01-23-2022, 01:00 PM
HODL culture is a very dangerous cult (esp. for altcoins), please stop doing this to
<!-- SC_OFF --><div class="md"><p>I am NOT blaming anyone here. This is my personal experience backed up with some data. DYOR. NFA.</p> <p>I am NOT encouraging you to sell at a loss. I am just asking you to rethink your strategy and evaluate whether every single coin in your portfolio deserves long-term HODL.</p> <p>I will try to explain why you cannot always expect HODL to work in the long-term and why we should stop BLINDLY following this gold-standard consensus. Again DYOR.</p> <p>Nothing wrong with HODLing BTC and ETH for the very long-term, BUT it's much more complicated with "altcoins"... Let's dive deeper.</p> <p>We hear HODL every day so much that we kinda forget there is another way of landing in profit in crypto.</p> <p>I myself am a victim of the HODL bs (a blind believer) and I still have bags from 2017/2018 that have not managed to pump to prices I bought them at during the 2017 bull run and 2018 crash (yes even after I DCA'd those years). I HEDL for too long and didn't take profit when I had to. Now I don't want to sell them at a loss, but I don't really believe they will ever reach their 2018 ATH.</p> <p>Let's get real. <strong>HODLing does NOT work for every single coin out there</strong>. No matter how strong the project is, the reality is, not everything will go up forever. With the exception of maybe BTC and ETH.</p> <p>You cannot predict the market. A strong project can 100x overnight but then go back down 70% and never again see its previous all-time high.</p> <p>There is nothing wrong with locking your profits. Don't let anyone make you feel bad about it. Even if you lock your profits at 50%, you are still 50% up.</p> <p>Be consistent. A couple of nice 2x trades, will get you to your first million a lot faster than chasing 1000x moonshots all the time and losing $100 here, $100 there, another $50 elsewhere. Consistency is key.</p> <p>​</p> <p>Here are some examples:</p> <p>Imagine bag holding all these years, and not selling the following coins when they were trading at crazy high prices. You didn't have to sell exactly at an all-time high (cause who can predict the top/bottom anyway). But my point is, you'd be better off in the long-term, if you sold these when they were pumping like crazy and locked your profits close to the ATH when you could (even 20% lower than the ATH would have done wonders to your portfolio). Once you lock your profits from altcoins that you can't be sure of for the long-term, then you can funnel those profits into solid projects like BTC and ETH. Or hell, even staking your stable coins.</p> <p>(prices are daily averages from CMC)</p> <table><thead> <tr> <th align="left"></th> <th align="left"><em>2018 ATH</em></th> <th align="left"><em>TODAY</em></th> <th align="left"><em>2021 bull run performance</em></th> </tr> </thead><tbody> <tr> <td align="left">EOS</td> <td align="left">$23</td> <td align="left">$2.17</td> <td align="left">Didn't manage to break $14 last year</td> </tr> <tr> <td align="left">IOTA</td> <td align="left">$5.69</td> <td align="left">$0.7585</td> <td align="left">$2.5 was the top</td> </tr> <tr> <td align="left">NEO</td> <td align="left">$197</td> <td align="left">$17.2</td> <td align="left">$120 was the top</td> </tr> <tr> <td align="left">Compound</td> <td align="left">-</td> <td align="left">$118.69</td> <td align="left">$911 was the top</td> </tr> <tr> <td align="left">XRP (Ripple)</td> <td align="left">$3.84</td> <td align="left">$0.57</td> <td align="left">Struggled to break $1.8 (...since 2018)</td> </tr> <tr> <td align="left">NANO</td> <td align="left">$33</td> <td align="left">$2</td> <td align="left">~$13 was the top</td> </tr> <tr> <td align="left">TRON</td> <td align="left">$0.22</td> <td align="left">$0.055</td> <td align="left">$0.16 was the top</td> </tr> <tr> <td align="left">XLM/Stellar</td> <td align="left">$0.9381</td> <td align="left">$0.1849</td> <td align="left">didn't manage to break ~$0.7</td> </tr> <tr> <td align="left">Filecoin</td> <td align="left">-</td> <td align="left">$18.58</td> <td align="left">$237 ATH</td> </tr> <tr> <td align="left">Monero</td> <td align="left">$470</td> <td align="left">$147</td> <td align="left">$517</td> </tr> </tbody></table> <p>The list of top 100 coins on CMC today is VERY different from the top 100 of 2017 and 2018. And I'm sure it will be very different in 3-5 years again.</p> <p>​</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/egobamyasi"> /u/egobamyasi </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/sa5wtu/hodl_culture_is_a_very_dangerous_cult_esp_for/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/sa5wtu/hodl_culture_is_a_very_dangerous_cult_esp_for/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I am NOT blaming anyone here. This is my personal experience backed up with some data. DYOR. NFA.</p> <p>I am NOT encouraging you to sell at a loss. I am just asking you to rethink your strategy and evaluate whether every single coin in your portfolio deserves long-term HODL.</p> <p>I will try to explain why you cannot always expect HODL to work in the long-term and why we should stop BLINDLY following this gold-standard consensus. Again DYOR.</p> <p>Nothing wrong with HODLing BTC and ETH for the very long-term, BUT it's much more complicated with "altcoins"... Let's dive deeper.</p> <p>We hear HODL every day so much that we kinda forget there is another way of landing in profit in crypto.</p> <p>I myself am a victim of the HODL bs (a blind believer) and I still have bags from 2017/2018 that have not managed to pump to prices I bought them at during the 2017 bull run and 2018 crash (yes even after I DCA'd those years). I HEDL for too long and didn't take profit when I had to. Now I don't want to sell them at a loss, but I don't really believe they will ever reach their 2018 ATH.</p> <p>Let's get real. <strong>HODLing does NOT work for every single coin out there</strong>. No matter how strong the project is, the reality is, not everything will go up forever. With the exception of maybe BTC and ETH.</p> <p>You cannot predict the market. A strong project can 100x overnight but then go back down 70% and never again see its previous all-time high.</p> <p>There is nothing wrong with locking your profits. Don't let anyone make you feel bad about it. Even if you lock your profits at 50%, you are still 50% up.</p> <p>Be consistent. A couple of nice 2x trades, will get you to your first million a lot faster than chasing 1000x moonshots all the time and losing $100 here, $100 there, another $50 elsewhere. Consistency is key.</p> <p>​</p> <p>Here are some examples:</p> <p>Imagine bag holding all these years, and not selling the following coins when they were trading at crazy high prices. You didn't have to sell exactly at an all-time high (cause who can predict the top/bottom anyway). But my point is, you'd be better off in the long-term, if you sold these when they were pumping like crazy and locked your profits close to the ATH when you could (even 20% lower than the ATH would have done wonders to your portfolio). Once you lock your profits from altcoins that you can't be sure of for the long-term, then you can funnel those profits into solid projects like BTC and ETH. Or hell, even staking your stable coins.</p> <p>(prices are daily averages from CMC)</p> <table><thead> <tr> <th align="left"></th> <th align="left"><em>2018 ATH</em></th> <th align="left"><em>TODAY</em></th> <th align="left"><em>2021 bull run performance</em></th> </tr> </thead><tbody> <tr> <td align="left">EOS</td> <td align="left">$23</td> <td align="left">$2.17</td> <td align="left">Didn't manage to break $14 last year</td> </tr> <tr> <td align="left">IOTA</td> <td align="left">$5.69</td> <td align="left">$0.7585</td> <td align="left">$2.5 was the top</td> </tr> <tr> <td align="left">NEO</td> <td align="left">$197</td> <td align="left">$17.2</td> <td align="left">$120 was the top</td> </tr> <tr> <td align="left">Compound</td> <td align="left">-</td> <td align="left">$118.69</td> <td align="left">$911 was the top</td> </tr> <tr> <td align="left">XRP (Ripple)</td> <td align="left">$3.84</td> <td align="left">$0.57</td> <td align="left">Struggled to break $1.8 (...since 2018)</td> </tr> <tr> <td align="left">NANO</td> <td align="left">$33</td> <td align="left">$2</td> <td align="left">~$13 was the top</td> </tr> <tr> <td align="left">TRON</td> <td align="left">$0.22</td> <td align="left">$0.055</td> <td align="left">$0.16 was the top</td> </tr> <tr> <td align="left">XLM/Stellar</td> <td align="left">$0.9381</td> <td align="left">$0.1849</td> <td align="left">didn't manage to break ~$0.7</td> </tr> <tr> <td align="left">Filecoin</td> <td align="left">-</td> <td align="left">$18.58</td> <td align="left">$237 ATH</td> </tr> <tr> <td align="left">Monero</td> <td align="left">$470</td> <td align="left">$147</td> <td align="left">$517</td> </tr> </tbody></table> <p>The list of top 100 coins on CMC today is VERY different from the top 100 of 2017 and 2018. And I'm sure it will be very different in 3-5 years again.</p> <p>​</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/egobamyasi"> /u/egobamyasi </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/sa5wtu/hodl_culture_is_a_very_dangerous_cult_esp_for/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/sa5wtu/hodl_culture_is_a_very_dangerous_cult_esp_for/">[comments]</a></span>Kind Regards R