Why do Altcoins bleed?. . . what brings alts down across multiple exchanges. Heres whatย you maybe thinking if the marketย decidesย to go RED!
As a trader or investor, your either looking at it one of two ways: 1) your bricking it because the altcoins you have in your portfolio are down or 2) your looking at this as an opportunity to add some new / more coins to your bag.
So do you get baggin and continue to hodl, or sell out of your position at a loss > #rekt.ย Knowing when to cut your bag or HODL and continue the risk of getting further #rektโdย is sometimes a decision best answered in hindsight.
Heres 3 reasons why there maybe blood in the water?
1) Your coins are about to be delisted from its main exchange due to lack of volume being traded. The Bittrex Exchange recently culled a small pile of coins from its listed coins. These coins had little to no trading volume on a daily basis are were hence cut.
2) Market sentiment might be turning back to favouring bitcoin instead of altcoins. New, News or use-cases are always being developed for bitcoin and attention is likely be more favourable towards it. As result your coin value, and long with its volume mayย dry-upย in the short-term.
3) One major-arse hack on a particular altcoin through the coins related platform or major exchange โ such as, in the case of Bitifnex and the 120,000 BTC sell-off that followed, the DAO and StartJOIN / StartCOIN hacks. As weโve found out, anyone with coins during these hacks, were somewhat left in shells.
Pay attention to the bags you HODL โ there are multipleย aspectsย of the market that can be detrimental to any altcoin - a bit likeย goingย toย theย casino. Stayย knowledgeableย andย try to avoid getting #rekt
PACMEDIA
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Disclaimer
The writer invests in FINTECH & ALTCOINS at their own risk. Trading and Investing can be highly risky and you should seek the advice of a trained professional. PRICEACTION OF CRYPS, accepts no liability for losses that may be incurred as a result of anything written in its Analysis Report and anything written on this website.ย