"It’s Not How Early You Get in, It’s How Long You Can Hold"
There is this saying in crypto according to which every dumb investor can make money during the bull market, when everything goes up, there's no such thing as overbought, and fundamentals no longer make any sense...
The guy from the screenshot above is a meme already, he has even minted his own tweet(the one in the screenshot) as an NFT, and the tweet dates from 2011. His pain back then was that he didn't hold to his stack of BTC bought at $0.06 until the peak of $8 that BTC reached for that bull market and instead sold at $0.3.
How many of you have found yourself in such a situation? I sure know, I got into such shit a couple of times during my five years of experience as a crypto investor. It's painful to watch certain coins mooning at levels you could not even imagine shortly after you dumped them.
That happened to me with RUNE, XRP, and XLM. The worst experience of this kind I've had with DOGE, though. I sold it two years before the actual bull run, cuz I got influenced by shitty influencers and missed a few hundred thousand grands in potential profits. I'm such a loser.
The guy in the screenshot from above is still in crypto, he is relatively active on Twitter and he clearly still owns Bitcoin and altcoins. He made a huge mistake by selling too early during that bull market, but his resilience didn't kick him out of the market completely. The same happened to me, otherwise, I wouldn't still be active on Hive anymore.
So, what do you do to maximize your investment in crypto? As the title says, you HODL. While traders seem to be making a lot of money chopping through waves, the true gainers are the HODLers. Individuals that have nerves of steal, a clear vision, and clear targets.
Let me give you an example of how I'd see even a failed bull market turning into something positive. Let's say for example that "you missed the top" and your coin(let's say ETH), after rallying from something like $20 up to $1,400 on the course of a couple of years, is now sitting at $800.
You don't know what to do cuz you're not sure whether it is in a bear market or not... It might go lower but it could also bounce from there North of $1,400.
"It decides" to dip even lower, and you find yourself holding a coin that you could have sold for $1,400, or even $800(good ROI at this level as well), you didn't though and it is now worth just $300. What do you do? You still have 15X on your investment in your hand, but do you have any guarantee that $300 is not actually the bottom and you could risk selling it? You don't... and that's when the pain comes.
If you sell, and that coin dips even further you have the chance to pick even more of these for the cash you took for just one coin, but what if it's not going to do that... What do you do? Then, you fucking HODL. Whoever found himself in such a situation and didn't sell "the bottom in 2018" lived the times to see ETH going as high as close to $5,000 after bottoming at something like $100 a coin for a while.
I have often times thought about such situations for the past few months. What if my coins don't reach the targets I have set for them, what do I do? Well, I will just simply HODL, stake em, and probably buy even more during the next bear market. Blockchain technology is still in its early stages and projects that matter will only appreciate over time.
Hence, searching for such projects, buying as low as possible, and HODLing sure make a lot of sense. If you can profit off a parabolic run, do it...
But if you got caught off guard and haven't sold the top, no worries. The trend will be "up only" for probably decades to come so you'll have your chances, or you might find yourself holding some coins that not only appreciate exponentially from one cycle to another but they're earning you passive income as well.
What do you think?
Thanks for your attention,
Posted Using LeoFinance Beta