Right now because of the loss I will suggest to just hold it and if you have extra bitcoin/satoshi or cash buy more to average down. If you do not average down it may take months for you to break even. If you average down it will be easier to sell once the price hit your average cost.
Just learn and always have a stop loss on you next trade so that you would not accumulate big losses.
Topic: I lost 80% of my bitcoins in alts, What can I do now?! - page 87. (Read 21888 times)
Hey there
In june & July I bought Digibyte & Stratis & Siacoin with all my bitcoins, till now I lost almost 80%
What can I do, HOLD or Sell or What!
In june & July I bought Digibyte & Stratis & Siacoin with all my bitcoins, till now I lost almost 80%
What can I do, HOLD or Sell or What!
It is sad that these very known coins are the ones that caused your almost 80% lost. If you have seen some other trusted coins that will probably pull up your portfolio value, you may decide to cut loss. But if you want to continue holding on to these coins, you may also do so. These are big coins that have working teams behind. There are no worries that these are mere shitcoins.
Most of the altcoin traders I know (including myself) have gone through the same problem and each one has solved the situation in very different ways. Since I have always been a very conservative trader, my losses have actually been minimal (about 20% of my investment), so I have no problem in continuing to hold all the acquired altcoins, because maybe in the medium term gradually recover. But when you lose as much as 80% maybe you should pause to rethink your strategies before continuing in this business.
Talk about a blow to your bankroll... If it were me, I'd try to do a little more research on what I'm investing in before hand. Take a little time to think it through. Don't buy into pumps, and be careful with hyped projects. One or two good investments, you'll be back to where you were.
That's absolutely mental, why on earth would you invest even more in a token that's lost so much? Cut your losses and learn the lesson.
A better strategy is buy in chunks not all your eggs in one basket. Say a coin is worth 10 and you think it may go up to 12. Buy 25% of what you wanted to invest.
Day 2, it's now at 8 ok buy another 25%
Day 3, it's now worth 5 - At this point you can either go the full remaining 50% if you think it's at it's bottom or continue with the 25% investment again.
At end of it say the ending price is 7 by time you've blown all your funds. You got some tokens above that price and some below so you may be slightly up or slightly down.
Of course this also works in reverse, profits will be less as well. But your not going 'all in' at a certain price.
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Thanks. This is the better method to staggerred your purchase.
Sometimes, we newbies have no patience and make the purchase in one shot.
If you really want to live life on the wild side, you could try selling your alt coins now to buy back cheaper tomorrow. As long as bitcoin keeps going up the alts SHOULD keep going down. It's a risky maneuver though, as the alt rebound could occur at any time.
Makes sense somehow. You can never be taking the altcoins up and up because they are reciprocal to bitcoins. As long as bitcoins are going higher, altcoins are going down and down. So better is to sell altcoins, although you wouldn’t be having any solid or much profit form it but still buying more at low prices are more valuable.Yes, unless you are so precise as to catch the bottom, so that shortly after you sell the market goes up again, and you hesitate and hesitate and hesitate to rebuy until you finally decide and buy exactly when it has reached the top. That's called the strategy to sell low and buy high.
I am in the same situation.
Newbie in the crypto i put almost everything into OMG NEO LSK EDG PAY before the big dump.
I didn't sell anything during the fork. I will hold no matter what.
This is heavy, i take it as a lesson but at the end holding is probably the best way to go.
Newbie in the crypto i put almost everything into OMG NEO LSK EDG PAY before the big dump.
I didn't sell anything during the fork. I will hold no matter what.
This is heavy, i take it as a lesson but at the end holding is probably the best way to go.
It is very hard to help you.
80% loss is very very much, even is you sell it and buy other coin which will pump then you could regain max 20-40% but IF you succeed in your pick and investment(otherwise you will lose more). Of course you could invest in coin who could rise 100% but It would be not coin from top 100 so then you take more and more risk.
You should make a decision which is the best for you we can only tell you what probably could happen. I know a lot of people who bought sia for 0.009$ and sell when 0.007$ but now is 0.004$, lots of people say that it should grow soon and regain some lost price but the most important question now is WHEN and HOW LONG will you need to wait for. But it is maybe the most safe option here. You can take part in signature campaign and earn some coins.
80% loss is very very much, even is you sell it and buy other coin which will pump then you could regain max 20-40% but IF you succeed in your pick and investment(otherwise you will lose more). Of course you could invest in coin who could rise 100% but It would be not coin from top 100 so then you take more and more risk.
You should make a decision which is the best for you we can only tell you what probably could happen. I know a lot of people who bought sia for 0.009$ and sell when 0.007$ but now is 0.004$, lots of people say that it should grow soon and regain some lost price but the most important question now is WHEN and HOW LONG will you need to wait for. But it is maybe the most safe option here. You can take part in signature campaign and earn some coins.
Look at your current coins and look at their roadmap. Do they have something coming out in the very near future (1 month or less). If not, I would probably put them in another coin that has greater publicity or are close to releasing something. The whole market will rebound after the btc fork, and the more popular coins will rise faster. So personally I would prefer to move money to those.
In my opinion hold and take profit until you get 30% profit more. After that review the mistakes that you did, learn about technical and fundamental analysis and also psychology in trading. But if you want to buy crypto for long-term investments, Bitcoin and Ethereum is the best choice.
If you really want to live life on the wild side, you could try selling your alt coins now to buy back cheaper tomorrow. As long as bitcoin keeps going up the alts SHOULD keep going down. It's a risky maneuver though, as the alt rebound could occur at any time.
Makes sense somehow. You can never be taking the altcoins up and up because they are reciprocal to bitcoins. As long as bitcoins are going higher, altcoins are going down and down. So better is to sell altcoins, although you wouldn’t be having any solid or much profit form it but still buying more at low prices are more valuable. 
Well, there is strategy called Average down! If you had been using the strategy you may not have lost so much. It is not late now. Double the units you have in all these coin. Any 10 % to 20% increase in price will automatically put you in profit! Keep buying the deep and you won't lose a dime at the end of the day!
A Perfect advice for those who are holding Altcoin
That's absolutely mental, why on earth would you invest even more in a token that's lost so much? Cut your losses and learn the lesson.
A better strategy is buy in chunks not all your eggs in one basket. Say a coin is worth 10 and you think it may go up to 12. Buy 25% of what you wanted to invest.
Day 2, it's now at 8 ok buy another 25%
Day 3, it's now worth 5 - At this point you can either go the full remaining 50% if you think it's at it's bottom or continue with the 25% investment again.
At end of it say the ending price is 7 by time you've blown all your funds. You got some tokens above that price and some below so you may be slightly up or slightly down.
Of course this also works in reverse, profits will be less as well. But your not going 'all in' at a certain price.
Well, there is strategy called Average down! If you had been using the strategy you may not have lost so much. It is not late now. Double the units you have in all these coin. Any 10 % to 20% increase in price will automatically put you in profit! Keep buying the deep and you won't lose a dime at the end of the day!
A Perfect advice for those who are holding Altcoin
Hey there
In june & July I bought Digibyte & Stratis & Siacoin with all my bitcoins, till now I lost almost 80%
What can I do, HOLD or Sell or What!
In june & July I bought Digibyte & Stratis & Siacoin with all my bitcoins, till now I lost almost 80%
What can I do, HOLD or Sell or What!
Well if it helps, you can wait for a few more days, after the fork the prices of alts are most likely to change, and holding is one of the best things you can do at the moment, cause you don't have any other solid option as well. Btw, siacoin will increase definitely, digibyte and stratis may take some more time but yeah maybe they will increase on a long run. So better hold.
I don't think siacoin will recover. However it is important to note that even if a coin is falling towards $0, you can still take profit. There will be peaks and troughs on the way down.
I don't know much about the others, but for siacoin I'd say: sell when it reaches a short-term peak, buy back the same amount at short-term trough - and keep the difference in BTC. Then just repeat as and when the situation presents itself. Peaks are relatively easy to spot, when a pump starts to lose effect. You probably won't recoup everything this way, but at least you will mitigate your losses, plus you'll retain your original sia holding in case of an unlikely massive pump.
This is the strategy I sometimes use when I become a bagholder (cough... QRL... cough). Of course if there is absolutely no chance of a coin recovering, then just sell the lot immediately to cut your losses.
I don't know much about the others, but for siacoin I'd say: sell when it reaches a short-term peak, buy back the same amount at short-term trough - and keep the difference in BTC. Then just repeat as and when the situation presents itself. Peaks are relatively easy to spot, when a pump starts to lose effect. You probably won't recoup everything this way, but at least you will mitigate your losses, plus you'll retain your original sia holding in case of an unlikely massive pump.
This is the strategy I sometimes use when I become a bagholder (cough... QRL... cough). Of course if there is absolutely no chance of a coin recovering, then just sell the lot immediately to cut your losses.
Like many have said, most likely better to hold. You know these have potential to rise, where if you sell for another coin you might miss the train back up. Hey if ebtc is already back to .20cents.. it should be going back up. GL
patience is key now. Dont sell at loss.
If you have that coin its better to hold your altcoin because if you sell your altcoin you can lose your other bitcoin because the price of the altcoin that you have decrease. You need patience so you can wait the price to increase and if you have they have possible that you earn a lot of profit . Thats the only way to save your bitcoin . But it depends to you what is the best .
That was a very expensive lesson, hope you learned it.
But don't quit crypto, learn and improve, never give up.
But don't quit crypto, learn and improve, never give up.
Hey there
In june & July I bought Digibyte & Stratis & Siacoin with all my bitcoins, till now I lost almost 80%
What can I do, HOLD or Sell or What!
In june & July I bought Digibyte & Stratis & Siacoin with all my bitcoins, till now I lost almost 80%
What can I do, HOLD or Sell or What!
July is the month where Siacoin and Stratis price where so high, man you are caught on that trap. For now you will have no other choices other than holding or maybe buy more. 80% was a huge loss and you will lose more from those two coins because their prices is still on a bearish trend. You should have set your target prices for your gains and losses first and foremost. And last never buy altcoins on their peak prices man, specially if those coins are not that established enough for long term invesments. Goodluck bro, btw if you need more guides try visiting this thread. https://bitcointalksearch.org/topic/m.17180511
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