Quote from: wheelz1200 on Today at 09:20:29 PM

Quote from: akirasendo17 on July 16, 2021, 01:59:21 PM

Why do people lose money in crypto? the number one reason is panic, they tend to be controlled by emotion, for newbies never ever just bought something you really know nothing about, that's one of the rule, research is needed, your money is important so don't waste it with wrong decisions, if you decided to what coin to buy, don't sell with small movement crypto is volatile, make some target for losses and earning.

Bagholding alts in a bear market is a terrible idea. Better to just park it in btc or back into fiat until the drops stop for a long time. Especially with alts bag holding in the past has led to coins just disappearing on the charts and leaving you with some useless coins and another wallet to delete.

But you also have to consider taxes. It is possible that you trigger taxation when you switch from an alt coin back to Bitcoin and then back again. It's not a simple decision depending on the circumstances. I think there are a few alt coins that are also safe to hold during a Bitcoin crash, but really not many. ICO tokens and so on almost never recover after a crash.