It all depends on the overall market situation and on what altcoin you bought. After all, there are altcoins that can not be held at all, but which need to be sold as soon as they have increased in price. I bought it and wait. What is the cause of panic. Anyone who knows how not to succumb to provocations - with the ability to wait - will get what he wants.
I think that the situation does not depend on the market, but the market depends on the situation. To date, not only the demand for Bitcoin or the etherium can give impetus to the market, but also certain information manipulations, which so far had a very strong impact on the crypto currency market.