Hello All,
I was hoping to get some advice as I am brand new to crypto and trading. So if I have bought an Altcoin or bitcoin at a higher price than it is now should I sell and buy the dip or does crypto not work like that? I am trying to find the best way to start making small profits.
Any help is appreciated.
Based on how you currently described your situation my guess is what you are trying to say is if averaging down with cryptocurrency is possible? If that is what you are asking the question is it depends on you. Are you willing to take a paper loss and still continue to buy the same asset for a better margin of safety? If you are you can average down right now and hold Bitcoin at a loss temporarily. Keep in mind that this is really not a common method since people tend to the what is best which is shorting the crypto asset which aside from giving you some profit you will also buy them at a cheaper price with a bigger capital from your gain. If you have the ability to short crypto assets right now I would recommend you on doing that.