When bitcoin price is going in a downward trend what's the best way to weather the storm?
get out while you still can?
Buy alt coins?
or just wait it out?
I choose to wait it out, but there is no right or wrong answer. Im always confident that Bitcoin will recover, but if you think you can time the market, there is nothing wrong with selling to buy back lower or trading to buy cheap altcoins.
One thing that makes me do less trading and more holding is the new tax law in the US where we will be taxed on every trade even between cryptocurrencies.
Yes. Much better to wait it out. The market is very bearish and its really hard to predict when the price is going to increase. So its much better not to do anything, unless you needed the funds then you don't have any options but to sell.
We are unlucky that the market started this way in 2018, but based on last year, we have also seen this kind of price movement, but at the end of the year bitcoin pushes to almost 20K. Patience is the key here and do not panic.