I've got a few altcoins where I was just unable to properly manage the trade and by the time I returned they'd suffered considerable losses. The ALTCOIN/BTC value for a lot of alts has obviously suffered the last few months and my question is: Should we expect those previous levels to be achieved and surpassed any time soon or is it better to exit the trade and start again elsewhere? My goal for most of the altcoins is medium to long term holds - I usually prefer trading in & out of the same alt to increase my holdings.
The reason I'm open to exiting the trade is that even thought the ALTCOIN/BTC value is very much down, the increase in BTC value means that a few of these trades are still slightly positive in USD terms. The gain in btc less the loss of my altcoins still results (in a few cases) in a net positive gain - so there I'm happy to exit the trade. I hesitate though - because these altcoins still seem to have potential.
The example trade below is from SNT (Status Network Token) which by all means should be doing pretty well. It's far from a shitcoin.:
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And looking back over SNT's history we're right at the bottom.
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This pattern is so familiar with (decent) altcoins right now that I'm just a bit unsure of what the best strategy is:
1.) Stay in the trade and hope that 33% btc value loss is recovered or
2.) Exit the trade without much loss in most cases and trade elsewhere (I guess I also need to get over my attachment to certain altcoins).
Or any other advice & suggestions would obviously be welcome.