Hi I recently traded some bit coin for an altcoin that has a buy in of the lowest amount .00000001 and there are no buy orders only sell orders up, The volume has spiked 17-24 and now down to 13 is this a bad thing? they have a web site and seem legit. is there any hope for this alt coin should i try to sell everything to get my initial trade back?
What is this altcoin you are talking? That's the case for those low valued altcoins, they seem to be cheap but don't just purchase if they don't have buy orders. Sellers are just tuning in if there will be someone interested to buy that coin. There are two things that you need to think before selling it.
1. Believe - if you have this before purchasing that coin, then you'll stick to your plan by just holding it.
2. Recover - if you don't have faith anymore on it and you are like that who's worrying that much, take back your capital before something worst happens.
At the value of 1 satoshi, it cannot go lower.
You have to ask yourself why you got into the token in the first place?
We as it price driven or did the coin itself offer something you liked?
You will learn that sometimes, actually a lot of the time you have to be patient.
And sometimes you have to make a decision to abandon your token for something else.Yes they can't go lower than 1 sat but just like what I've said, the problem is when people are aware of that coin is just useless no buy orders will come so your money came in to the market cap but you have to wait until someone starts to have his own interest with it. The bolded part is true, there are times that even how fanatic and how strong we are believing to that coin but it's not that moving, we have to let go and move on to another more profitable coin.