Should I buy more of the same altcoins as price keep dropping?

JCO05

full member

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Quote from: jerry0 on October 08, 2018, 06:36:08 PM

I bought several altcoins where many of the value has fallen by at least 50 percent. Some even close to 80 percent etc. It seems like the altcoins price is more stable now at least a bit compared to months ago. Well bitcoin has been very stable lately. Now let say you bought several coins and each coin was like 1 dollar, 50 cent and 35 cent to make it simple. Now the coins are now like 60 cents, 25 cents and 15 cents.

If you buy more of the same coin now and the same amount moneywise... well if the prices goes back up, it doesn't have to go all the way back to the original prices where you would break even if you sell. But the price it needs to hit is a lot lower for you to break even so to speak. Do many ppl buy coins this way? Thus its like hey even though i bought lot of that coin at 1 dollar and it dropped in half, well if i get more now, well im getting that coin at a lower average price etc. But of course the price can even drop more and make it worst. Example you buy a coin at 80 cents. Then it dropped to 40 cents. You buy more because hey i can get it at huge discount. But price is around that 40 cent mark or even dropped to 20 cents. Do you buy more at 20 cents? My thoughts were hey it dropped to 40 cents... buy. But now it dropped in half to 20 cents. But if you buy and it drop to 10 cents, you cut your money even more in half.

Be careful, not all altcoins would be able to recover from the continuous downfall. Although it is really tempting to think of how huge the profit may be once recovery happen, be mindful of the coins that you are investing because there's huge uncertainty when it comes on the recovery of the coins at this moment in general.

aoluain

legendary

Activity: 2436

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Its a difficult one to answer, there is a theory that buying more altcoins
at a lower rate can lower the average cost price of the coins.

Myself i am buying only bitcoin, this is the market leader and i question
whether altcoins will recover at the same rate as bitcoin.

rockyfeller

full member

Activity: 406

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🚀🚀 ATHERO.IO 🚀🚀

If you really care about the project that can give you a big profit then don't hesitate to buy, We all know price is very volatile and it can drop even more if you can't handle risk. Don't feel bad about the market. As always said if you can't handle 90%drop, you don't deserve a 1000x pump.

BigBrother

member

Activity: 439

Merit: 10

I wouldn't buy it a third time. Well, only if in extreme cases. You need to read the news about the coin, perhaps something contributed to the fall in prices, or Vice versa there is some good news that can contribute to growth. If so then you can buy the coin a third time. But you still have to be careful with that.

Stavri

sr. member

Activity: 1050

Merit: 277

well. hard to answer this. really. but i can say if you really trust the project and if you really think that it has a real future, i think you can keep buying to reduce your avarage cost for this altcoin. but on the other hand it is not easy to predict how long this drop and bear market continues.

ivanst776

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Activity: 1540

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Quote from: jerry0 on October 08, 2018, 06:36:08 PM

I bought several altcoins where many of the value has fallen by at least 50 percent. Some even close to 80 percent etc. It seems like the altcoins price is more stable now at least a bit compared to months ago. Well bitcoin has been very stable lately. Now let say you bought several coins and each coin was like 1 dollar, 50 cent and 35 cent to make it simple. Now the coins are now like 60 cents, 25 cents and 15 cents.

If you had bitcoin and still have them then I would not value the coins/tokens that you want to buy into fiat but into the bitcoin conversation.
But if you are converting fiat into the bitcoin then into the tokens and compare the price in fiat then we are ok and I would say that it worth buying as the price keep dropping but not too much but keep it with the trend of prices, don't always spend all the money.

silver23

member

Activity: 574

Merit: 10

i think stop it, when the coin is keep drop the better decide is leave it.
because Altcoin is have a big risk, when it success we can get a big profit and when it fail we jus get a loss.

keyscore44

legendary

Activity: 2002

Merit: 1016

Quote from: jerry0 on October 08, 2018, 06:36:08 PM

I bought several altcoins where many of the value has fallen by at least 50 percent. Some even close to 80 percent etc. It seems like the altcoins price is more stable now at least a bit compared to months ago. Well bitcoin has been very stable lately. Now let say you bought several coins and each coin was like 1 dollar, 50 cent and 35 cent to make it simple. Now the coins are now like 60 cents, 25 cents and 15 cents.

If you buy more of the same coin now and the same amount moneywise... well if the prices goes back up, it doesn't have to go all the way back to the original prices where you would break even if you sell. But the price it needs to hit is a lot lower for you to break even so to speak. Do many ppl buy coins this way? Thus its like hey even though i bought lot of that coin at 1 dollar and it dropped in half, well if i get more now, well im getting that coin at a lower average price etc. But of course the price can even drop more and make it worst. Example you buy a coin at 80 cents. Then it dropped to 40 cents. You buy more because hey i can get it at huge discount. But price is around that 40 cent mark or even dropped to 20 cents. Do you buy more at 20 cents? My thoughts were hey it dropped to 40 cents... buy. But now it dropped in half to 20 cents. But if you buy and it drop to 10 cents, you cut your money even more in half.

Price drops, as always on the free market, were caused by people selling their coins. It seems that most people have completely different investment strategies than you. There is no something like "investment standard". It depends mostly on your capital and market knowledge. Many people think that at the moment the price is stabilizing, but many also think that it can still fall a lot. In the long-term, it is definitely a good time to buy.

Tcpark

newbie

Activity: 210

Merit: 0

2-3 month ago it would be too early to buy more, now its high time, cause majority of top coins dropped up to 90%, so it won't dropped lower the min price...

Desmozgenes

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Activity: 392

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Quote from: jerry0 on October 08, 2018, 06:36:08 PM

I bought several altcoins where many of the value has fallen by at least 50 percent. Some even close to 80 percent etc. It seems like the altcoins price is more stable now at least a bit compared to months ago. Well bitcoin has been very stable lately. Now let say you bought several coins and each coin was like 1 dollar, 50 cent and 35 cent to make it simple. Now the coins are now like 60 cents, 25 cents and 15 cents.

If you buy more of the same coin now and the same amount moneywise... well if the prices goes back up, it doesn't have to go all the way back to the original prices where you would break even if you sell. But the price it needs to hit is a lot lower for you to break even so to speak. Do many ppl buy coins this way? Thus its like hey even though i bought lot of that coin at 1 dollar and it dropped in half, well if i get more now, well im getting that coin at a lower average price etc. But of course the price can even drop more and make it worst. Example you buy a coin at 80 cents. Then it dropped to 40 cents. You buy more because hey i can get it at huge discount. But price is around that 40 cent mark or even dropped to 20 cents. Do you buy more at 20 cents? My thoughts were hey it dropped to 40 cents... buy. But now it dropped in half to 20 cents. But if you buy and it drop to 10 cents, you cut your money even more in half.

Dollar cost average is legit technique often used,but it shouldnt be used in every situation,every time that your altcoin that you have alot is down.

It should be done only if you really really believe in the project and you think its worth it to invest more,but more often than not it is best to just cut the lost and sell off,but people rarely do that,they get attached to some coin and in the end they become bag holders.

semes

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Quote from: jerry0 on October 08, 2018, 06:36:08 PM

I bought several altcoins where many of the value has fallen by at least 50 percent. Some even close to 80 percent etc. It seems like the altcoins price is more stable now at least a bit compared to months ago. Well bitcoin has been very stable lately. Now let say you bought several coins and each coin was like 1 dollar, 50 cent and 35 cent to make it simple. Now the coins are now like 60 cents, 25 cents and 15 cents.

If you buy more of the same coin now and the same amount moneywise... well if the prices goes back up, it doesn't have to go all the way back to the original prices where you would break even if you sell. But the price it needs to hit is a lot lower for you to break even so to speak. Do many ppl buy coins this way? Thus its like hey even though i bought lot of that coin at 1 dollar and it dropped in half, well if i get more now, well im getting that coin at a lower average price etc. But of course the price can even drop more and make it worst. Example you buy a coin at 80 cents. Then it dropped to 40 cents. You buy more because hey i can get it at huge discount. But price is around that 40 cent mark or even dropped to 20 cents. Do you buy more at 20 cents? My thoughts were hey it dropped to 40 cents... buy. But now it dropped in half to 20 cents. But if you buy and it drop to 10 cents, you cut your money even more in half.

I've made a mistake since I first met the world of crypto-money. I know I never need to buy a single piece, but I still can't. I guess that's why you lose 50%. Thus, if the coin we buy, we will reduce the average cost.

DeadCoin

sr. member

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★ Investor | Trader | Promoter

The price of all altcoins is very low so that we can buy more coins now and hold it for Future. Surely the price increase in future at that time you can earn profit.

lifesgood10

member

Activity: 378

Merit: 13

I thtink buying the same alternate coin is not a problem though
The true problem is that is it a well researched project ?
With good product value and future?

There is need to know those facts as that are key to true investment
Let’s be careful not to invest blindly

Aleh777

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Activity: 352

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Yes you can buy more altcoins at this time because of its low price. Now the prices of all altcoins are low so buy now and hold it for future. Hope the value will rise but it takes some time till that we have to wait with patience. But sure once the market returned the value of all coins will increase. But the coins you buy will be good growing coins then only the profit will be more while you sell. So check the coinmarketcap and select the coins from the top ten then you invest. Then only you can see the good income.

Hamphser

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Quote from: jerry0 on October 08, 2018, 06:36:08 PM

~snip~

These methods are just applicable to those coins which do have potential to increase in longer ones and not to the coins which doesn't really have any potential at all.
Purchasing cheap coins isn't bad but be sure to choose on top tier ones because you can somehow assure yourself that you can able to breakeven once the market
had recovered.Buying on lower price will really give you the urge to accumulate even more and as a trader we do keep guessing on what would be the bottom price
that's why we do commit such decisions anytime because of the volatileness.

ttking

member

Activity: 324

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I think that now it is high time to buy ripple , neo, dash and maybe btc as well. all coins which have some potential should be considered for the long-term keep. I am sure you will succeed if doing so

Magiklair

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I think that you need to buy popular coins which will bring you good profit later when you sell them. To my mind, these coins are btc and ether. To my mind, only these two coins are worth attention now

valnd

member

Activity: 406

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Until the end of time

If I believe in a coin that's a strategy I normally use when the price is dropping, I normally keep aside some USDT, so when the price of the coin drops, I will use my USDT and buy more of the coin, when it goes up, I will sell some back to USDT. Doing it that way will make you not to lose much of your portfolio when market is on the downtrend

Stradivarioos

member

Activity: 350

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I think to buy more coins while the price fell uh a good idea, as you will quickly cut losses when the market goes up, and faster will be to make a profit. There is only one thing "but", what will happen if the market still falls?

Lighthouze

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Quote from: SaféTilt on October 08, 2018, 06:54:31 PM

Quote from: jerry0 on October 08, 2018, 06:36:08 PM

I bought several altcoins where many of the value has fallen by at least 50 percent. Some even close to 80 percent etc. It seems like the altcoins price is more stable now at least a bit compared to months ago. Well bitcoin has been very stable lately. Now let say you bought several coins and each coin was like 1 dollar, 50 cent and 35 cent to make it simple. Now the coins are now like 60 cents, 25 cents and 15 cents.

If you buy more of the same coin now and the same amount moneywise... well if the prices goes back up, it doesn't have to go all the way back to the original prices where you would break even if you sell. But the price it needs to hit is a lot lower for you to break even so to speak. Do many ppl buy coins this way? Thus its like hey even though i bought lot of that coin at 1 dollar and it dropped in half, well if i get more now, well im getting that coin at a lower average price etc. But of course the price can even drop more and make it worst. Example you buy a coin at 80 cents. Then it dropped to 40 cents. You buy more because hey i can get it at huge discount. But price is around that 40 cent mark or even dropped to 20 cents. Do you buy more at 20 cents? My thoughts were hey it dropped to 40 cents... buy. But now it dropped in half to 20 cents. But if you buy and it drop to 10 cents, you cut your money even more in half.

For example you bought 1k token with one token price is 10 dollar.
and after token price decreased 10 to 5 dollar and you bought 2k token more
and after token price decreased 5 to 2.5 you bought 2k more
and after token price decreased 2.5 to 1 you bought 4k more.

I think that is the best way to accumulate . i am doing like that. with that way i am decreasing my average price and while price decreasing i am buying more coins
than i bought before. so with that way also if coin will be pumped 2x that means i am not any harmful situation anymore. i can take my money back with only 2x even that coin drops 90 percentage.
So ı am using that method. Surely if you will do something like that you need to trust your token. because that means day by day you are investing more money than before Cheesy

.

I'm still yet to understand fully this concept of averaging down, cos it seems to me more money gets spent either way and more money is lost should the price of the coin keep dropping.

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