Will the cryptocurrency market drop significantly in January 2025? Should we liquidate our holdings and enjoy the New Year?
Yesterday, the cryptocurrency market followed the stock market's trajectory, starting with a plunge where Bitcoin dropped by 5 points, while altcoins generally hovered around 10 points. Is this yet another familiar script?
If the altcoins you purchased are in the same situation, to be honest, you really need to look for opportunities to exit because these coins have already gone crazy. If you still hope to make significant profits from these coins, it will be very difficult. Bitcoin has always been an independent presence and, without a doubt, it has remained relatively strong.
Although it has dropped, the extent is not large, and the increases come quickly. Therefore, what coins you hold is crucial. I have always emphasized that if you choose altcoins, you must select those that have value and a relatively clear potential for appreciation.
This way, you can hold on and endure the trials of ups and downs. Otherwise, market fluctuations will make you feel incredibly uncomfortable. Once you rashly cut your losses,
you might miss the most critical wave of upward momentum. Of course, choosing good coins is a prerequisite. If you don't have that ability, you should not be greedy. If your expectation is to double your investment, when the time comes to double, you should exit. Don't fantasize about 5x or 10x returns; such thoughts will only lead you to lose both your principal and profits, which is a common mistake for beginners.