Many of us, including myself, left a lot of money on the table at the peak. I sold around 8% of my entire portfolio within the 15% area around the top. The rest, at least on my major plays, essentially remain unchanged and I continue to hold.
Some of my portfolio is legitimately crushed, while other parts are holding steady, but there is no question, the day of reckoning came and in many ways won.
Through this, I can adamantly and confidently say, if you were invested during the great run of late fall of last year, your portfolio, like mine, is only down on a relative basis. As humans, our nature is to remember what we “could have” had, and often we consider that to be a loss. Often it is not in us to remember where we started.
Over the last 4 months I can confidently state that we have entered into a sideways market, I do not feel like the bears are in control any more. Bitcoin and the blockchain cost to create, it carries that cost and sustains what we consider the intrinsic value through the amount of electricity used to mint new Bitcoins. This is a very important aspect to remember and to consider. If the ground floor really is around the $6k USD value, I feel exceptionally optimistic, especially if we see some positive news in the coming weeks/month. The bull markets and the bear markets are always far greater than we anticipate.
Nobody and I mean nobody saw $19k coming last year.
I didn’t see $5800 coming once we tipped the peak at $19k either. Once the bear market was confirmed, as a holder, I found myself in denial regularly.
My interest is long term. If BTC ever really does make it to $100k or even $50k, i would rather wait it out than risk losing it by over-trading. I’m just a better sentiment trader than I am a day trader. I do day trade, I enjoy it. However I’m smart enough to recognize my lack of confidence in day trading which effects my decisions on any large scale trades. Self doubt is just as dangerous as over compensating or being overly sure.
This is crypto. Nobody knows.
I feel the tide turning, I expect $10k by the end of the year. I wouldn’t be surprised if it was higher.
But I wouldn’t be surprised if we were lower either.
Such is crypto.
This is a kind of funny question per se. The truth is it's painful to hodl now than before. The price of cryptocurrencies are not helping matters. The price is dipping. Even the dipping continue dipping