Topic: I was tempted to sell off altcoin - page 9. (Read 1204 times)
It's understandable to feel bad when your portfolio seems to be draining, but there's really no cause for alarm because it's a norm with cryptocurrency. We all know that the market is volatile in nature and after a bear, always comes a bull. You may need to be patient if your portfolio is made up of good coins like bitcoin and ethereum, because no matter the situation, they'll still find their way up again.
Hello mate
Do we currently calls the market situation the bear or what?
Today I just opened my storage where i buy and stored most of my crypto coin and the rest I noticed have almost lost 60% of all my asset in dollars so I was tempted to sell off all and take a look at the market to know if there will be corrections, though I have been monitoring the market but I m not really convinced so I decided to share here to know whether I could get some people who knows about the market to give a little breakdown before I go into such decisions.
I will really appreciate then i can know the reason for such action and decrease in most of the currencies especially BTC and BNB.
Thank you.
I will read all comments to see the reason.
Do we currently calls the market situation the bear or what?
Today I just opened my storage where i buy and stored most of my crypto coin and the rest I noticed have almost lost 60% of all my asset in dollars so I was tempted to sell off all and take a look at the market to know if there will be corrections, though I have been monitoring the market but I m not really convinced so I decided to share here to know whether I could get some people who knows about the market to give a little breakdown before I go into such decisions.
I will really appreciate then i can know the reason for such action and decrease in most of the currencies especially BTC and BNB.
Thank you.
I will read all comments to see the reason.
don't panic when you see current market conditions because conditions like this have repeatedly happened in cryptocurrencies, but you have to look at the assets you have, do they have strong fundamentals to be able to increase in the future?? because not all altcoins can survive in these market conditions. the important thing is not to panic because everything will return to normal in time and the BULLRUN will definitely come back.
I think you don't done right because in losses selling is not the right choice. When we invest in any market then we should now that your portfolio is going to happen up and down. It will test your emotions. As I research market your money will going to much bigger or you going to loss, there is no middle way in any market. So selling in loss not a great idea you should holds and try your luck.
Sad to say, just monitoring the market alone is never enough. Even when you are an expert in technical analysis, you're technical analysis won't serve any purpose when the economy is going crazy negatively or in a good way. A trader must be aware of the news even when you do not consider yourself as a trader and just a normal investor, it is your responsibility to be alert and well informed with what is happening around the world that may affect the price of the assets that you hold, be it crypto or something else. The only advice I can give you is to weigh your choices, the purpose of your fund and the credibility of the asset you hold (quality, usecases and survivability throughout the bearish times). After you have considered these, you can decide for yourself whether to cut losses or hold(DCA if possible) all throughout the entire bear season. Anyway, I hope this served as a good lesson for you and for the newbies out there. The crypto industry is not a walk in the park. It is brutal. Some here just got in after seeing the bull season so savor these lessons.
Selling out or converting your portfolio to USDT after reaching a 60% loss is not a good idea. It would be best to accept that you're late and wait for the next bull run to get a profit. I'm of the opinion that there's actually no loss made since you still have your coin and could sell for a higher amount in the near future.
If you've sold your altcoins since last year you made the right choice because the next thing to expect now is bear market, many people are greedy that's why they are still holding I'm not talking to those that buy and sell for 1% to 5% gains I'm talking about those who keep holding since the beginning of bull market.
But we are already down, he should have sold off when the price is at all time high. So for me, its' better to hold because sooner or later we might recover some so at least he can still good money instead of a minus profits. I know majority of us has been tempted and maybe the reason is that we've seen the effects of war. But for me I don't think that it will last long. Russia might be showing her teeth and try to send message to Ukraine and other countries, but it will not start a ww3 as others are trying to project.
To me this market isn't looking good, for every recovery there is always more down trend later, it looks like we are slowly going into bear season don't you think? Now is the time to get out of holding and focus more on trading.
If I judge the market conditions the other way around because it is clear that currently the market looks very bad and is still not suitable for holding and a little less suitable for trading because a decline is still more likely to occur than an increase in the price of coins in the current market. 
I want to believe you are playing the long game in your cryptocurrency investment otherwise, you should sell everything now. I think bear market is in full force couple with what is happening around the world especially in Ukraine! But if I were you, I will not sell, I will rather look for opportunity to double down on my investment!
At first I thought this was just a correction as usual, but twitter is filled with the hashtag ww3 meaning the war between russia and ukraine is really happening and is affecting the global economy. Hopefully it will recover soon for market prices.
Crypto winter is coming, even vitalik buterin confirmed this, I've sold most of my altcoins in Nov/Dec 2021 because i have understood how crypto works every market works seasonally and there is nothing that can stop bear market, if you are still in profit right now I suggest you start changing them to stable coin.
Yes, very good advice and I've also changed a lot of all the assets I own into stablecoins so there's nothing important that I need to think about now that all my assets are in stablecoins which obviously will never lose to keep in the long term. 
I think it is already too late to sell altcoins. They are so deep, that the amount you get for them will be laughable, compared to what you could have gotten. Your only strategy right now is to wait. And your best strategy in the past was either to sell with loss (selling now will make you bankrupt), or make serious research before buying, that will prevent such tempting to sell situation to happen. Best option right now is to wait, rest from crypto and seek for alternative source of work or income. That will kill temptation of selling and you will get new experience or skills.
Hello mate
Do we currently calls the market situation the bear or what?
Today I just opened my storage where i buy and stored most of my crypto coin and the rest I noticed have almost lost 60% of all my asset in dollars so I was tempted to sell off all and take a look at the market to know if there will be corrections, though I have been monitoring the market but I m not really convinced so I decided to share here to know whether I could get some people who knows about the market to give a little breakdown before I go into such decisions.
I will really appreciate then i can know the reason for such action and decrease in most of the currencies especially BTC and BNB.
Thank you.
I will read all comments to see the reason.
I feel you mate because it's really hard to see most of our investment are really decreasing value in such situation especially if the situation is getting worst. Do we currently calls the market situation the bear or what?
Today I just opened my storage where i buy and stored most of my crypto coin and the rest I noticed have almost lost 60% of all my asset in dollars so I was tempted to sell off all and take a look at the market to know if there will be corrections, though I have been monitoring the market but I m not really convinced so I decided to share here to know whether I could get some people who knows about the market to give a little breakdown before I go into such decisions.
I will really appreciate then i can know the reason for such action and decrease in most of the currencies especially BTC and BNB.
Thank you.
I will read all comments to see the reason.
But we still have chance to regain our losses as long as we keep holding mate, so i suggest don't sell because as usual these always a temporary situation as it's part of the cycle of the market..
And base on your question "why most crypto is decreasing especially BTC and BNB."?
well basically bitcoin is one and only coin that has largest market cap in the market reason most crypto in the market are affected on its situation.so don't be surprised anymore.
The war between Russia and Ukraine triggered a worldwide economic downturn, stocks and cryptocurrencies plummeted. When the war started, bitcoin immediately fell 10% it had an impact on other altcoins, even my assets returned minus 20%. I'm sure to keep it on USDT because the war will continue to heat up.
If you've sold your altcoins since last year you made the right choice because the next thing to expect now is bear market, many people are greedy that's why they are still holding I'm not talking to those that buy and sell for 1% to 5% gains I'm talking about those who keep holding since the beginning of bull market.
Hello mate
Do we currently calls the market situation the bear or what?
Today I just opened my storage where i buy and stored most of my crypto coin and the rest I noticed have almost lost 60% of all my asset in dollars so I was tempted to sell off all and take a look at the market to know if there will be corrections, though I have been monitoring the market but I m not really convinced so I decided to share here to know whether I could get some people who knows about the market to give a little breakdown before I go into such decisions.
I will really appreciate then i can know the reason for such action and decrease in most of the currencies especially BTC and BNB.
Thank you.
I will read all comments to see the reason.
Do we currently calls the market situation the bear or what?
Today I just opened my storage where i buy and stored most of my crypto coin and the rest I noticed have almost lost 60% of all my asset in dollars so I was tempted to sell off all and take a look at the market to know if there will be corrections, though I have been monitoring the market but I m not really convinced so I decided to share here to know whether I could get some people who knows about the market to give a little breakdown before I go into such decisions.
I will really appreciate then i can know the reason for such action and decrease in most of the currencies especially BTC and BNB.
Thank you.
I will read all comments to see the reason.
Well the price drop that you witnessed today a few hours ago was because of the russian invasion of the Ukraine. This news immediately caused the financial market to drop including the traditional stock market and not only the crypto market. Of course the crypto market always drops the heaviest when stuff like that happens but that should not be to surprising to anyone. I think you did well to not sell off your coins as you would have probably sold them at the bottom. Now that the initial shock and reaction of this news of the invasion is over i don't think we will see another sharp drop of the prices soon, except there will be another surprising turn of events for the worse.
This appears to be the natural cycle of Cryptocurrencies. At this point, for most of Altcoin holders it would make no sense to sell anyway. The loss is too large for a sell to be worth it anymore.
I learned to forget about my investments and kept it this way for years. You never know when a market makes a comeback and from my own experience I know that I feel more worried after I sell on a loss than I feel when I keep my Cryptocurrencies and hold on to them. Imagine selling on a 60 percent loss and waking up tomorrow with the markets making a 15 percent recovery. You would feel bad that you sold, would you not?
Learn to invest decent amounts of money rather than extreme and learn to forget about the investment. In these tough times, the weak will transfer their money and assets to the strong. Of course, this is not financial advice but a personal opinion.
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Regards,
PrivacyG
I learned to forget about my investments and kept it this way for years. You never know when a market makes a comeback and from my own experience I know that I feel more worried after I sell on a loss than I feel when I keep my Cryptocurrencies and hold on to them. Imagine selling on a 60 percent loss and waking up tomorrow with the markets making a 15 percent recovery. You would feel bad that you sold, would you not?
Learn to invest decent amounts of money rather than extreme and learn to forget about the investment. In these tough times, the weak will transfer their money and assets to the strong. Of course, this is not financial advice but a personal opinion.
-
Regards,
PrivacyG
I will say that the 4 year cycle is still in effect, so base on that, I will say that we are indeed in a long bear market that could last 2-3 years.
As for your portfolio, if you haven't heard, Putin started to mobilized his troops and attack Ukraine. So the war has started and all the financial markets have been hit by this news.
So it might be good for that you sold off because of the uncertainty surrounding this event.
As for your portfolio, if you haven't heard, Putin started to mobilized his troops and attack Ukraine. So the war has started and all the financial markets have been hit by this news.
So it might be good for that you sold off because of the uncertainty surrounding this event.
The war between ukraine and russia triggering so many bad sentiment in the stock and crypto market even dow jones was also decreasing along with the cryptocurrncy which is correlated with it too. People are getting scared to see the market and then they are doing dumping to their assets as a part of their preparation when the war will be happening and to be honest this may become a long term journey with the bearish market but for me this is the best time to buy from the market. i lose a lot but im not missing this golden opportunity to buy more tokens from the market.
Do not. Just be patient for a few more moments. The market price does not support you to make a profit when you sell the current asset. 60% of the assets you say are close to losing, when you are willing to be patient for a while longer, then you will definitely get 60% profits. Rest assured my friend.
From other telegram group i joined they said BTC is likely to get to $29k and you know what will happened to altcoin as well? As it is always said Bitcoin remains the market propellers meaning if bitcoin goes so down then i lost 70% to 80%.
Well i will watch for only today to see how the trend goes before taking any decision at the moment.
Thank for sharing your thoughts more comments are still welcomed
It is obvious that the bear market has come, don't lie to yourself, now selling, you can save some strength
Don't know how long it will last this time
Don't know how long it will last this time
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