Many people hold cryptocurrencies whose price has dropped drastically, hoping that one day they will rise again. But the question must be asked: does it really make sense?
Let's say you bought cryptocurrency for $100. Its value has dropped to $50. In practice, you now only have $50, not $100. You've lost half. By holding this cryptocurrency, you run the risk of never getting your money back, because it may never return to its previous price.
What can you do then?
Instead of "sitting on the loss" and waiting indefinitely, you can transfer those $50 to another cryptocurrency that you believe has greater growth potential. This way, you give yourself a chance to recoup your losses, perhaps more quickly and effectively.
Of course, this also involves risks. But sometimes it's better to take action and look for a new opportunity than to hold something that is losing value just because "you've already invested so much in it."
It shouldn't be emotions that decide, but cold calculations.
What currency did this happen to you with? 👇
