Big Dump

[tvplus006]

...My only advice to anyone in the market is to never sell the coins at a loss, all you need is the patience to hold for a long period even if the market goes down as the market will recover eventually.

I don't think this is the right advice, very often selling coins at a loss we fix it, not allowing it to become even bigger. In such cases, we can buy this coin at a lower price than we sold it. And just sitting and waiting for the price of the coin to return to the previous one is inefficient, since this wait can last for several years.

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[Pamadar]

Did you remember what last tweet from CZ, if you wanna be rich you must hold and be patient with your assets and never panic for selling coin, but if you want not be rich you can sell your coin when have lower price. I believe with potential coins when dump have chance for us to get much profit because always amazing way for bitcoin and altcoin price. Every time have big chance for any coin break up to higher price and depend how can be patient when your coin dump.

Something that needs to be assess.

If you have good sets of plans on both long and short term investment, you'll be able to sort things out. Never to allow yourself to decide without thinking twice, you'll have to keep your patience in the right place, it will help you to keep what assets to hold and what is needed to let go and to move forward.

[isaac_clarke22]

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That's a lot of loss, OP.
Just wait for a price correction then decide to buy something back and hodl again.
Made that mistake before and I was emotionally strained so I just stopped and decided to get back into investing and hodling game again.
I would advise to not panic, OP. You would almost likely decide wrong. Almost 100%.

[btc_angela]

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That's a lot of loss, OP.
Just wait for a price correction then decide to buy something back and hodl again.
Made that mistake before and I was emotionally strained so I just stopped and decided to get back into investing and hodling game again.
I would advise to not panic, OP. You would almost likely decide wrong. Almost 100%.

We won't see big correction though, if we are going to see dip today, it will just be for the health of the ecosystem. Yes, you will really feel safe an no stress whatsoever if you just buy and HODL. That old mantra never gets old. And you have total control, if you want to sell it you can do that anytime.

And if you really wanted to hold for at least a year, your only enemy is yourself, you need to have that mental toughness. But in any case, if you see your portfolio going up, then it will be very easy for you to just think and hold.

[Ararbermas]

Waiting is the best option on that kind of situation.. Never surrender because of your doubts as long as the project where you invested your money is still making progress after all despite of the huge dump... Keep on your mind that the market is so volatile due to some causes, therefore you still have the chance to recover.. so you better be patient. Keep hoping that you can regain all of your losses and you can earn more profits after all.. Make a technical analysis so that you know what are the good and bad news about the circumstances. Much better i guess rather than panicking.. 

[Xxmodded]

Now have big dump because bitcoin have lower price and make many altcoin going on lower price, maybe correction or bitcoin have enough raise to higher price and back to usual place on lower price, but I hope still have big chance for bitcoin and altcoin keep stable higher price and give me chance to get profit and later could be down, any moment we need to buy back when bitcoin or altcoin have lower price because later just wait only when raise higher price could get enough profit.

[ice098]

Now have big dump because bitcoin have lower price and make many altcoin going on lower price, maybe correction or bitcoin have enough raise to higher price and back to usual place on lower price, but I hope still have big chance for bitcoin and altcoin keep stable higher price and give me chance to get profit and later could be down, any moment we need to buy back when bitcoin or altcoin have lower price because later just wait only when raise higher price could get enough profit.

As of now my holdings experienced dump as well because most of it are bnb based coin but it doesn't matter I will still hold my coin until bnb gets to $300 and up in the next few days, it is only Monday weekends are the day to go shopping some coins, dumping is very normal price correction is normal wait for it it will pump again same to goes to bitcoin it might be down today but soon it will go higher than we expected.

[bitbollo]

most of times these flash crashes like today are a good option for taking bitcoin or other altcoins with an huge discount.
yesterday price was around 56K usd and now has touched just 51K. Easy 10% of discount from yesterday price.
I know it's a kind of risk operation, but if you look in perspective and with a long time frame you will be grateful each time price has these huge correction. It's like bitcoin will pass from "weak" hands to "stronger" hands

[pawanjain]

My buying price was also good and investment  not much.
I was in a loss of around 300$ almost
It started gaining i stopped. Selling and decided to wait for it to come back. I am in 300$ loss currently  Total  investment  was 689$ all in spots currently.

I assume that you were worried about the price of bitcoin and right now the price has rallied and it is another all time high valuation and hence your query is sorted i guess. My only advice to anyone in the market is to never sell the coins at a loss, all you need is the patience to hold for a long period even if the market goes down as the market will recover eventually.

Never selling at a loss actually depends on whether the person is a trader or an investor. Investors can hold their coins for a long term and need not worry about the short term dumps.
In the long run almost every potential cryptocurrency gains in price. If the person is a trader then it depends on his strategy.
If he wants to minimize losses and save his capital then not selling would be a bad idea. Selling at minimum losses and then buying back at the bottom should be a sure short approach to maximize gains.

[bitbollo]

In the long run almost every potential cryptocurrency gains in price

it's really the opposite for what I have seen and I can show you with some data taken during "ICO MANIA" of 2017.
I get some data from this topic https://bitcointalk.org/index.php?topic=2106360.0 "The next 100x or 1000x coin", where people trying to guess/suggest the coin that could receive a big pump during end of 2017 early 2018.
Plus coins were suggested here as the best coins for a speculation ... and these are the results after 3 years:
13,18% Reported a positive result.
10.83% Reported a 0 (total loss)
the others just negative results (prices go down).
(full post here https://www.publish0x.com/bitbollo-cryptocurrencies-blog/a-depth-analysis-of-bitcointalkorg-speculation-thread-the-ne-xpnnjwq )

[pawanjain]

In the long run almost every potential cryptocurrency gains in price

it's really the opposite for what I have seen and I can show you with some data taken during "ICO MANIA" of 2017.
I get some data from this topic https://bitcointalk.org/index.php?topic=2106360.0 "The next 100x or 1000x coin", where people trying to guess/suggest the coin that could receive a big pump during end of 2017 early 2018.
Plus coins were suggested here as the best coins for a speculation ... and these are the results after 3 years:
13,18% Reported a positive result.
10.83% Reported a 0 (total loss)
the others just negative results (prices go down).
(full post here https://www.publish0x.com/bitbollo-cryptocurrencies-blog/a-depth-analysis-of-bitcointalkorg-speculation-thread-the-ne-xpnnjwq )

The term 'potential cryptocurrencies' is subjective here and can lead to coins with one's own perspective of how potential they are.
For me, bitcoin and ether (and recently DOT) are the most potential coins and they have crossed their ATH recently (pairing with USD).
So yes, they did increase in price in the long run right. I know that many cryptocurrencies depreciate in price but I believe the potential ones just gain in the long run.  

[LUCKMCFLY]

I started selling. I was confused is it good to exit and buy low later.
 

Well, confusion is a trait of fud and fomo; and to be a successful trader you have to overcome and be able to handle your emotions. The best way to trade and earn is to sell the bulls and buy the bears; and if you are looking for an exact example to do so; there was a flash and quick dump today after bitcoin dropped. Did you take profits ?

Well if you are a trader, you have to know that at the moment there is a correction that you can take advantage of, it is good, sometimes you have to follow the line of least resistance, but you must understand that this means that when the correction ends the price can rise from bitcoin and you can continue buying, it is not too late, the market will always give you opportunities to enter.

[Hobo66]

Dude, if that bump loosened your grip, you might want to get out if crypto.  This dip made me happy.  We do not want to climb too fast and I want to buy more.  Change your perspective and emotions if you are going to stay.

[blockman]

Dude, if that bump loosened your grip, you might want to get out if crypto.  This dip made me happy.  We do not want to climb too fast and I want to buy more. 

You get why the dip had come. It's very necessary to see it if we want to get a higher price. The smoother the better and the more stable.

Change your perspective and emotions if you are going to stay.

It is one of the hardest enemies in trading and investing in crypto, don't let your guard down.

[hahay]

Selling now when the price is falling is definitely a loss but if we choose to keep holding it, I think it will be a long term hold because it looks like the bullish period is over. So yes, selling might be good for cutting losses so you can buy other altcoins that may still have a chance of giving you a quick return, so whatever you choose will still have risks because it's not a safe market.

[BITCOIN4X]

Selling now when the price is falling is definitely a loss but if we choose to keep holding it, I think it will be a long term hold because it looks like the bullish period is over.

I hope that institutional investor are not affected by the recent correction in price. If they panic, the price will fall even worse. The bullish season is still not over in my opinion and it is natural that this correction provides opportunities for other investor to buy more crypto asset in the market.

So yes, selling might be good for cutting losses so you can buy other altcoins that may still have a chance of giving you a quick return, so whatever you choose will still have risks because it's not a safe market.

Yes, but it would be terrible if done on a large scale. I'm sure the market will recover after this and it might take some good news to see it pumping so strongly. Selling or holding it is one option, securing fund is one way to reduce the risk of loss when the market is down. Agree with you.

[cyriljundos]

beginners in trading experiencing that also but your lose is too much. be careful in buying a coin that is not trusted and always analyze the flow of a coin you invest in so that you can gain profit and you cannot lose more money. just learn more trading techniques and know how to read graphs.

[so98nn]

Let me ask you this. How did you lose $300 (43%) out of your total investment of $689 when BTC barely dipped 5% and then rebounded fairly quickly?

Might've been shitcoins. Come to think of it, almost every single decent altcoin is just going up(slightly in BTC, mostly in USD) that it would need to take spectacularly bad picks to lose money in this bull market lol. Heck, even the crappiest BSV is up in USD since the past month.

Or could be a bitcoin itself. Let us not forget that bitcoin is also moving up and down with enormous volatility, like 2k to 4k USD up and down every other day. Looking at his investment of 600 bucks he might have entered at high peak and now since bitcoin is going down back again he ended with that much loss.

His math seems wrong. Bitcoin dumped around 5-6% daily and max 11% two days ago. Could be the thing he sold at different points which were wrong.


I bought at the ATH too, but it does not mean you have to be panicked about the price dropping. If BTC has achieve that ATH today then it will come back to that price one more time in the future also. So why fear so much?

Just hold and to overcome the losses which is temporary, you can buy more at lower values. 

[Yatsan]

It is just fine to sell if you do see that you cannot take the effect of the dump and cannot certainly endure the loss you are having as of the moment. Just take time to compose yourself for awhile and if you are already prepared once again, then get back into trading and try for another time. You do not to push yourself into limitations because better to cut your loss in as early as possible if you are seeing no potential gain and you are just continuously on a losing streak. That is why before engaging into trading you must know your coin well so that you will know its potential to not make you panic once you experience sudden changes in the price because you know that no matter what happen, you will just need to trust the process.

[TravelMug]

It is just fine to sell if you do see that you cannot take the effect of the dump and cannot certainly endure the loss you are having as of the moment. Just take time to compose yourself for awhile and if you are already prepared once again, then get back into trading and try for another time.

Agree, it's not just money that are involved here, emotions too play a big part of it. So we really need to compose ourselves if we see big lost in our trading. But when we go back, we should learn from that mistakes and be strong mentally.

You do not to push yourself into limitations because better to cut your loss in as early as possible if you are seeing no potential gain and you are just continuously on a losing streak. That is why before engaging into trading you must know your coin well so that you will know its potential to not make you panic once you experience sudden changes in the price because you know that no matter what happen, you will just need to trust the process.

Even in gambling as well, if you push and try to recoup your lost by playing emotionally, the result will be worst for you. As for trading, yes we can study and do our own investigation, but you have to factor as well that we can't control everything so we need to be prepared.