What to do when price is dump?? - page 18.

20kevin20

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Quote from: Furious 7 on March 12, 2020, 09:49:45 AM

At times like this I think it's better to secure your assets or convert to a more stable USDT compared to holding it in crypto form because it's still hard to guess, just look at the market decline so badly that even to buy we have to do more research for fear of decline deeper

What if tomorrow everyone decides cryptocurrencies are safe haven assets and will pump all their money in them? There's always a possibility. All my alts -> USDT moves turned out to be a very bad decision during hard times.

I still go for the idea that this is a time to sit back and relax. Just look at the path the market takes. This is a period in which today we have a 25% dump and tomorrow we might witness a 50% pump. Taking decisions right now may turn into regret soon enough. Unless you have critical information and have an advantage over the other traders, this is a bad move..

But comparing what's going on in the crypto world with what's going on with the stocks is pointless. So is thinking that any critical information you have will make you take good choices in the cryptocurrency markets. The crypto market is too unpredictable.

rdluffy

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In my position I only have to hold, because I lost the moment when cryptos starts to fall, so it's a dumb thing to do if I sell now
If you sold at the right time, congrutulations, you just have to wait for some signal of uptrend to buy again

I think most of us are stuck now, only holding, there´s no reason to sell now and I can´t believe people are selling now

Wintersoldier

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Quote from: Ifemini on March 12, 2020, 09:42:46 AM

The basic solution in times as this for traders is to Hold their/your capital in fiat or stable coin then wait patiently, then you get into the trade after there has been few more rekts or tokens has reached the bottom.

What do you think? Is it a smart move at this time?

The best thing to do when the price of cryptocurrency is dump is to hold until the bear market stops or until all of your cryptos have increased it's price, so that you would not have any regrets when you are about to sell all of your cryptocurrencies. Selling all of your cryptocurrencies is not a solution today because you could lose a lot money if the market suddenly goes up.

passwordnow

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Leading Crypto Sports Betting & Casino Platform

It might work for you but I'll just hold if it's bitcoin and will add more of it as much as I can. It's the best and perfect time to add more pile on your stash because we're bleeding. The famous quotation from Warren Buffett shall be applied in these times because we're all experiencing it and on his perspective although he's a known bitcoin basher but applying his thought, this is a perfect opportunity to start buying.

samcrypto

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Wait for the price to dump more and be ready for the possible dip price, this is not end yet and we should remain calm and stay positive. I don’t sell and trade for now because its very volatile and no buyers yet. The virus is soon to end, the market should retrace from that time, stay patience and never to panic selling.

Yogee

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That is easier said than done.

It's also possible that by the time you converted your asset into fiat or stable coin, the price suddenly bounced and you are left with the option of either buying back at a higher price or wait for another dump.

Another scenario is that you bought back thinking it already reached the bottom, but the price fell even more a few hours later.

Mulann2

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Quote from: Ifemini on March 12, 2020, 09:42:46 AM

The basic solution in times as this for traders is to Hold their/your capital in fiat or stable coin then wait patiently, then you get into the trade after there has been few more rekts or tokens has reached the bottom.

What do you think? Is it a smart move at this time?

The smartest thing to do at this time is to hold your money in stable coin or fiat i.e if you are able to detect that the market will go low and sell to usdt or any stable coin to buy back below, otherwise, just hold and wait for market to recover, it is often said that you only loss when you sell, if you don't sell you haven't loss anything,
for me convert to stable coin is best option because it will give me the opportunity to quickly buy back, imagine bnb and many other good coin price is very low and affordable now.

Furious 7

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At times like this I think it's better to secure your assets or convert to a more stable USDT compared to holding it in crypto form because it's still hard to guess, just look at the market decline so badly that even to buy we have to do more research for fear of decline deeper

Ifemini

member

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There are consequences for every action

The basic solution in times as this for traders is to Hold their/your capital in fiat or stable coin then wait patiently, then you get into the trade after there has been few more rekts or tokens has reached the bottom.

What do you think? Is it a smart move at this time?

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