Selling at a loss isnt always a bad thing

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by COINS NEWS 15 Views

I won't name any coins, to avoid the downvote armies, but i have 3 coins that have consistently been losing MC rank over the last few months. I'm planning on consolidating these bags into btc/eth this week. Meaning i'll sell the bags and take a big L.

Losing mc ranks is usually a bad sign. Going from top 20 to outside of top 50, means more people get rid of these bags than other projects. This means that in a bull market, it will likely get significantly less gains than other coins.

It's generally accepted that healthy projects will have their coin prices fall (percentage-wise) more during bears and pump more during bull-markets, compared to BTC. However, this takes into account ALL alts. Not every alt will always do this. This is why you'll see copious amounts of alts never reaching their previous ATH's again. New alts will stand up to take their place and be speculated on.

The bags i have now, the 3 coins i want to get rid of, might break-even (as i didnt buy at ATH) again during the next bull-run. But if i change it to BTC or ETH now, which can 5x from here with relative ease during a next bull market, i'd have both a safer coin to hold AND more chances at regaining my losses.

So in short: if a project is dropping, comparatively to others, if the development and hype seem to have dried up and it seems like it won't recover, there's no shame in consolidating.

Diamond hands are good for BTC and (imo) ETH. But for alt-coins, it can be a toxic meme. If you're not careful, your diamond hands will only be used to hold a bag of coins that'll never regain their value.

submitted by /u/Dry-Category-3410
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