So I was just discussing with a friend that bought into crypto a year and a half ago. He had been speaking to his brother that just bought in this past August. Their discussion was on HODL.
The simple of the resulting conversation was this:
You didn't sell at the top. The market has done (at least) most of its correction:
HODL. It would be stupid to sell now.
Only fear, panic, irrational emotions would guide you at this point to sell one more byte of crypto for fiat at today's levels. If you made it this far, hold on. It may drop more, but the negative risk of it skyrocketing before you could/would buy back in is too strong.
Hold and relax. Chill for a bit. Now may be a good time to go and spend time with the family. Completely ignore the markets for a week or more. Clear your head. Take another week off if you come back and the market has slid another 20%. But it would be crazy to sell now. If you were only in it for profits, Yeah, maybe you should have sold any time before Two Weeks ago. You didn't. So grab your pants, tell yourself you are a man (or woman if you are) and live IRL(in real life) for the next two weeks, month, 6 months.
Now..... if you have a stack of fiat and been wanting to buy in. Now or the next 6 months is probably a great time to enter. But I can't tell you when that is. Speak with your financial advisor. I'm just some idiot that sometimes writes stuff on Steemit. Were you really thinking about taking my blog as financial advice? Don't be stupid.
Okay, now go enjoy your life/family/hobby and have a great weekend!
Thx
I bought in low, so there is still more in there than what I put in. I looked at it as a casino. I don't like real life casinos because after 20 minutes at a slot machine- all the money is gone... F-- that! So I took what I considered "casino money" and bought into some cryptos. It sits there every day doing different things. MUCH better than a slot machine!
Your advice to relax and focus elsewhere is spot on.
Have a great weekend!
What a question ... rebuy and HODL !