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RE: Why Hodlers Handle Bull Markets Worse than Bear Markets?

in LeoFinancelast year

Thanks! Yes, greed often gets in the way. On one hand, people might refuse to take a tiered approach to taking profit because that reduces the end result, on the other hand they might wait too long before taking profit in full because nobody really can time this 100%, and after the the top they can enter in a stage of anxiety and then denial.

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It's true. Holders are mostly not profit takers. Maybe it's because they're probably just trying to stack for the long-term prospects of crypto in general. However, taking profit is one way to find fufillment, even if long-term is the goal.

One can take profit on some assets and not on others or only take profit partially. Personally, I don't intend to power down any of my main HP stake, for example, but I do have a plan of taking profit for Hive.