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RE: The #1 mistake most crypto traders make

in #bitcoin7 years ago (edited)

You can say that again. BTC going down from $2,200 to 1,800 last July was already an uncomfortable experience for me although I held on. And the rebound came quite fast. But how was it for those in 2014 when it peaked at $1,200...and then tumbled all the way to $300 or so?

Yes, those who HODL are having the last laugh when it went back up to 1,200...plus added much more. But that took months to achieve. Many had given up up and sold before that.

It requires a lot of faith to hang on tight for long periods of time. I don't have that. Although I believe in the future of cryptos, I don't want to be a partisan or zealot. Must always remember my main goals: to protect my capital and preserve as much profit as I can from these "good times". I will continue to sway with whichever way the wind blows.