Help with saving my fund. DOT.

[a298b112]

I have some DOT, and it is down ~80% today from total allocation.
I think I could sell it and buy something else.
What would be that? LINK? SOL? BTC? ETH? Whatever.
So the idea is, to save remaining fund which is down 80% and hopefully some gains. At least if I will safe the fund that is enough.
Or just wait till DOT will be up again?
What do you think?

I know I am asking for financial advice, anyway, what would you do to in this situation?

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[Mia Chloe]

Alot of persons who loss in the crypto space loss usually to shitcoins.this is due to the fact that they fail to understand that shit coins are a pump dump scheme which is supposed to be used for trading or small transactions if the mempool is conjested when necessary and not hodling.
Just like this suggestion by philipma1957

Use LTC and Doge for small numbers.

Use BTC for big numbers.

All problems will be greatly reduced.

in this post
So Firstly what I would do is not hodl shit coins
Secondly op from your explanation you made a great loss which would have been avoided if you hodl Bitcoin.
My conclusion is stop hodling shit coins but instead hodl Bitcoin.

[Dunamisx]

I have some DOT, and it is down ~80% today from total allocation.
I think I could sell it and buy something else.
What would be that? LINK? SOL? BTC? ETH? Whatever.

You can exchange for bitcoin first, then maybe when you later have some more funds you can invest on other coins you mentioned as an addition, but I don't think polkadot is upto 80% as of today, but you can consider that if you put into consideration right from it all time high, but we can't still tell, if you can hold and wait till after next year bullrun.

So the idea is, to save remaining fund which is down 80% and hopefully some gains. At least if I will safe the fund that is enough.
Or just wait till DOT will be up again?

If you can wait until it's up again, then try to be patient for that time to come, it's such a coin that has future plan for every of its Investors.

[tvplus006]

I have some DOT, and it is down ~80% today from total allocation...

There was no such reduction in the price of the Dot that you are writing about today. Moreover, starting from October, the price of the Dot coin increases every day. So your concerns are unfounded and you just need to focus on the hold. Or do you consider the decrease in the price of the coin from high, which occurred in 2021? If this is the case, then you decided too late to take measures to save your deposit.

[KingsDen]

So Firstly what I would do is not hodl shit coins
Secondly op from your explanation you made a great loss which would have been avoided if you hodl Bitcoin.
My conclusion is stop hodling shit coins but instead hodl Bitcoin.

This advice can be considered as a lesson that OP has learnt already. With respect to the question in OP, what actually do you advise the Op should do about his portfolio in -80%?

I have some DOT, and it is down ~80% today from total allocation...

There was no such reduction in the price of the Dot that you are writing about today. Moreover, starting from October, the price of the Dot coin increases every day. So your concerns are unfounded and you just need to focus on the hold. Or do you consider the decrease in the price of the coin from high, which occurred in 2021? If this is the case, then you decided too late to take measures to save your deposit.

That is the only thing I can advice. Hold and wait till bull run, the coin could recover upto 50% and you can sell. I made a similar mistake with Shiba in 2021 and I am still at lose upto -70%

[dansus021]

If I were you and the coin was already down 80% then the best option for now is just to wait till the price returns to normal again and do staking. It would better if you stake at the beginning but I think stake is just best option for now rather than cutloss position that already down 80%. If you still have money tho is high risk I would take the DCA since polkadot is in the top 100 by marketcap.

[peter0425]

I have some DOT, and it is down ~80% today from total allocation.
I think I could sell it and buy something else.
What would be that? LINK? SOL? BTC? ETH? Whatever.
So the idea is, to save remaining fund which is down 80% and hopefully some gains. At least if I will safe the fund that is enough.
Or just wait till DOT will be up again?
What do you think?

I know I am asking for financial advice, anyway, what would you do to in this situation?

We could tell you this and that but the thing is are you willing to allow people tell you what to  buy and invest? or you are just wanting to have a share of thoughts that in the end you will be the one buying .
invest in Ethereum or Bitcoin , maybe you cannot earn that much again  but at least you may recover 50% of your losses or even more.
this is not financial advise but I hate risking in shitty project and meme coins for that matter.

[a298b112]

I have some DOT, and it is down ~80% today from total allocation.
I think I could sell it and buy something else.
What would be that? LINK? SOL? BTC? ETH? Whatever.
So the idea is, to save remaining fund which is down 80% and hopefully some gains. At least if I will safe the fund that is enough.
Or just wait till DOT will be up again?
What do you think?

I know I am asking for financial advice, anyway, what would you do to in this situation?

We could tell you this and that but the thing is are you willing to allow people tell you what to  buy and invest? or you are just wanting to have a share of thoughts that in the end you will be the one buying .
invest in Ethereum or Bitcoin , maybe you cannot earn that much again  but at least you may recover 50% of your losses or even more.
this is not financial advise but I hate risking in shitty project and meme coins for that matter.

Of course at the end of the day it is my responsibility and I understand that. I will decide what to do. However, I would also like to know what are some strategies if there are any that other people might be taking. I am new to the crypto and markets so, there are plenty of thing I don't know. So would be good to see what would other people do in this situation. Anyway, thanks.

[a298b112]

If I were you and the coin was already down 80% then the best option for now is just to wait till the price returns to normal again and do staking. It would better if you stake at the beginning but I think stake is just best option for now rather than cutloss position that already down 80%. If you still have money tho is high risk I would take the DCA since polkadot is in the top 100 by marketcap.

yeah, this is not my last funds and I am ok, I can go on with this lost. It is just, if there is a way, then why not to try to save at least some portion of that money. That is the goal here. Regarding the DCA, I thought about it. I guess I will not put any more funds into DOT.

So basically, it seems there are three options:
1. HODL.
2. Swap to something else. BTC and ETH probably best candidates.
3. Take loss. (least preferred option)

[batang_bitcoin]

I have some DOT, and it is down ~80% today from total allocation.
I think I could sell it and buy something else.
What would be that? LINK? SOL? BTC? ETH? Whatever.
So the idea is, to save remaining fund which is down 80% and hopefully some gains. At least if I will safe the fund that is enough.
Or just wait till DOT will be up again?
What do you think?

I know I am asking for financial advice, anyway, what would you do to in this situation?

I think that DOT is still gonna have some come back and pump in the altcoins bull. If I am in that percentage of loss, I won't do anything and will keep it as is because for me, that's already too late to cut loss or even allocate it on other altcoins. And if I want to buy some other cryptos, then I'd use another fund for it. But if you insist and you want to, the best bet is don't go with meme coins or any random altcoins.
Trust the established ones and so DOT is and it's just all about the market of it and the recovery that you're going to wait patiently.

[Dr.Bitcoin_Strange]

Selling now that the price is down by -80%, that's going to give you a big loss already, and if you end up buying another altcoin, you never know how the price can turn out, so it's better to just accumulate some bitcoin instead of taking the risk with another altcoin. If you also have some money to still invest in Bitcoin while you also keep holding your DOT, then it's still good because if by chance the DOT pumps during the main bull market, then you might also regret why you sold the token so early. Just make a better decision so that you will not end up blaming yourself.

[kotajikikox]

If I were you and the coin was already down 80% then the best option for now is just to wait till the price returns to normal again and do staking. It would better if you stake at the beginning but I think stake is just best option for now rather than cutloss position that already down 80%. If you still have money tho is high risk I would take the DCA since polkadot is in the top 100 by marketcap.

yeah, this is not my last funds and I am ok, I can go on with this lost. It is just, if there is a way, then why not to try to save at least some portion of that money. That is the goal here. Regarding the DCA, I thought about it. I guess I will not put any more funds into DOT.

So basically, it seems there are three options:
1. HODL.
2. Swap to something else. BTC and ETH probably best candidates.
3. Take loss. (least preferred option)

From your options , I think the second one may fits you , since you have said that you can go on with this lost and it is not your last funds meaning you can gamble more for this.
so yeah that is the safest to convert that amount to Bitcoin or Ethereum and wait for the Bullrun to come , let your faith be with the strongest coins than another shitcoins to have another burden sooner.

[dansus021]

yeah, this is not my last funds and I am ok, I can go on with this lost. It is just, if there is a way, then why not to try to save at least some portion of that money. That is the goal here. Regarding the DCA, I thought about it. I guess I will not put any more funds into DOT.

So basically, it seems there are three options:
1. HODL.
2. Swap to something else. BTC and ETH probably best candidates.
3. Take loss. (least preferred option)

Then pick number 1 the HODL and just wait for it since 80% is really big bro, and you said that you still more funds, then use the remaining funds to buy the btc and eth that is probably the best idea for now.

[Wahyuihib]

investment is a choice mate.  and an incorrect choice will affect the funds you have.  Therefore, before your funds run out, please exchange them back with BTC or Eth to be able to recover the funds you have.