1
For those new to crypto, just a simple question for you:
• Do you have an exit plan, or do you plan to Hold On for Dear Life (HODL) with diamond hands?
The name of the coin below doesn't matter, but the story does.
2
If you're not psychologically prepared for the run that will happen over the next 8-12 weeks, then euphoria will take over.
You'll find yourself deciding, "Just a little higher, then maybe I'll sell some, but it's going to the moon."
3
• Once it's peaked and falls some, those unrealized profits will weigh on your mind and you'll think, "I bet it goes back up again, I'm not selling."
• After it drops 30% only to bounce almost all the way back, you'll say to yourself, "See, I knew it was going to keep going"
4
• However, the next sharp drop of 30%+ over a few days will catch you off guard.
• Then, those unrealized profits will start creeping back into your mind again and you'll convince yourself not to sell "for a loss" even though you'll still probably be up from your entry.
5
• Before you know it, that 30% drop will turn into a 90%+ drop and that voice in the back of your mind will flip on you.
• Now, it's not saying that the price will recover but it's screaming, "I told you to sell when you had the chance, stupid!"
6
• At this point, perhaps late 2022 or early 2023, you will have officially learned what it means to be a "bagholder".
• Now you're so far down from those peaks that the unrealized profit feels crushing and depression kicks in for most people.
7
• Watching an initial investment of $15k to $20k go up to $100k, only to see it drop to $10k or less can wound a person.
• I'm not saying that this will definitively happen this cycle, but while many are saying "this time is different", that statement was said last time too.
8
• Now, if you're a Liquidity Provider earning yield in Defi and plan to leave your funds there, great. You've got a plan. But have you done research to see if the yields will be there in case of a massive bearish sell-off?
• Don't go into this blind.
9
This message isn't intended as doom and gloom, but as a suggestion to those shouting, "I'm never going to sell!" to think about whether you can stomach being a bagholder if this scenario plays out again.
@Engineeringhere
Crypto cycles are very drastic. I’m sure it makes sense to sell if it is clear where a top is. Then there are taxes. Then you have to buy back in at a bottom. So….yeah it makes sense to sell but it’s a lot to worry about.
@njmaran1
Yeah, but as I've said before, my introduction to $BTC was when I bought a little in Dec. 2017.
I have ZERO plans to be a bagholder during the upcoming bear market.
$BTC has never existed within a global bear, and I think 2022/2023 is going to be a doozy.
@Engineeringhere
This is where $GRT shines, I actually chose it with the bear market in mind. Because when it comes Web 3.0 will already be here to stay and GRT will continue to give steady passive income via delegation and curation.