Do You Hold Altcoins In A Downtrend Market?
It is easy to make a profit in a bull market. Altcoins can give 10x, or 12x returns. Since the market is on an uptrend, people can buy altcoins and sell them later to make a profit.
When the market starts going down, altcoins price drops a lot. If you fail to exit from the market, you may lose a lot of money along with your initial capital. No one wants to lose money, right? You may think the price will go up from the support level. But every support breaks in a downtrend market. Put a stop loss when you do trading. It will save your capital. If you have a high conviction on some altcoins and think long-term, you may hold them. Otherwise, it is better to exit the market when the market color turns red.
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It's tough to deal with altcoins and I also think it's bad to hold onto them. Most of the time, I just don't think they will survive because the projects were small to start with.
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That's what usually happens. Exit from the market in time can save you from big loss.
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