There is no standard answer to this question, but you can clarify your thinking with a few questions:
- Why did you buy it in the first place? Is the logic still valid, or were you just following the hype and buying high?
- Did you set a stop-loss in advance? A disciplined approach means executing the stop-loss as planned, rather than hesitating only after the price drops. See how to set a stop-loss.
- Are you using money you can afford to lose? If it's money you can't afford to lose, anxiety will force you to make decisions at the worst possible time.
Emotional chasing of highs and panic selling often leads to losses on both sides. A more stable approach is to set your position size and stop-loss plan in advance, then execute mechanically. For understanding major cycles, see bull and bear markets.
The above content is for educational reference only and does not constitute investment advice.