According to Miles Deutscher, when holding a cryptocurrency that has dropped by 70% and no longer seems promising, traders have three main strategies. First, they can consolidate into assets they have more confidence in. Second, they might choose to swap the declining coin for stablecoins during price bounces. This approach allows them to potentially reinvest when the market is more favorable. Deutscher emphasizes the importance of making informed decisions based on one's financial goals and the overall market conditions [source: Miles Deutscher, Twitter].