The market price as of now is very unstable. The price of the altcoins keeps going down. May I ask an advice, is it okay to dump all my altcoins and exchange it in tether to prevent my profit from going down? Is it the right thing to do?
Yes it is considering if tether will give you stable value for your investment and it could not be affected by the market bearish trend. it may better for you as long as you are converting it when you are not getting any losses.
It's the right thing and you can try to buy back again later if the crypto will have reached another dip soon or later. It's better rather than short.