Cryptocurrency is going down now....what to do...
You should wait. Honestly, what I’d recommend right now is converting your crypto back to dollars or at least USDT to retain value, and then sit on it until the market improves. Don’t trade on the open market, don’t buy more. Just wait.
South Korea is talking about a crypto ban. China is serious about it. Right now this has put the market down 40%, with more losses likely on the way.
While you’re waiting, make sure you do good research into all the coins and market predictions for 2018. Later, when the market picks up you can come back in and trade to make up for any losses. I trade on Binance, it’s good exchange.
Sorry, but that’s my honest view right now: if you hold you’re losing money, if you trade you’re up against serious volatility, downward trends & quick reversals that are likely to cost you even more.
I don’t have a crystal ball, but I am actively trading, and right now crypto simply isn’t a good bet. Why not wait at least a couple of weeks, maybe a month, and then come back to it with a fresh perspective?
My standard disclaimer: cryptocurrencies are highly volatile. Never invest more than you can afford to lose. This post contains personal opinions only, and not financial advice. I take no responsibility for any financial decisions that you make.
If you sell now and wait until the market goes up to buy back in you will have lost a portion of your position. Just hodl.