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RE: BITCOIN KEEPS REACHING NEW LEVELS OF LOW | WAKING UP TO ALL RED
You could perhaps sell some, maybe 10% of your holding. I got burned by silver stocks falling after 2011. I held on all the way down until I lost 99% of my money on some small silver miners. If I'd sold at a 50% loss (when I thought it was too late) I would still have been sitting on nice profits. Even if you sell some, you are still diversifying out.
However, you have to make your own decision based on your analysis, I'm not a crypto investor, I prefer gold.
yeah thats a good advice and I know what you mean, part of me thinks shall i sell at least a bit, but then if i want to buy more shall i even bother? i dont want it to be like sitting and holding onto the last hope if it keeps burning down and going down!! i hope its going to recover thou!
I suppose it depends on whether you need the money or not. If you can afford to lose it then maybe hang on. I've been saying for months that people should diversify some crypto profits into gold, it's not a certainty but compared to every other market it's looking undervalued. Keep an eye on my posts, about half of them are on precious metal analysis.
yeah i will check you out now! thanks! i know i wanted to sell when it was at all time high, but missed an opportunity, now i am diversified but not in gold or anything!
I like Gold @unclehermit ........... it is a pity that its price is isolated by the banks.
@unclehermit I personally believe that people should diversify their portfolio. They should not go all in on anything. I also believe that people should not invest in things that they don't know anything about. The main reasons for this crash is the later. Many who entered this market were new comers. Sadly many lost their money while the old investors held on to it.
The crypto crash is a healthy response to blind speculation, following the crash what should emerge are the blockchain applications that offer the most utility. Things like asset backed crypto's, smart contract applications and those that will power the internet of things. I'm personally sceptical of pure cryptocurrencies such as bitcoin, litecoin, monero, etc. Governments will work to ban them and better technology will replace them.