Is it good idea to buy altcoins when they crash??

Invester

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Quote from: Coinzzz on August 04, 2017, 01:39:08 AM

Hello fellow members

I was browsing coinmarketcap and was looking at the most fallen coins of the week... So i saw one at -97% over one week period and was wondering it would be a good idea to invest in it and similer ones cause they are at bottom and almost can't go any more down...

Is this a good idea/strategy??

Btw i am not looking at this as long term investment, just some quick bucks by day trading kinda.

Thankss

That is just one single sign that there will be profit later as it is already on the bottom. But it is not really conclusive. Beware of jumping into sudden buying simple because a certain coin is crashing. You might just be throwing away money in the end.

Look at the coin closely and look for new updates and projects. If you found out that it is not that working good anymore, the crash might be a sign that it will be dead soon.

It is a different story altogether if the coin involved is some great working coins. There must be some pumping soon after a crash.

webtricks

legendary

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This strategy doesn't apply to all cryptocurrencies universally. While this technique may be useful in case of coins having large marketcap like STRATS or WAVES but kill your amount if you are considering coins with small cap which are mostly prey to big whales who pump/dump these coins and kill coins' natural market forces.

Exotica111

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Quote from: suvo05 on August 09, 2017, 04:43:07 AM

Quote from: Coinzzz on August 04, 2017, 01:39:08 AM

Hello fellow members

I was browsing coinmarketcap and was looking at the most fallen coins of the week... So i saw one at -97% over one week period and was wondering it would be a good idea to invest in it and similer ones cause they are at bottom and almost can't go any more down...

Is this a good idea/strategy??

Btw i am not looking at this as long term investment, just some quick bucks by day trading kinda.

Thankss

Depends on the cause ,why has crashed. You should check well why that particular coin has crashed. For example if you look at BURST coin it crashes from 900sat down to below 250sat, was arround 600sat for several months. And DDOS attack on the blockchain have causes the crashing. And the problem has not solved for a month.

I agree because when you know the main reason why the coins become crash you have an idea on how to enter in the market thant can help you to generate profit

suvo05

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Quote from: Coinzzz on August 04, 2017, 01:39:08 AM

Hello fellow members

I was browsing coinmarketcap and was looking at the most fallen coins of the week... So i saw one at -97% over one week period and was wondering it would be a good idea to invest in it and similer ones cause they are at bottom and almost can't go any more down...

Is this a good idea/strategy??

Btw i am not looking at this as long term investment, just some quick bucks by day trading kinda.

Thankss

Depends on the cause ,why has crashed. You should check well why that particular coin has crashed. For example if you look at BURST coin it crashes from 900sat down to below 250sat, was arround 600sat for several months. And DDOS attack on the blockchain have causes the crashing. And the problem has not solved for a month.

bamboylee

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Maybe if the cause of the crash is because bitcoin is going too high. If the price of bitcoin levels again, the price of alts will go back up. So buying in the bottom is a good opportunity. But if the crash is because of devs dumping on you, then it is suicide to buy that alt.

cryptedlife

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BlockStarter team

Only if this altcoin is from TOP 20 list of cryptocurrencies.

Kray

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Quote from: Coinzzz on August 04, 2017, 01:39:08 AM

Hello fellow members

I was browsing coinmarketcap and was looking at the most fallen coins of the week... So i saw one at -97% over one week period and was wondering it would be a good idea to invest in it and similer ones cause they are at bottom and almost can't go any more down...

Is this a good idea/strategy??

Btw i am not looking at this as long term investment, just some quick bucks by day trading kinda.

Thankss

Yes it's good, but you should know why altcoin crash and you need valid reason for this. It's not good to buy altcoin if they crashed because of coin developer abandon his project, scam other people and make sure coin crashed not because dump schemes

kelseydustin

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Activity: 448

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crashing is the best time to buy altcoins and if you have money, try to buy some altcoins for your own. But remember, do not spend all of your money during the crash because there is a high possibility that there will be a second crash. Therefore, if you spend all of you money, you will suffer a huge loss in a second crash. As you can see, before the hard fork, the whole cryptocurrency system has been down for many day

nydiacaskey01

legendary

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haha I remember someone posting in Twitter that QRL is dead since it dropped more than 50% in 24 hours and only transaction you can see Sell, but when someone posted that its about to lift off, theres a sudden rush to buy and take advantage of the pump. So bottom line is when you see a dip, take advantage, buy and hold. Patience is they in trading.

Soutogu

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Something that you also have to consider and i didn't see any mentions about: Be very careful when looking at a 1day or 7day chart - the coin might be down -100% but it could've surged up 500% a few days prior to that... So you're not really buying a coin that 'crashed', but a coin that had an unsustainable/unexpected growth and is not correcting its price.

For the truly 'crashed' coins - i'd personally stay away from them. They usually dont recover very well, and it might take a long time if they do.

LifeOfDoge

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Additionally what Yza_azY said I would say for example if something like Chaincoin will crash from 6$ to 0.5$ it is really bad idea to buy in, If something like PLBT goes down from 8$ to 4.5$ it could pay off to buy in for long run.

Yza_azY

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As others have said, it depends!

depends, on why it crashed, -> and u need info.
depends, how much it crashed, -> and u need info.
depends, is good coin................. Depends!!!

I have buy rdd in 2015 for 0.x09, after maaaany time i sell @ 0.x07 ( real low ), but i have put 0.3btc on @0.x01..

i have buy 0.3 btc, after then was w8 maaaany time too and i have sell @ 0.x04... after 1 week was 0.x30>... lul.

My win (4x) was lose, but this is this word.

Wayan_Pedjeng

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From my experience, I would advice against it. A few years back, I purchased Litecoins after the prices crashed from BTC0.05 to BTC0.03. But it continued going down and after a few months, the exchange rates reached a low of BTC0.004 (I didn't waited till then. Got rid of the coins for 0.008 BTC each).

Igniteratings

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Price movement is very correlated across nearly all coins due to lack of realtime information on individual coins. Thus when the market is up everything is up, regardless of if it should be or not.

If its a good coin is a solid project adding value and utility then buying low and holding is always a good strategy.

Rabi3

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It's a good strategy but it's not successful every time ,so be careful

Karmakid

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Quote from: Coinzzz on August 04, 2017, 01:39:08 AM

Hello fellow members

I was browsing coinmarketcap and was looking at the most fallen coins of the week... So i saw one at -97% over one week period and was wondering it would be a good idea to invest in it and similer ones cause they are at bottom and almost can't go any more down...

Is this a good idea/strategy??

Btw i am not looking at this as long term investment, just some quick bucks by day trading kinda.

Thankss

I think it all depends on what coin are you referring too. There are different reasons why coins price fall. If it's a shitcoin that's pumped by some dude and decided to let it down the drain, then it's not good to invest into it. And there are some coins that are highly manipulated by people such as ETH, I think this would be a great time to buy. Just check the coin first and read some news about it before doing something.

YS84

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That’s the way we are normally doing. But sometimes some coins get long time to go up. And some are not recovered at least the price which we brought. They stay at bottom level. Some are up and down regularly. Before you invest money in a coin it is better to do a market survey first. My opinion, if you are thinking on short term profit, buy second category fluctuating coins at cheap price and keep your eyes to sell them when price get high.

crismass1225

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i think it is case to case basis.... but itis good to buy coins when the market crash... low price coins equal to a week to pump them up by many manipulator and ta dan.... its like what happen on the hardfork in bitcoin... price go's down (maybe because some holders are getting panic) and then after the fork the price back to normal and after a days or a week it increase its price by $3200 ... oh yeah!!!

albert11

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Yes off course this well give us more profit. Like happened in Bitcoins fork crashed up to 1,800$ I remeber. Then back it into normal price until we saw the new all time high 3,300$ so if you bouth 1 BTC in 1,800$ price you will earn almost 87% on your investment. but be carefull because there are a risk involved better get much knowledge before buying because some of Altcoins crashed not normal in to other so if you buy then you don't have any research . Maybe that coins dump long tern so you don't any option to sell or to hold with no assurances that they can back again.

sotoshihero

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Yes, its good to buy when its red or dumping and when market recovers, then you are on profit. But take note, please study first the coins you want to buy. There are coins once dumped, they barely recover be vigilant with this. Just invest in the bluechips like the top coins in coinmarketcap.

Topic: Is it good idea to buy altcoins when they crash?? (Read 2846 times)