It seems with the BCH fork, BTC's run up to 5k dollars, now more forks for Bitcoin most Altcoins have been in a downward trend, or certainly the ones I'm holding!?
then maybe you should have planned ahead of time and sold them when you saw the downward trend and either stayed away or bought back at the bottom. instead of buying on top and holding just to watch the price decline.
When will the prices recover back to June highs?
for most altcoin, NEVER.
for others not for many months until they get a huge pump.
the thing is that the previous highs that altcoins had were mostly pumps and bubbles and you can't expect the price to go back to the top of a bubble.
I'm hoping there will be a decent upside once BTC stabilises after this fork nonsense.
bitcoin price never stabilizes! it has always been volatile with short periods of stability. and when the fork nonsense ends the price starts to shoot up! unless you call fast rise "stable".
Although I'm debating whether to convert into BTC and re-buy after, but this could prove risky.
you should "convert back to BTC" when price is still high or as i said when you see a dump is happening not after it ended and you lose a lot of money.
What are your thoughts on the Altcoins you're HODLING? Are you selling or accumulating still?
i never hold any altcoin for longer than i should. i buy when they are not yet in a bubble and dump them as soon as they are. and if i see a dump i dump faster to prevent a bigger loss.
Yeah this is good advice . . . given what happened during the BCH fork I should of been better prepared. Luckily I've had some wins on other Altcoins and BTC has increased so still up overall.
I guess I'll wait till a pump and sell all my Alts (damage limitation), hopefully this happens before 23rd October as I'm away for a month!
