As a BTC holder, this situation is the most uncomfortable one for me just like any other BTC investor. Am I scared? Sure. My assets came to half if I calculate properly.
But the question is, should I panic selling my BTC holding?
Screenshot from coindesk.com
If I look at the chart then, it's telling me to be positive about selling.
But I have some other opinions.
The answer to the question above is still no from my side. But as I have some offline investment plan in 2022, maybe I have to do that if I see BTC is going down $30k.
This statement sounds very straightforward, I know. But the whole decision is not this simple, anyone can guess that. Also, the situation will tell everything.
Are you the one who is panic selling?
No need to say, if you notice the market and trading platform status, people are selling a huge amount of BTC and other coins as well. I understand the situation, there's no green prediction in a future couple of months. Maybe this bearish market will last longer than we expect.
The thing is, other cryptocurrencies and stocks related to it also go down with BTC. So even people sell, they don't have enough profit to invest. At this point, it seems meaningless to me.
But I respect everyone's personal decisions because we all have our own reasons.
Screenshot from coindesk.com
My Opinion:
I believe, we all have different investment plans & strategies, and achievement goals. So each investor’s risk tolerance will vary. It’s important to understand how much you can personally tolerate.
Like I said, for me; it's okay but I will sell maybe half of my asset if it goes down $30k. And will hold the other half.
I agree with the saying of Douglas Boneparth (president of Bone Fide Wealth),
"For some people, the volatility “may be OK, that may coincide with your appetite for risk and your own risk tolerance and investment time horizon."
I would not suggest anyone invest more or buy in this dip. Because for now, that doesn't sound like a clever idea. No prediction is showing green candlestick in the recent future. But if you are a long-term investor or have the plan to do so like for 5-10 years. Then maybe you are good to go. Otherwise, do your research properly and proceed accordingly.
Thanks for reading my post.
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I sold my 6.500,- Bitcoins in 2012 after MtGox crash .. for 7.000,- Euro ...
But anyway .. Cryptos were not meant to be a speculation object but becoming a replacement currency for fiat money -- and now they are one more asset for fiat-speculation ..
thats sad
we really need a fiat-independent fix valued cryptocoin people can use to exchange goods or services .. and not use as a good !!
I also did the same in 2013. After that the price surge.
I agree with you, crypto is not in the place we thought it would be, still not near to fiat.
It would be very simple ... no mining, a clever, prefabricated value, which is only based on the international inflation, so eg an annual average of the gold-silver price and if the value is too high again divided by the hours ... and to avoid the forced registrations by the Money Laundering Act 2016, as coupons from private to private to trade ... what must be clarified before, is the establishment of an online trading network ! Because only if a currency is recognized by trust, it can be successful. And trust is gained by security and stability ... and by the fact that many others, whom one may or may not know, also use it - thus a kind of platform currency.
The millions currently demonstrating around the world would be an excellent opportunity to introduce alternative markets and a corresponding currency ! Initially still small and on a secure server. decentralize with increasing number of users and create own banks ! Yes ! Read correctly ! In almost all countries it is possible to create one (or more) cooperative banks with practically zero capital. If the market is closed - i.e. only for members, one can prevent by pre-selection that the usual glóbal corporations sneak in and manipulate prices and offers ... one can build it up slowly and controlled. From about 5% of the total population, you have reached a size that can no longer be simply turned off -- then you can let it run. So it's important that a coin offers stability -- and users can also save without fear that tomorrow the value will be halved or the coin will disappear ... or it will go back to fiat money ....
It is doable and not that difficult, just unfortunately -- no one cares, because there is no speculation in the process and therefore no quick wealth. As always, greed wins - with the programmers as well as with the users !
Selling now is not advisable, except you're still in profit.
That's the thought. Thanks.