Is this far enough for alts?

We have all experienced how harsh the market can be. Many of us began our crypto journey in 2021, where we witnessed one of the largest rallies, shortly followed by one of the most brutal dumps in 2022. Every time the market took another turn for the worse, people seemed to be in disbelief, seeing the coins they were accustomed to at high prices now being so low. Even though prices were down so far, they still continued going down.

We now find ourselves at another sort of crossroads, especially for altcoins. According to the monthly and yearly charts, the majority of popular altcoins are at or near their lowest levels of support made during the 2022 dump. If prices continue to drop without any sort of bounce, we could be set to face new lows soon. Even though there is some bullish crypto news in the market, such as potential ETFs on the horizon, it seems as though there has not been a single sustained green candle since XRP was ruled to not be a security several months ago.

I'm wondering if there is a good case to be made for selling now, and then waiting for some positivity to return to the market to get back into altcoins. Of course it would be selling for a loss, but preserving capital for a better play could turn out better than waiting for an investment to be down over 90%. Let's be honest, diamond hands and HODL has not worked at all for altcoins since 2021. In fact, if we are basing future possibilities on past cycles, there is still plenty of room to fall further down.

I know it's probably not going to be a popular opinion to talk about selling when others are fearful, and not holding strong, etc. But we've all witnessed how coins can keep on just going down and down and not have any sort of recovery for a very long time. Maybe it's time for an altcoin reckoning...

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