I have been in crypto now for over 8 months and I have to say flash crashes are as common as coins shooting to the moon. If trading though when should you hold and when should you sell is something I am often asked. The answer to this question though really depends if you are day trading or holding for the long-term, because if holding for the long-term you should hold on until the markets recover. But if day trading its often a case of dumping Alt coins to catch the Bitcoin rise then buying up the altcoins in the dip. Not so easy to predict when it happens but more a case of very easy to see after the event.
So my best advice on this is very simple just pick coins you believe in. That simple factor will keep you in a positive position as like today I have seen one of my long-term investments dip 40% yet its no fault of its own but simply Bitcoin is on a run and as such influences many coins in a negative way.
Another thing is not to overstretch your finances such as today I have had money sat in ETH and BTC that I left while down but have simply moved through Coinbase back to the bank. Although not huge gains they are worth more than I paid for them and ultimately pays my bills until February which leaves any money in Crypto immune to me needing to sell for any reason. Instead analyzing coins and tokens I have invested in to see if some are beyond a recovery. Even Verge which has had a lot of positive and negative hype may see itself pop past 30c again once it gets itself back on track. As one of the key problems in the Crypto space is FUD which has more influence than it should do. At the same time it doesn’t take much for a market correction simply by delivering something that was promised. SAFEX is in a similar condition with this as it needs to deliver something positive in the next 3 months to re-establish trust in the project.
However you offset the negatives with a spread of coins and tokens investing in things like Stellar Lumens, Cardano, Tron and others that are showing signs of positive growth even if you are seeing none movement or even dips on some coins the profits on the others should balance things out. Which is why unless it is something seriously wrong with a coin or token I recommend just holding it until better days unless you are planning on day trading and flipping the funds onto other coins to recover it in a short period of time.
I see the window of opportunity in Crypto still being around for the next 3 years and I also see the growth in the markets will see more companies trying to buy some of the best ventures before they even hit ICO status. The reason being is Crypto is becoming a real threat to traditional businesses and enterprises, they are taking note, they are listening, they are watching, they are seeing the risk of companies with less regulations and more flexibility to develop coming into their marketplaces and like the next Facebook it ca come from nowhere to being a giant in no time. We are in the right space and our fingers are on the pulse. The market is growing in every direction and very few coins I would say are “worthless” and simply doing your homework and research you can avoid these without too much trouble. Other coins and tokens have yet to peak as we have seen with Litecoin going from $42 recently to now sitting at over $200 and an expectation of it hitting $300 in the very near future. NEO has hit its $100 today as well which is another crypto I will expect to be around $300 to $800 in the next 10 months. Even if not agreeing with my coin picks I am sure you are already selecting your own coins with similar growth and this is my point. The whole market is growing and with it the opportunity to become rich and prosper alongside innovation and the next generations of businesses.