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Forum » Cryptocels, should I cash out and just eat the loss?
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Thread: Cryptocels, should I cash out and just eat the loss?

post 1683090383 05-20-2023, 09:32 PM
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Cryptocels, should I cash out and just eat the loss?

I invested about $27K during covid and it was going well at first until it started tanking. I'm down to $4K so I'm down -$23K.

I'm thinking of just salvaging the remaining $4K
post 1683090453 05-20-2023, 09:33 PM
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Crypto expert here. Yeah, just eat the loss

source: trust me bro
post 1683090463 05-20-2023, 09:33 PM
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post 1683090473 05-20-2023, 09:33 PM
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It was going well until it wasn't.

Waiting for Somi to offer advice.
Nocrew crew

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post 1683090543 05-20-2023, 09:35 PM
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post 1683090613 05-20-2023, 09:37 PM
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Originally Posted By Silencespeaks⏩
Actually talk to your accountant to see if you can harvest the loss for tax purposes but I think there’s a waiting period then until you can buy back in. Not sure how the tax loss part works exactly.
Good point, I'll look into that for this year's tax
post 1683090643 05-20-2023, 09:37 PM
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diamond hands baby


to the ****ing moon we will - go just hodl. (ded fkn Srs)
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post 1683090683 05-20-2023, 09:38 PM
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Its too soon to cash out, wait two years, I guarantee it'll explode, be patient
post 1683090933 05-20-2023, 09:45 PM
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After losing that much i would mentally write off all of it and leave the 4k and hope someday it bounces back to a higher amount and cash out then instead.

Unless of course I really needed the 4k.
post 1683091073 05-20-2023, 09:48 PM
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Originally Posted By IPoopStandingUp⏩
After losing that much i would mentally write off all of it and leave the 4k and hope someday it bounces back to a higher amount and cash out then instead.

Unless of course I really needed the 4k.
I don't need the 4K but it would be a welcome addition to my savings rather than 0
post 1683091133 05-20-2023, 09:49 PM
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HODL... am also under on my Crypto
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post 1683091273 05-20-2023, 09:53 PM
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Nah, just buy more of the same crypto to bring your average price down. You can probably cut down your average price by half at least. What are you holding and how much?
post 1683091343 05-20-2023, 09:54 PM
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Buy high sell low boyo. Its the misc way
post 1683091533 05-20-2023, 09:59 PM
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Originally Posted By AlfBundy⏩
Nah, just buy more of the same crypto to bring your average price down. You can probably cut down your average price by half at least. What are you holding and how much?
Majority has been in Algorand. I got sucked in for the nice staking rewards and I didn't think it would go below $2. Rest in DOT, ONE, FTM, ATOM, and these types of better reputation alt coins.

What do you think?
post 1683091593 05-20-2023, 10:00 PM
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Originally Posted By CanuckGame⏩
Buy high sell low boyo. Its the misc way
Based
post 1683091653 05-20-2023, 10:01 PM
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Originally Posted By AlfBundy⏩
Nah, just buy more of the same crypto to bring your average price down. You can probably cut down your average price by half at least. What are you holding and how much?
I don't have anything invested in crypto.

Should I also make the same trades that you're advising this guy to make? If I want to make money.
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post 1683091783 05-20-2023, 10:05 PM
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Originally Posted By sf813⏩
Majority has been in Algorand. I got sucked in for the nice staking rewards and I didn't think it would go below $2. Rest in DOT, ONE, FTM, ATOM, and these types of better reputation alt coins.

What do you think?
Those all sound legit. ONE got hacked so they took a bigger hit than most but I think they're trying pretty hard to regain trust. I had 450k ONE tokens back when they were around 10 cents and I sold it all weeks before it skyrocketed to 20-30 cents -- it made me SICK

Just keep buying at current prices and get your average price down as low as possible and you'll get all your money back sooner than you think
post 1683091793 05-20-2023, 10:05 PM
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Originally Posted By sf813⏩
Majority has been in Algorand. I got sucked in for the nice staking rewards and I didn't think it would go below $2. Rest in DOT, ONE, FTM, ATOM, and these types of better reputation alt coins.

What do you think?
You're an idiot for throwing that much money in ****coins, SMH

I thought you'd have BTC, BTC and ETH are the only coins I'd recommend buying for long term, everything else is a gamble.
post 1683091933 05-20-2023, 10:09 PM
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Originally Posted By BraddlesMcGee⏩
I don't have anything invested in crypto.

Should I also make the same trades that you're advising this guy to make? If I want to make money.
Pretty much all cryptos right now are sitting at 5-10% of their all time highs so you can probably invest in anything and get a 10x return if you're patient
post 1683091963 05-20-2023, 10:10 PM
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So you want to buy high and sell low?

Nah man wait until the next bull run. Should be about 2 years away if the 4 year cycle continues
post 1683092403 05-20-2023, 10:19 PM
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if you invested during covid why didn't you cash out when it was up 99%?
post 1683092453 05-20-2023, 10:20 PM
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Originally Posted By AlfBundy⏩
Pretty much all cryptos right now are sitting at 5-10% of their all time highs so you can probably invest in anything and get a 10x return if you're patient
I just had a quick look.

BTC 27174, 65000, down 58 % from high

ETH 1816, 4635, down 61 % from high


How do you figure 5-10% of all time highs?
Nocrew crew

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post 1683093963 05-20-2023, 11:07 PM
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post 1683094153 05-20-2023, 11:10 PM
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You realize that people are going to sell Crypto when the markets tank in the next couple months? If someone is broke, they’re going to sell Crypto to pay basic expenses.
post 1683094823 05-20-2023, 11:36 PM
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'Crypto' is a scam, trying to pick the next number on the roulette wheel.

Bitcoin is a once in human history opportunity.

Sell your 'crypto' and start saving some of your wealth in Bitcoin.

It isn't hard.



I wonder what happens next...?
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post 1683094933 05-20-2023, 11:40 PM
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OP here

I'm thinking about selling the alts coins at the loss and putting all into BTC. Is this a good idea?
post 1683095533 05-20-2023, 11:58 PM
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Buying high and selling low is a terrible business idea. COVID wasn't that long ago... Hold long term, good chance you come out ahead
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