Should I cash out and take the loss?

[pisston]

At the beginning of the year I got into cryptocurrency think I would make a lot of money if I did a ton of research and learned everything about crypto. So I bought $4k worth of bpt and prl. I would say my stack is worth about $1000 now with a 75% loss. Everybody on this forum talked so highly of those coins thinking it would sky rocket one day but they are just getting so low that I know I will never get my money back & I don't want to lose it all. I guess I'm here to say don't trust anybody on this forum that thinks they know what a good coin is and most differently DONT trust any future "10x coin" on here. Truth is this is mostly a game of luck. I'm out, cashing out so I don't lose everything!

I think that is why you should not invest just because you are seeing a lot of good reviews or recommendation of a certain coin. Invest at your own risk, since it is your money. If you are willing to take the loss, just cash out. If not, you can hold and wait for the market to recover. Remember that you will not incur losses as long as you are not cashing out or trading.

It seems to me that investments in this period are much more profitable than it was at the end of 2017. Therefore, if you make a purchase of coins using today's chances, then the income will be unambiguous.

[lubah]

At the beginning of the year I got into cryptocurrency think I would make a lot of money if I did a ton of research and learned everything about crypto. So I bought $4k worth of bpt and prl. I would say my stack is worth about $1000 now with a 75% loss. Everybody on this forum talked so highly of those coins thinking it would sky rocket one day but they are just getting so low that I know I will never get my money back & I don't want to lose it all. I guess I'm here to say don't trust anybody on this forum that thinks they know what a good coin is and most differently DONT trust any future "10x coin" on here. Truth is this is mostly a game of luck. I'm out, cashing out so I don't lose everything!

I understand your desire to earn more than your friends, but this does not mean that you can get a big profit. I would recommend you to stop and wait for the market to show a good price. Wait and have patience.

[komjhq]

At the beginning of the year I got into cryptocurrency think I would make a lot of money if I did a ton of research and learned everything about crypto. So I bought $4k worth of bpt and prl. I would say my stack is worth about $1000 now with a 75% loss. Everybody on this forum talked so highly of those coins thinking it would sky rocket one day but they are just getting so low that I know I will never get my money back & I don't want to lose it all. I guess I'm here to say don't trust anybody on this forum that thinks they know what a good coin is and most differently DONT trust any future "10x coin" on here. Truth is this is mostly a game of luck. I'm out, cashing out so I don't lose everything!

I think that is why you should not invest just because you are seeing a lot of good reviews or recommendation of a certain coin. Invest at your own risk, since it is your money. If you are willing to take the loss, just cash out. If not, you can hold and wait for the market to recover. Remember that you will not incur losses as long as you are not cashing out or trading.

It seems to me that investments in this period are much more profitable than it was at the end of 2017. Therefore, if you make a purchase of coins using today's chances, then the income will be unambiguous.

but a huge problem is the choice of a project in which you can make a profitable investment. To date, all coins are almost equal in their capabilities and only some are showing their potential.

[Mahanton]

At the beginning of the year I got into cryptocurrency think I would make a lot of money if I did a ton of research and learned everything about crypto. So I bought $4k worth of bpt and prl. I would say my stack is worth about $1000 now with a 75% loss. Everybody on this forum talked so highly of those coins thinking it would sky rocket one day but they are just getting so low that I know I will never get my money back & I don't want to lose it all. I guess I'm here to say don't trust anybody on this forum that thinks they know what a good coin is and most differently DONT trust any future "10x coin" on here. Truth is this is mostly a game of luck. I'm out, cashing out so I don't lose everything!

I think that is why you should not invest just because you are seeing a lot of good reviews or recommendation of a certain coin. Invest at your own risk, since it is your money. If you are willing to take the loss, just cash out. If not, you can hold and wait for the market to recover. Remember that you will not incur losses as long as you are not cashing out or trading.

It seems to me that investments in this period are much more profitable than it was at the end of 2017. Therefore, if you make a purchase of coins using today's chances, then the income will be unambiguous.

Same observations and most people on crypto specially on early year 2017 do observe such thing too specially for those who do make such investment on early quarter and making out profits do happen on year end of 2017 and most investors believe the same trend and continue upto these days on what they do believe with ico probability on making profits but i would say its entirely different so expect outcomes wont really be the same on last years profitability.

[CryptoGuro1]

only cash out if you believe prices will go lower in the short term

[nitrocryptonitro]

Hi OP,
As everyone previously mentioned, NO, NO, and NO, you shouldn't sell now.
In crypto world, the golden rule is to not take your loss if it's more than 20% (except if you know exactly what you are doing).
If you take it, of course, that could a nice lesson, and a good occasion for you to learn that you shouldn't have sold your currencies.
As soon as you sold them, you are the loser. If you hold them, you are not a loser, neither a winner.

And if it can soothe your mind a little bit, lots of people in private groups are bullish about BPT and everybody agrees to say that it has lots of potential.
Of course, if you buy at 4x the actual price, it's possible that you won't be in credit at the end, but your deficit will be less than the one you would have met if you sold now.

Concerning PRL, well, I don't know nothing about it, so I won't say anything.

But I also sympathize with you, as I guess that since January, you should have seen lots of very good opportunities, and you weren't able to surf on them.
That's the game, and the pain that you can feel at the moment, is in fact the lesson that is been learned !

[dx5]

Unless you really need the money don't cash out. I've done that and regretted it. But then because of that regret other times I did not cash out and regretted that.

[minttop]

Wow, PRL is an outstanding and potential coinbut you've bought it likely on a pump for x10 price and that's the reason.
Remember,that PRL just finished ICO ( half a year) and such a fast growth can't be natural. Don't fix your loss, HOLD!

[Soranith]

If you came here to become rich then you have to be patient you cant be rich overnight dude those who became millionaire waited years for it to happen. And you obviously bought when everything went on top so I guess you got FOMO, I hope you learned your lessons bro and don’t worry younstill have your chance of getting rich but giving up won’t make you one.

[cutiemolit]

Prefer not doing that. That's not a good idea. Surrendering in a fight will not help you to be a winner but end up a loser. It's better to hold on to your coins, the low price that we experience today is just a part of the market since we are still dealing with currency. Patience can help you to be successful if you will wait with further development in the market. Surely it will survive the drop. They are already trying their best too in order to recover the price.

[therealelon]

I bought PRL in december and made a killing, you in january and a huge loss. It is just a coincidence, don't let your head hang! Also, just 2 coins is a bit low. I have 5 coins at least in my portfolio always

[xandra]

At the beginning of the year I got into cryptocurrency think I would make a lot of money if I did a ton of research and learned everything about crypto. So I bought $4k worth of bpt and prl. I would say my stack is worth about $1000 now with a 75% loss. Everybody on this forum talked so highly of those coins thinking it would sky rocket one day but they are just getting so low that I know I will never get my money back & I don't want to lose it all. I guess I'm here to say don't trust anybody on this forum that thinks they know what a good coin is and most differently DONT trust any future "10x coin" on here. Truth is this is mostly a game of luck. I'm out, cashing out so I don't lose everything!

Before you dive in here in crypto world you already know what are the consequences . The volatility of the market is really real when it fall down it really go down and the pump was so slow but when it pump it will give you the profit what you want.. As what I always read and also experience you should have the PATIENCE and PERSEVERANCE  to hold and wait.

[m.vina]

At the beginning of the year I got into cryptocurrency think I would make a lot of money if I did a ton of research and learned everything about crypto. So I bought $4k worth of bpt and prl. I would say my stack is worth about $1000 now with a 75% loss. Everybody on this forum talked so highly of those coins thinking it would sky rocket one day but they are just getting so low that I know I will never get my money back & I don't want to lose it all. I guess I'm here to say don't trust anybody on this forum that thinks they know what a good coin is and most differently DONT trust any future "10x coin" on here. Truth is this is mostly a game of luck. I'm out, cashing out so I don't lose everything!

If you cash out now then you will surely lose. By cashing out you are actually turning your "paper" losses into real losses. However, if you look at the other side, by holding and staying strong, then you actual still have a chance to turn your losses into profits.

Just forget it and just hold now. Delayed gratification is always a good thing.

[Elcapsono]

Perhaps it is worth revising the strategy and starting to participate in day trading, so that you can buy a few promising coins for the profit. I think it will be much easier than selling everything and staying with nothing.

[hs84]

if you need your money,...
there is no other way than cashing out.
if not,... see it like that,... you already lost 75%,.... so how big is the chance to loose 25% more (it will not go to 0!!)
or to make some winnings from this point.

i am longer in,... but i still bought some coins after crash when market cap was around 420 mrd usd.
these coins are at the moment as well in read.

i do not need the money at the moment,...
so i will absolutly not sell them now!!

[Omnipotent1]

Sorry to hear that you lost 75%. You came in at the wrong time.

I think life events have made me not give up even if it means losing it all. When you lose and lose and lose, you kind of get used to keep going and going. So I will stay because there's nothing else to live for. Never give up.

[meldrio1]

Not just altcoins that you hold are down, all the coins in coinmarketcap are down as well even the trusted coins, if the market recover what if the altcoins that you sell will grow, so keep hold if you want to get profit. I see you are weak in investing better to do bounty campaigns to earn without investing money.

[Shadon24]

you should keep an integer and real plain by the undefined or sale that that you really be good, you should should like them and tracking your status as the price in the recent time ok guy.

[mikejack]

I feel you mate,that's what im feeling last few months ago.and its stressed up so much,
Im so greedy that time so i sell it and cash out through cash,after a month that coin pumped and that's killing me.
Note: if you really need money or your in need rigth now,dont think twice,just do sell and cash out,(for emergency porposes)
If not,just hold it,dont cash out.everything is going to be fine and back to normal,just get a cup of tea and relax.

[BTCLovingDude]

just for future references remember than whenever you make an investment in anything you need to set something called stop loss you can read more about it online: https://www.investopedia.com/terms/s/stop-lossorder.asp

but basically it means that you set a number (even manually or in your head) that when you reach that much loss you give up and sell. for example when you invest $1000 you set your stop loss on 5% and when you lose $50 you sell to prevent bigger losses. this is some sort of insurance that you don't lose all your money or end up losing $700 and only be left with $300 ignoring all the fees!