I have DOT in my portfolio and it is down 79% as of today. The amount I've put there is quite big for me. The average buy price per DOT is 25.80USD. The price of DOT today is 5.38.
So the question is what are my options to rescue the money I've put into it? Is there anything I can do or I just wait?
After investing into an altcoin; the chances/options are limited for you when the markets get bearish.
First you need to go back to the drawing board and figure out what the future holds for the dot token;
- will the token price bounce back?
- will the token survive long term?
- is the token devs ticking the right boxes to improve the product value?
Getting answers to these questions put you in the right path
Is there anything I can do?
You can do one or two of the options below.
- Wait
- Practice DCA; since you are 79% down, an investment means you can buy cheaply and increase your holding, when the prices goes back to basic price; you will be 80% up. Please do this if you get credible answers from option above.
- Accept defeat and cut loss by selling the token at 79% loss.
Please review the research options and make a good decision.