You really cant do much when your portfolio has dropped by more than 50%. The only thing you can do is hodl. Selling at these rates would be foolish and you need to forget about your investment for some time. The markets are going to recover, as there is nothing but positive development happening in the crypto world.
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Hodling is good but I hope you got your initial investment back from the market. You need to should at least sell the initial investment you did so that the only coins left would be your net profit and you wouldn't have to care about where the price goes.
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This is actually good for traders as it gives them volatility and this is actually what traders want. You just mentioned the thing that makes it easy for traders as being difficult. It doesn't matters if the price goes up or down, a trader can go long or short according to his needs.
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Yes bitcoin will go below $5k but when is no ones guess. There are too many predictions being made of the price reaching near $3k low. If you look at the btc history than thats the price range that should be the bottom of bitcoin price. The market will only recover after that.
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To have patience and be able to hodl you need to forget about your investment and stop checking out the prices every day. You can only do this is if you invested in a coin with strong fundamentals. If the coin is strong than you don't have to worry about it everyday or check its prices but just invest and forget about it.
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Binance is the one who has my trust and the only exchange I think will survive in the long run. If you don't know about the recent Binance api hack from a third party app then read about it and you will gain the same trust as me for Binance. Also it has announced a dex exchange which it is going to launch which will keep it up to date with the current market trend.
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Don't know if this counts but was scammed by a guy once from LocalBitcoins. Lost a large amount of bitcoins. Never go outside the escrow facility of Localbitcoins guys.
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Have tried trading many times but never made any money with it. Even if I made a nice gain in some trade than I mostly lost it in the subsequent trades. Trading is a zero sum game.
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No matter how lucrative a market is, investing all your savings is like jumping from an airplane with a parachute with holes in it. Never go full retard. You shouldn't invest more than 50% of your savings into something.
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Suppose you invested in a low market cap coin or an ICO and suddenly the price has dropped by 50%, plus you had put your hard earned savings into it, now imagine all these conditions into one and you might realize how you panic.
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What you are saying is called trading and no trading isn't for everyone. As most of the new traders end up losing money. A very small percentage of people are able to successfully trade. You are better off just hodling your coins as you are going to make better returns that way than trading.
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Do you expect a coin to just keeping on going up forever? Even after such a mega rally its been through you aren't satisfied? These are corrections and the market will soon recover.
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Yes it will go below $5k but not this month. It will take few months to go that low. It cant just drop so much since it has a much bigger market cap now.
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It should have a negative impact on Bitcoin as during recession people would want to move to a safer option and Bitcoin is a high risk asset and people would already be in fear mode and avoid Bitcoin.
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Yes, Bitcoin can reduce to $4k but not due to the reasons you have listed, but rather due to corrections after a mega bull rally. There isn't any such thing as price drop due to the Binance hack. On second note Binance wasn't even hacked, it was a third party application that hacked users apis.
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With Bittrex not letting new users to register and Poloniex going to implement KYC after first quarter of this year, I don't think any of both the exchanges is going to be attractive. I would rather trade on Binance and Kucoin than anywhere else.
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Yes you can make arbitrage but you probably need bots to do that for you. Also if you are going to do small amounts than you are going to end up losing money as the exchange withdrawal fees are going to kill you.
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There are three options: Cold Storage: Store them in an offline computer or different OS and only use it for tranferiing and storing coins. Paper Wallet: Print your Bitcoin private key on a piece of paper and store it somehwere safe. Hardware Wallet: This is the best option as it more easily accessable and secures your Bitcoins well too.
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The only situation I can think of is if quantum computers are able to break the bitcoin encryption algorithm. You can only expect chaos than. Other than that there are forks so even if miners become evil and start harming bitcoin than it can be forked and taken back from them.
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This is a good offer.
I am curious why are you selling them?
I would buy them if I had that much money right now but my money is stuck in many crypto investments.
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