Until today I had .3 BTC, which I suppose qualifies me somewhat to give an opinion. Not that I'm a crypto whale, though if I were at the beach, I might need to be concerned about harpoons if it was dark and I were in Alaska. Today, I bought another .3 BTC. That leaves me with .6 BTC.
But, some say, BTC is down today. If it continues to go lower today, I am told, I will lose money. But will I really lose anything? Will part of my .6 BTC be eroded? Will I suddenly have .59999 BTC?
What people usually mean by these statements is that I would receive fewer US dollars if I were to sell my BTC. But really, even if BTC flash crashes to $10 today, I will still have .6 BTC.
Should I compare the value of my BCC relative to Euros? How about gold? Or maybe silver. Or maybe even the value of Microsoft at today’s close, which is also in US Dollars? Either way, unless I sell today, I will still have .6 BTC.
Is this a HODLR mentality? Perhaps. But if I’m buying BTC to preserve my capital, I have to ask, preserve it from what? If I'm buying it to trade, then against what?
I no longer let the price of cryptocurrencies affect my emotions. In part, because I own so little. But mainly because I know that as sure as the sun will rise, the value of Bitcoin will fluctuate. Maybe Jamie Diamond will shit in his pants and Bitcoin will skyrocket past $5,000 US. But I will still have .6 BTC. And Jamie will need a new pair of fancy trousers.
You simply invested. That means you never ever sell lower than you bought. Strange that people today understand the meaning of hodling but do not know that investing means exactly that. Probably because investors usually need big sums of money in order to buy a share of a start up. Not what the average Joe is doing on a daily basis.