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RE: What to Do as Bitcoin Falls and Returns to Crypto Throne
What advice would you give to someone with a substantial position in 2 or 3 alts and who doesn't believe in the longterm success of those alts?
Conversely, what advice would you give someone with NO position in 2 or 3 alts that they DO believe in the longterm success of?
By longterm success I mean to increase in value either by price per unit on an exchange, or as a general asset.
edit: words
I don't want to go into too much detail, but if I didn't believe in them then I'd just compare their returns against the entire alt market. If it's more substantial losses, I'd probably take a risk and wait for a slight alt rebound (like the one we're currently having) to sell into. If not, I'd probably just cut loose and go into Bitcoin until that position size is satisfactory (you should keep at least some alts in the event that this is the end of the Bitcoin cycle).
If you don't have any alts and there are ones you believe in, this is a good time to start scaling positions. I don't think I'd buy a full position right off the bat personally, since we don't know how far Bitcoin dominance will go, but that's just me.