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RE: Cryptocurrency Bleeds Heavily - What's Your Thoughts and Plan?
Going short would have been better at the peak time. Now, i'm just holding still and not doing much til I see some kind of stable bottom. LOL, i keep thinking its coming soon, but who knows. My next guess should be a turn around the time period of early September we should start seeing slow upward trends.
A good rule of thumb is to not guess what's going to happen and just go with the trend. You could have theoretically gone short at the peak if you could have predicted it with a crystal ball, but then you would have sold right at the peak as well. It's also a good rule of thumb to not take a loss as well. I would say if you have new money to put into crypto, use it to go short through poloniex and go long when the trend changes. You can profit on both ends.