Replying to Avatar Noerms

Need advice: 🙏

I own some altcoins that are down 30 to 50%. 💩

The more i dig into crypto, the more i come to the conclusion that only Bitcoin is the real deal. 🧡

I always planned to buy more btc with the altcoin gains but then came bear market 😅

I ask myself now: ❓

Should i sell with a loss and convert to btc now or should i wait until back in positive? 🤔

Maybe someone has experienced a similar situation?
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Magic_Internet_User 2y ago

That’s a difficult situation and your decision is 100% up to you. No financial advice!

First thing you can do is to go to Coinmarketcap and look at the Altcoin charts compared to BTC. That way you will know when there’s a good time to swap your coins to BTC. If you want to swap all your coins to BTC: Forget about their price in Fiat. If BTC goes up more than your Altcoins, you will get less Bitcoin for your Altcoins.

Chances are that the price in BTC will go further down, so you might want to swap right away.

The decision is up to you

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Noerms 2y ago

Thats great advice, thank you 🙏💜

And followed btw 🤙

So you mean if btc drops again, altcoins may go even lower and i would get more btc for my alts now?

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Magic_Internet_User 2y ago

To be honest: I don’t know. I don’t even know what you are holding. Altcoins are gambling to me. You might hold something that will drastically increase in value…

Bit in the long run, Bitcoin outperforms any aaset.