Should I buy more of the same altcoins as price keep dropping?

[jerry0]

I bought several altcoins where many of the value has fallen by at least 50 percent.  Some even close to 80 percent etc.  It seems like the altcoins price is more stable now at least a bit compared to months ago.  Well bitcoin has been very stable lately.  Now let say you bought several coins and each coin was like 1 dollar, 50 cent and 35 cent to make it simple.  Now the coins are now like 60 cents, 25 cents and 15 cents.


If you buy more of the same coin now and the same amount moneywise... well if the prices goes back up, it doesn't have to go all the way back to the original prices where you would break even if you sell.  But the price it needs to hit is a lot lower for you to break even so to speak.  Do many ppl buy coins this way?  Thus its like hey even though i bought lot of that coin at 1 dollar and it dropped in half, well if i get more now, well im getting that coin at a lower average price etc.  But of course the price can even drop more and make it worst.  Example you buy a coin at 80 cents.  Then it dropped to 40 cents.  You buy more because hey i can get it at huge discount.  But price is around that 40 cent mark or even dropped to 20 cents.  Do you buy more at 20 cents?  My thoughts were hey it dropped to 40 cents... buy.  But now it dropped in half to 20 cents.  But if you buy and it drop to 10 cents, you cut your money even more in half.

[makishart]

I won't, i just try move to another way and then just like my coin in my wallet, if that was going down even more and does it make sense for you tobuy more and more of them if there was a bunch of altcoins that have a lot of potentials. That doesn't make sense to buy them more and more. Forget that coin and more to a better one.

[vrabac68]

I did that .If you like something else and you believe in that project you should invest in that one also. Its good to put all your eggs in different basket and not only one . If one fails maybe the other projects will succeed

[SaféTilt]

I bought several altcoins where many of the value has fallen by at least 50 percent.  Some even close to 80 percent etc.  It seems like the altcoins price is more stable now at least a bit compared to months ago.  Well bitcoin has been very stable lately.  Now let say you bought several coins and each coin was like 1 dollar, 50 cent and 35 cent to make it simple.  Now the coins are now like 60 cents, 25 cents and 15 cents.


If you buy more of the same coin now and the same amount moneywise... well if the prices goes back up, it doesn't have to go all the way back to the original prices where you would break even if you sell.  But the price it needs to hit is a lot lower for you to break even so to speak.  Do many ppl buy coins this way?  Thus its like hey even though i bought lot of that coin at 1 dollar and it dropped in half, well if i get more now, well im getting that coin at a lower average price etc.  But of course the price can even drop more and make it worst.  Example you buy a coin at 80 cents.  Then it dropped to 40 cents.  You buy more because hey i can get it at huge discount.  But price is around that 40 cent mark or even dropped to 20 cents.  Do you buy more at 20 cents?  My thoughts were hey it dropped to 40 cents... buy.  But now it dropped in half to 20 cents.  But if you buy and it drop to 10 cents, you cut your money even more in half.

For example you bought 1k token with one token price is 10 dollar.
and after token price decreased 10 to 5 dollar and you bought 2k token more
and after token price decreased 5 to 2.5 you bought 2k more
and after token price decreased 2.5 to 1 you bought 4k more.

I think that is the best way to accumulate . i am doing like that. with that way i am decreasing my average price and while price decreasing i am buying more coins
than i bought before. so with that way also if coin will be pumped 2x that means i am not any harmful situation anymore. i can take my money back with only 2x even that coin drops 90 percentage.
So ı am using that method. Surely if you will do something like that you need to trust your token. because that means day by day you are investing more money than before .

[mklost]

It depends what coin you choose. If your buying coin is good then yes you can buy more at the low price, because this coin's price will high again, right? But if you don't know much about that coin, then  You shouldn't but at the low price! you should move into other coins. You have many options in the crypto market, then why you stay stuck at dropping coin?

[King Bounty]

of course, because if you buy more altcoins that you have when the price goes down and when the price starts to increase then the profit you get will be even greater, because the amount of coins you have is very much.

[jerry0]

anyone else have thoughts on this?

[moshuk]

I think yes ... you see, you will get more in percentage terms in cases of growth ... although this is risky

[kobita333]

If you are talking about a good potentials coin, of course, this is a great strategy to minimize the BEP. I think you should buy more at the dip so that if coins get little bit more prices, your losses will be recovered. On the other hand, if it's a shitcoin, just get out of the market and put your money on a good one.

[brusnika]

I use this strategy (averaging) ,when I'm sure that the digital asset is in a drawdown temporarily and someday the price will recover. For example, when I watched the ether fall from 1300 to 200$, I periodically bought a little at the levels of 500, 400,300, 200. No one knows when the market will reach the bottom, at any moment it can go up, so I prefer to buy a little, not just watch.

[jerry0]

What specific coins would you say is good to do this with?  Which coins are not? 

[Jrashid]

What specific coins would you say is good to do this with?  Which coins are not? 

Well, go for the top 10 list from CMC and you will find the potential coins for investing your money. If you consider 500+ on CMC, would really be a more than investing in shitcoin but those can hugely profit if you can be updated. There are some pump and dump coins too.

[bit-freedom]

You are right, the average buying price will be lower and you will break even at a lower price. It is a good idea to buy more of the coins when price is lower, but that is if you believe in this coin.

[Lighthouze]

I bought several altcoins where many of the value has fallen by at least 50 percent.  Some even close to 80 percent etc.  It seems like the altcoins price is more stable now at least a bit compared to months ago.  Well bitcoin has been very stable lately.  Now let say you bought several coins and each coin was like 1 dollar, 50 cent and 35 cent to make it simple.  Now the coins are now like 60 cents, 25 cents and 15 cents.


If you buy more of the same coin now and the same amount moneywise... well if the prices goes back up, it doesn't have to go all the way back to the original prices where you would break even if you sell.  But the price it needs to hit is a lot lower for you to break even so to speak.  Do many ppl buy coins this way?  Thus its like hey even though i bought lot of that coin at 1 dollar and it dropped in half, well if i get more now, well im getting that coin at a lower average price etc.  But of course the price can even drop more and make it worst.  Example you buy a coin at 80 cents.  Then it dropped to 40 cents.  You buy more because hey i can get it at huge discount.  But price is around that 40 cent mark or even dropped to 20 cents.  Do you buy more at 20 cents?  My thoughts were hey it dropped to 40 cents... buy.  But now it dropped in half to 20 cents.  But if you buy and it drop to 10 cents, you cut your money even more in half.

For example you bought 1k token with one token price is 10 dollar.
and after token price decreased 10 to 5 dollar and you bought 2k token more
and after token price decreased 5 to 2.5 you bought 2k more
and after token price decreased 2.5 to 1 you bought 4k more.

I think that is the best way to accumulate . i am doing like that. with that way i am decreasing my average price and while price decreasing i am buying more coins
than i bought before. so with that way also if coin will be pumped 2x that means i am not any harmful situation anymore. i can take my money back with only 2x even that coin drops 90 percentage.
So ı am using that method. Surely if you will do something like that you need to trust your token. because that means day by day you are investing more money than before .

I'm still yet to understand fully this concept of averaging down, cos it seems to me more money gets spent either way and more money is lost should the price of the coin keep dropping.

[Stradivarioos]

I think to buy more coins while the price fell uh a good idea, as you will quickly cut losses when the market goes up, and faster will be to make a profit. There is only one thing "but", what will happen if the market still falls?

[valnd]

If I believe in a coin that's a strategy I normally use when the price is dropping, I normally keep aside some USDT, so when the price of the coin drops, I will use my USDT and buy more of the coin, when it goes up, I will sell some back to USDT. Doing it that way will make you not to lose much of your portfolio when market is on the downtrend

[Magiklair]

I think that you need to buy popular coins which will bring you good profit later when you sell them. To my mind, these coins are btc and ether. To my mind, only these two coins are worth attention now

[ttking]

I think that now it is high time to buy ripple , neo, dash and maybe btc as well. all coins which have some potential should be considered for the long-term keep. I am sure you will succeed if doing so

[Hamphser]

~snip~

These methods are just applicable to those coins which do have potential to increase in longer ones and not to the coins which doesn't really have any potential at all.
Purchasing cheap coins isn't bad but be sure to choose on top tier ones because you can somehow assure yourself that you can able to breakeven once the market
had recovered.Buying on lower price will really give you the urge to accumulate even more and as a trader we do keep guessing on what would be the bottom price
that's why we do commit such decisions anytime because of the volatileness.

[Aleh777]

Yes you can buy more altcoins at this time because of its low price. Now the prices of all altcoins are low so buy now and hold it for future. Hope the value will rise but it takes some time till that we have to wait with patience. But sure once the market returned the value of all coins will increase. But the coins you buy will be good growing coins then only the profit will be more while you sell. So check the coinmarketcap and select the coins from the top ten then you invest. Then only you can see the good income.