I was tempted to sell off altcoin

[MadeMen]

It's understandable to be feel threatened by the wave of dwindling prices in the market. Most times there's the temptation to sell off to avoid losing from the bearish trend but this should not be the case because the market has a nature of volatility and a reduced value is not final.

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[DanWalker]

^[snip]
We are already in a bear market, keeping money is essential now.

Well I did not see we are in the bear market, we are really on that stage right now?

I hope my prediction is wrong, as we all don't expect the bear market to last as long as 2018. That is terrible!

However, if OP means selling his altcoins and reinvest in bitcoin is a good idea.

The market bounced back today and I actually sold some altcoins in my portfolio. I will definitely buy bitcoin but I think I will wait and watch the market for the time being. I think the market will have a correction coming.

[deean_3one]

Hello mate
Do we currently calls the market situation the bear or what?
Today I just opened my storage where i buy and stored most of my crypto coin and the rest I noticed have almost lost 60% of all my asset in dollars so I was tempted to sell off all and take a look at the market to know if there will be corrections, though I have been monitoring the market but I m not really convinced so I decided to share here to know whether I could get some people who  knows about the market to give a little breakdown before I go into such decisions.
I will really appreciate then i can know the reason for such action and decrease in most of the currencies especially BTC and BNB.

Thank you.

I will read all comments to see the reason.

The rise and fall in the price of crypto assets is natural. If things are currently going down, you just need to hold your coins and be patient waiting for the price to go back up. A 60% slump in your assets can return later after the price soars again.

[Flexystar]

Yeah yeah we get it, even I’m also little bit down the road. Things are so worried these days due to many reason mate. For example, crypto getting hampered because of pandemic economic crisis, different bans, and most recently the Russian Ukraine war break out. Due to sudden shocks and fear across the globe the currencies are dropping in the value. Obviously this is temporary situation and we might just see more downfall in the coming days. With the time it could recover but we have to wait.
Plus I would like to think that if the dollar value is dropping then it’s all fine. At the end, all it matters how many coins we have in our wallets.

[tvplus006]

the current market conditions are very painful my asset has decreased by more than 65% this is very painful for me but i am not thinking of selling it at this time because if i sell now i will get a loss.

If you are really sure that there will be no further price reduction, then of course it is necessary to continue to hold the coins. But it may be that you have misjudged the current situation on the market, then in this case your losses will be even greater.

[GowithMi_GMAT]

I'll be honest that I've had that happen too, being in a situation where I lost almost 50% of the amount of coins I invested. then what can i do? not many. I can only wait for correction or recovery in my portfolio. I don't want to make the situation worse by selling at a loss. make sure to stay calm or not panic and also always monitor the progress of the project you are investing in.

[isaac_clarke22]

First, wrong move there mate. Why did you sell when you were still losing? You should have at least still hold a little bit.
For the reasoning, if you're specifically aiming for bitcoin, it's just Bitcoin being Bitcoin. I heard that it has any relations with the Ukraine war that's why it is getting a dip lately.
For altcoins, it's just that some altcoins tend to follow Bitcoin's price correction.

[Godday]

The decline in bitcoin and altcoins due to the war between russia and ukraine created a total crypto dump. you have made the right choice to sell altcoins that are in most wallets also take the opportunity to collect altcoins to wait for the next bull run to happen it's very greedy the market continues to decline day by day better we are safer if we store it in usdt than in altcoins.

[freedomgo]

First, wrong move there mate. Why did you sell when you were still losing? You should have at least still hold a little bit.
For the reasoning, if you're specifically aiming for bitcoin, it's just Bitcoin being Bitcoin. I heard that it has any relations with the Ukraine war that's why it is getting a dip lately.
For altcoins, it's just that some altcoins tend to follow Bitcoin's price correction.

You should not be selling this time OP as the price is still not seen having a good price increase. And this will not be possible this time due to the current war that is affecting the crypto and stocks market. Its better to hold your altcoins for now along with bitcoin because i am pretty sure once the war ended, things will be back to normal. Just be more patient OP, crypto prices will start to surge if there are no negative events happening around that will  trigger the crypto market.

[Rengga Jati]

Hello mate
Do we currently calls the market situation the bear or what?
Today I just opened my storage where i buy and stored most of my crypto coin and the rest I noticed have almost lost 60% of all my asset in dollars so I was tempted to sell off all and take a look at the market to know if there will be corrections, though I have been monitoring the market but I m not really convinced so I decided to share here to know whether I could get some people who  knows about the market to give a little breakdown before I go into such decisions.

Everyone is facing the same situation. I also have lost many percentages in my portfolio. But, I have a strong belief, as far as I am still holding and not selling, I still have a similar amount of the assets, not losing the money.
But once I am selling off, it means I have lost the money for real
Selling off altcoins when the portfolio is exactly down many percent means that we have been ready to lose our money. I don't know why you want to sell off your altcoins, do you feel panic about this market situation? or do you have a very urgent situation so that you must sell off the altcoins even they are very dropped?
Please be wise again and don't panic. Btw, no one knows what will happen to the market situation later. It may keep dropping or rising up again exactly

[Yamifoud]

Hello mate
Do we currently calls the market situation the bear or what?
Today I just opened my storage where i buy and stored most of my crypto coin and the rest I noticed have almost lost 60% of all my asset in dollars so I was tempted to sell off all and take a look at the market to know if there will be corrections, though I have been monitoring the market but I m not really convinced so I decided to share here to know whether I could get some people who  knows about the market to give a little breakdown before I go into such decisions.
I will really appreciate then i can know the reason for such action and decrease in most of the currencies especially BTC and BNB.

Thank you.

I will read all comments to see the reason.

Too bad to hear that mate.
Losing 60% from your investment is really huge and I could say it was a wrong decision but sometimes this gonna happen especially if you are investing in those non-profitable coins as these coins will surely dump badly if the market turns bearish. But I think holding may help however, your emotion has been so strong that you were not able to stop it which lead to selling.
You have to think that the volatility of the market, may we see dumps but this never looks like that forever, it recovers back again which is why holding is very important.

[kentrolla]

There are so many people in your league who have lost more than half of their portfolio due to recent market dump and the worst thing to happen with some of them is they have sold when the market was dumped and then bough again when it was reading (temporary pump) and again they end up losing the amount.

If you have invested in top altcoins then don't cashout when you are in loss as it will surely rise again and just incase if you are doing day trading then trade only with bitcoin and buy at dip, as it increases by 5 to 15 % after every dip and then try converting t to stable coins once you get profit and repeat it as you will be able to recover your loss with few successful trades.

[BIT-BENDER]

Hello mate
Do we currently calls the market situation the bear or what?
Today I just opened my storage where i buy and stored most of my crypto coin and the rest I noticed have almost lost 60% of all my asset in dollars so I was tempted to sell off all and take a look at the market to know if there will be corrections, though I have been monitoring the market but I m not really convinced so I decided to share here to know whether I could get some people who  knows about the market to give a little breakdown before I go into such decisions.
I will really appreciate then i can know the reason for such action and decrease in most of the currencies especially BTC and BNB.

Thank you.

I will read all comments to see the reason.

Do you want here to be Field with shilling and shillers doing there job in Crypto always do your own research, that's a priority, a coin that worked out in 2020 maynot work out right now, you If you have done your research and not convinced with coins in your portfolio you can sell off but this time to be in a rush, do extensive researching on which ever coin you would want to purchase.

[Scripture]

Don’t sell at a big loss, if you’re holding a good altcoins it will recover in time.
This is why having your cut loss level is very important, this can prevent you form losing big money so the next time you trade, set your cut loss level and your target profit as well. The market will recover again, for now don’t panic and if you still have money better to buy Bitcoin.

[magneto]

Hello mate
Do we currently calls the market situation the bear or what?
Today I just opened my storage where i buy and stored most of my crypto coin and the rest I noticed have almost lost 60% of all my asset in dollars so I was tempted to sell off all and take a look at the market to know if there will be corrections, though I have been monitoring the market but I m not really convinced so I decided to share here to know whether I could get some people who  knows about the market to give a little breakdown before I go into such decisions.
I will really appreciate then i can know the reason for such action and decrease in most of the currencies especially BTC and BNB.

Thank you.

I will read all comments to see the reason.

I think that it is clear we are no longer in a bull market.

Is that necessarily a reason to sell off all your bags? No. You never know when prices rebound and if you can buy in at a lower price.

But I do think that it is smart to sell off low quality coins that just popped up over the 2021 bull market - these are likely overvalued and the most likely to collapse first.

[Rasa nanas]

yes currently the crypto market is in a bearish phase and no one knows when this condition will end.
regardless of the problems that occurred in ukraine the crypto market will still enter a bearish phase because in 2021 the crypto market entered a bullish phase and created a new history namely bitcoin and many altcoins reached ATH twice in one year. so I mean if 2021 is a bullish year most likely next year (2022) will enter a bearish, and the problems that occur in ukraine seem to be an emphasis if 2022 is the time for the crypto market to enter a bearish phase.

[lalabotax]

Are those altcoins still worth it holding and will still have the future although small chance? If there is still some, why should sell-off? You will lose your money, won't you?
I prefer to hold my altcoins because if I sell them right now, I will lose the money that I am investing in them. This is not a wise decision for me. ALthough I also feel stressed because the market is getting worse every day. But, as long as our altcoins may still have a chance to rise up, I will still keep holding.

[robelneo]

Hello mate
Do we currently calls the market situation the bear or what?
Today I just opened my storage where i buy and stored most of my crypto coins that you're holding and the rest I noticed have almost lost 60% of all my asset in dollars so I was tempted to sell off all and take a look at the market to know if there will be corrections, though I have been monitoring the market but I m not really convinced so I decided to share here to know whether I could get some people who  knows about the market to give a little breakdown before I go into such decisions.
I will really appreciate then i can know the reason for such action and decrease in most of the currencies especially BTC and BNB.

Thank you.

I will read all comments to see the reason.

60% down is not good but you need to evaluate coins and check what went wrong and if there's a chance for a rebound I also have coins right now and in the past that was downed 60% but eventually recovered after their platform and mainnet was launched, 60% down in the bear market is still acceptable as long as the developers are dedicated and the platform and mainnet are still in the developing stage, it's different if the platform and mainnet are already working but not getting support from the developers.
Many investors have a wait-and-see attitude they pour when they see the platform and mainnet are going to make a big difference in the community.

[Farma]

There are so many people in your league who have lost more than half of their portfolio due to recent market dump and the worst thing to happen with some of them is they have sold when the market was dumped and then bough again when it was reading (temporary pump) and again they end up losing the amount.

If you have invested in top altcoins then don't cashout when you are in loss as it will surely rise again and just incase if you are doing day trading then trade only with bitcoin and buy at dip, as it increases by 5 to 15 % after every dip and then try converting t to stable coins once you get profit and repeat it as you will be able to recover your loss with few successful trades.

well, if it was a popular altcoin it would be great to keep it on hold. however, it's different if it's an unknown altcoin, it could probably be a rug pull, or something. Well, currently there is a down trend that makes altcoin prices mostly go down. however, if it's a popular altcoin, I'm still not tempted to sell it, even more so if it's 60% down. however, instead of worrying about it, you should limit your losses, maybe every 10% drop, you sell your assets immediately. it's better than waiting up to 60% and being tempted to sell it.

[darefreads]

Hello mate
Do we currently calls the market situation the bear or what?
Today I just opened my storage where i buy and stored most of my crypto coin and the rest I noticed have almost lost 60% of all my asset in dollars so I was tempted to sell off all and take a look at the market to know if there will be corrections, though I have been monitoring the market but I m not really convinced so I decided to share here to know whether I could get some people who  knows about the market to give a little breakdown before I go into such decisions.
I will really appreciate then i can know the reason for such action and decrease in most of the currencies especially BTC and BNB.

Thank you.

I will read all comments to see the reason.

When you see that your portfolio is down, then why are you tempted to sell your coins? Would you be comfortable in selling you coins at a loss? I think NO.
If your invested coins are good ones, they will recover soon as the market recovers There is no need to be panic selling when the market is dumping.