Sometime this is very painful when we are expecting a very positive, a very aggressive market but suddenly we see the whole market have crashed and all panic selling start. Here is what we need to do,
- Sell our Coins and be safe
- Wait for a little bounce back and exit
- Let it be and remain Relax
It is up to you and the altcoin you are holding. If you are holding Bitcoin and the leading altcoins in the market, you do not need to panic. Sooner or later, its price will go up again, but if you hold altcoins outside the top 10, you need to sell because its price is difficult to go up after each collapse. Sell and buy them back for a cheaper price
The
sooner or later, the price goes up thing does not apply to all cryptocurrencies. We still need to check the market and the condition of the project. There are lots of once lively coin that is so dead now.
I agree with your points, not everyone can make the right decision in a bad time, but selling coins for being safe is a very positive idea! To me, I will sell my holding coins and will buy later when the market will go lower. I followed this strategy in 2018 when the Bitcoin price was 3400$! Therefore the third option also great advice, because if your invested coins are good enough and you believe all will go up again with the Bitcoin grows then you can stay calm, relax instead of selling at a low price!
Indeed cutting losses and buying at the dip is the best strategy to go if we are right in our assumption. Just to let you know, several investors did this (short their trade and expect for the price to go down) but right after they sold their holding price rally up to x times the previous price. In short, it is not the safest method because risk of the market rallying up after the short is always there.
