins and tokens that we have.

Like in my case, I’ve started DCA with Bitcoin at $30k to $31k last year. But I was at a loss as it dropped to as much as $16k. But I’ve kept buying with my extra money.

Good thing I hung on and most of my DCA amounts are in profit because of accumulating during the $19k to $23k range.

But of course, the decision is entirely up to you as we are just sharing our opinions here.

a298b112

member

Activity: 143

Merit: 36

BTC in my portfolio is up ~17%. I will continue DCA BTC. I thin returns from BTC will cover my lost within the next 12-18 months. That is the decision.

For those who are starting: please if you are not sure what you are doing, and if you are not knowledgeable trader or investor start with BTC. It turns out to be safest asset for starters. Once you are sure you know the market, then you can make some more risky investments.

lienfaye

hero member

Activity: 3010

Merit: 629

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?

Sell if you can't wait. Hold if you think there's still chance for the price to recover back to value you bought it. Because if you're going to sell now, that means you already give up and tired of waiting.

This is the reason why I don't just invest on just any altcoins, because alts are only good for short term. If you had the chance to gain from your investment, consider taking profit already and take out your capital. So even the price plunged, you have nothing to lose since you're early to take advantage the opportunity to sell at the right time.

bastian466

sr. member

Activity: 1372

Merit: 251

PredX - AI-Powered Prediction Market

Better to wait and forget about it. it will shift the worries in your mind if you change it means you hit the lose button. then from here turn your gaze to something in the sense that you are opening a new chapter in investing, determine exactly so that similar incidents do not happen again

yhiaali3

legendary

Activity: 1848

Merit: 1982

Fully Regulated Crypto Casino

The best way is to wait for the bull season, most likely it will be after the Bitcoin halving next year, for sure at that time all altcoins including DOT will go up.

Another thing, if you intend to cut losses, I advise you to follow the DCA strategy until the bull season, and so you will get a good average price.

Silberman

legendary

Activity: 2534

Merit: 1338

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?

Look there is not an easy way out from your situation, to begin with what were your intentions when trading this coin? I assume you were trading it and not investing in it otherwise you will not even ask us about what to do as otherwise you should have been convinced of remaining invested in that coin even if there was a crash on its price, and since I think you are a trader you should have never allowed for your losses to keep accumulating, however since that is not an option anymore you only have three options, to sell in the case you think the coin has no future, to hold in the case you think the coin will go up in value at some point in the future, or to do DCA if you want to reduce the time you will have to hold that coin while taking an even higher risk, the choice is yours.

doomloop

hero member

Activity: 2408

Merit: 584

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 is absolutely no way for you to get out of this situation other than to wait for the market to go up significantly so that the price of DOT goes up as well and then you can sell your assets, this happens in the spot market when you buy too high and then the market crashes, you will just lose value and nothing happens unless you sell them at a loss. Your only hope for now is the upcoming bull run where the prices of coins will go pretty high along with Bitcoin.

We can't really know when the bull run will start but most people are optimistic that it will be somewhere after the halving next year, but even that isn't guaranteed and it is all based on speculations and what used to happen in the past, other than that, there is no surety of a bull run at all.

suzanne5223

hero member

Activity: 2660

Merit: 651

Want top-notch marketing for your project, Hire me

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 am sorry about your story but you forget to follow rule number one of cryptocurrency trading after you already have the needed skill and knowledge to trade crypto.
The number one is choosing the right coin and from my book, if you must choose crypto to trade for profit it must be a coin that's somehow resilient, always get its bullish back when it is the rally market, and doesn't have community issue.
I will advise you to keep the DOT and wait for the rally market if it follows the BTC market trend.

umbara ardian

sr. member

Activity: 1358

Merit: 259

PredX - AI-Powered Prediction Market

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?

waiting and not selling at the current price can help avoid losses in case the DOT price drops. Because holding assets for a long time is a smart and effective investment strategy that achieves profits. Especially for assets like Bitcoin, being patient and not selling properly during the price drop can allow you to enjoy positive changes later. Besides, you can analyze and research thoroughly about other cryptocurrencies which is also a good strategy, to take advantage of the opportunity to increase the price and consider investing your money in potential assets. Offsetting that you are losing your current DOT investment.

riskarcher

full member

Activity: 672

Merit: 100

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 know that feel bro, The more you hold it, the deeper it gets. If you cut loss before deeper like now maybe you can switch to other coin or convert to usdt for the next entry market once sideways has begun. Don't worry about your loss keep holding and forget it your portofolio, wait the moment at the bullrun. As long as you keep coin who have potential and clear fundamental in the future as the leading of web 3, furthermore i'm believe DOT will created new ATH. Keep waiting and patience

asriloni

legendary

Activity: 3038

Merit: 1024

Leading Crypto Sports Betting & Casino Platform

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

Activity: 1064

Merit: 1298

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

Merit: 217

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

Activity: 910

Merit: 507

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

hero member

Activity: 3066

Merit: 629

Vave.com - Crypto Casino

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

hero member

Activity: 2604

Merit: 816

🐺Spinarium.com🐺 - iGaming casino

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

Activity: 2716

Merit: 698

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

Merit: 845

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

member

Activity: 1540

Merit: 68

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

Activity: 2870

Merit: 3873

Paldo.io 🤖

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

Activity: 2912

Merit: 6403

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

hero member

Activity: 2716

Merit: 698

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

Merit: 599

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

Activity: 2576

Merit: 1655

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

Merit: 785

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

Activity: 2870

Merit: 3873

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

hero member

Activity: 1246

Merit: 699

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

Activity: 2170

Merit: 1789

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.

GreatArkansas

legendary

Activity: 2506

Merit: 1394

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 can relate to this. I was once also a holder of Polkadot (DOT) I even joined most of their para chain auction sale before.
I can also say that there are really no excuses if we are in the bear market, even with how quality cryptocurrency project is, when the bear market comes, it will be bloody.

My advice is you can hold because selling with that kind of loss, it's already huge. But we will not know when it will or how much price will it be if just in case we will be in bull market and peak on the market.

yudi09

hero member

Activity: 1316

Merit: 787

Rollbit - The #1 Solana Casino

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 way to save it is to wait. If you sell at the current price, you will automatically be at a loss point that reaches approximately 19USD per 1 Polkadot.
Before you decide to put all your money into DOT, you should first analyze what coins you want to buy because IMO putting all your money into one type of coin is not good except for Bitcoin.

Again, the way to save your money is to wait until the price of Polkadot/DOT returns to the purchase price.
If you still have other money, look at other coins that have the opportunity to increase and buy. The profit that will be obtained can cover the loss due to the decline in DOT price.
I look at the price chart, XRP is still on the rise.

Mr. Magkaisa

sr. member

Activity: 938

Merit: 303

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 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.

I'm sure that when the value of Bitcoin in the market starts to rally, DOT is one of the things that Bitcoin can pull up in the market price, and there is also a high possibility of returning to that ATH. Just be patient and there's no other way to do it than to increase its value again in the market, as long as you don't sell it.

a298b112

member

Activity: 143

Merit: 36

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?

Topic: Help to rescue (Read 412 times)