#AltcoinBlood Why do Altcoins bleed?
Why do Altcoins bleed?. . . what takes alts down across multiple exchanges. Heres what you maybe thinking if the market decides 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 too 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. Knowing when to cut your bag or HODL and continue the risk of getting further #rekt’d is sometimes a decision best answered in hindsight.
3 reasons why there’s 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-case are always being developed for bitcoin and attention is likely be more favourable it. As result you coin value, and long with its volume may dry in the short-term.
3) One major-arse hack on the coin through an exchange or platform the coin is related to — such as in the case of Bitifnex and the 120,000 BTC sell-off that followed, same for the DAO and StartJOIN / StartCOIN hacks. As we’ve found out, anyone with coins during these hacks, were somewhat left in pieces.
Pay attention to the Bags you HODL — continue to study their dev team and marketable content being created by its leadership team, and try to avoid getting #rekt
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.
Originally published at www.priceactionofcryps.com.