Topic: Should I buy more of the same altcoins as price keep dropping? - page 2. (Read 267 times)

You are right, the average buying price will be lower and you will break even at a lower price. It is a good idea to buy more of the coins when price is lower, but that is if you believe in this coin.

Well, go for the top 10 list from CMC and you will find the potential coins for investing your money. If you consider 500+ on CMC, would really be a more than investing in shitcoin but those can hugely profit if you can be updated. There are some pump and dump coins too.

What specific coins would you say is good to do this with?  Which coins are not? 

I use this strategy (averaging) ,when I'm sure that the digital asset is in a drawdown temporarily and someday the price will recover. For example, when I watched the ether fall from 1300 to 200$, I periodically bought a little at the levels of 500, 400,300, 200. No one knows when the market will reach the bottom, at any moment it can go up, so I prefer to buy a little, not just watch.

If you are talking about a good potentials coin, of course, this is a great strategy to minimize the BEP. I think you should buy more at the dip so that if coins get little bit more prices, your losses will be recovered. On the other hand, if it's a shitcoin, just get out of the market and put your money on a good one.

I think yes ... you see, you will get more in percentage terms in cases of growth ... although this is risky

anyone else have thoughts on this?

of course, because if you buy more altcoins that you have when the price goes down and when the price starts to increase then the profit you get will be even greater, because the amount of coins you have is very much.

It depends what coin you choose. If your buying coin is good then yes you can buy more at the low price, because this coin's price will high again, right? But if you don't know much about that coin, then  You shouldn't but at the low price! you should move into other coins. You have many options in the crypto market, then why you stay stuck at dropping coin?

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 .

I did that .If you like something else and you believe in that project you should invest in that one also. Its good to put all your eggs in different basket and not only one . If one fails maybe the other projects will succeed

I won't, i just try move to another way and then just like my coin in my wallet, if that was going down even more and does it make sense for you tobuy more and more of them if there was a bunch of altcoins that have a lot of potentials. That doesn't make sense to buy them more and more. Forget that coin and more to a better one.

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.