I made a stupid mistake last week. I changed my trading strategy so I largely had 90% altcoins in my portfolio. So when the cryptomarket corrected itself, I was spooked by a loss in volume by 30%. Had I waited a few more days, it would have been fine. Instead I sold off half my altcoins to prepare for a bear market.
Last time the market corrected itself, I had half my portfolio in Bitcoin and Ethereum. This meant I could quickly sell them and buy them back at a cheaper price. During the last bear market I was able to increase my volume by 50%, instead of losing volume.
By hedging our bets, we would have only lost around 12% in volume instead of 30% and had the opportunity to make big gains.
Lesson learned.
1)-Do not hold more than ten different cryptocurencies.
2)-Keep half of portfolio in gold and silver, Bitcoin and Ethereum.
3)-Dont panic.
4)-In hodl we trust.