what if faced with such a situation and what your backup plan is

[spyerf]

whether you have a backup plan if you are involved in trade issues, such as significant price reductions or down too far, and there are two options that exist in your view between holding or selling them, each having different risks, holding back and expecting prices to back to normal but I think it will take a long time or sell it and accept the loss and then buy it back with the sales you have generated.
maybe you some better advice you can give me.
i appreciate everyone's opinion.

In trading, we do not involve only one coin as a mainstay. to keep things as you mentioned. Because in terms of trade will definitely face this kind of thing. Keep in mind, in terms of trading not only rely on his own ability, because there are important things you should have, that is patience. So when problems like this we face, we can hold it, wait until the price recovers. because we can still run trading on other coins.

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[Icaxx]

Tradinv with downtrend in cryptocurrency is always difficult an dits hard to make decision since we are worry with our capital.
All the decision is not always the same though its the same downtrend because there is very rapidly downtrend and normal downtrend.
For normal downtrend, holding and hope the price back is better rather than sell it. And also the opposite.

[Yaunfitda]

whether you have a backup plan if you are involved in trade issues, such as significant price reductions or down too far, and there are two options that exist in your view between holding or selling them, each having different risks, holding back and expecting prices to back to normal but I think it will take a long time or sell it and accept the loss and then buy it back with the sales you have generated.
maybe you some better advice you can give me.
i appreciate everyone's opinion.

Personally, I have one tokens whose price magically dropped and I quickly lost $1K. Its not that much, but I have work hard for that money and its seems I made the wrong made here. However, I just decided to give it more time so I will hodl because I don't want to accept the loss and I still believe that it can co bigger in the next couple of month.

The only advise I can give to you is to just waited it out for a few months and see how it goes. Another option that I see is that you sell today accept the loss then re-invest it on other coins and see if you can recover.

Again, my case is different because I still see bigger things from my investments that's why I decided to hold up to now. Otherwise I would just dump it today and put it on other coins.

[LodisMcguire]

First of all,trade what you're willing to lose,so you don't have a hard time to decide between sell or hold.For me if i gotten in such situation i prefer to hold and wait,because you don't know what will happen,except if you're holding a bag of shitcoin,just cutloss and move with a new good coin.

[orions.belt19]

In most cases, the price of a coin will eventually go up. It's just a matter of when and waiting for the right time. There times however when a coin totally dies and this is if the coin has totally devalued and is no longer of used. If this were the case, then it would be time to accept and cut losses. There are tell tale signs when a coin is dying. But if the coin were simply experiencing a dip, then you should simply hold on it until the price goes up again. The only back up plan you can have is to buy several coins and diversify your portfolio so that you don't lose once one coin devalues.

[AnonBitCoiner]

whether you have a backup plan if you are involved in trade issues, such as significant price reductions or down too far, and there are two options that exist in your view between holding or selling them, each having different risks, holding back and expecting prices to back to normal but I think it will take a long time or sell it and accept the loss and then buy it back with the sales you have generated.
maybe you some better advice you can give me.
i appreciate everyone's opinion.

If such situation is happen to myself , surely I will hold my bitcoin.I had a habit of investing the independent money in trading.So if the price of bitcoin is reach to 100$ now means,I don't boughter at all.Because I had buying the bitcoin for my future ,I don't sell the valuable bitcoin at low price.

[Scallywag]

that is the risk of trading and that risk is even higher in crypto , because out of nowhere anything can happen. but there are some things you can do to reduce the risk , when i make a certain amount i just cash some out . i think when you really understand how risky this is and you take some safety measures you should be good either way.

[19faraon88]

whether you have a backup plan if you are involved in trade issues, such as significant price reductions or down too far, and there are two options that exist in your view between holding or selling them, each having different risks, holding back and expecting prices to back to normal but I think it will take a long time or sell it and accept the loss and then buy it back with the sales you have generated.
maybe you some better advice you can give me.
i appreciate everyone's opinion.

Every investment always have a risk, we don't know what will be happened to it. But in bitcoin, having unstable price, you/we prepared to hold than to sell. We know that bitcoin will not drop its price to very lowest or let say at Zero price. Holding bitcoin just like saving our money in long Term.