06-04-2022, 04:50 AM
If your plan is to HODL please make sure you are aware what that means
<!-- SC_OFF --><div class="md"><p>TL;DR: it’s very important to stick to your plan and be fully aware what it means.</p> <p>The most important part is to always have a plan. A lot of people follow the HODL strat and “I’m never gonna sell it’ll go back up again” mentality. It makes sense, it’s a good strategy but please be aware of what can happen. Let me give you an example.</p> <h1>The 2017 Incident</h1> <p>Imagine you bought around the ATH in 2017. 10-16.000$ back then. After 2017 a bear market hit. And it was a brutal one for the mentality of a lot of investors. -80% investment <em>on BITCOIN</em> not just alts. And this wasn’t happening in a couple months it happened over years.</p> <p>Fast foreword it’s 2019 and BTC is currently at 9k again. You hope for a new ATH to cut your losses or at least break even and what happens? It goes back down again. It’s 2020 and BTC is still at 9000$. <strong>It’s been nearly 3 years now</strong> since you bought BTC and your portfolio was always in a loss. And now Covid happens. BTC falls towards 5000$. All that with the years of mentality “Will it ever hit 10-16k again?”</p> <p>If you managed to even hold through that time after 4 years you finally get rewarded. The next big bullrun hits and it was the biggest that ever happen. In a matter of weeks BTC doubles. After that it doubles every couple weeks. New all time highs every week reaching up to 60k+</p> <p>If you managed to HODL through those years congratulations you just 6-8x your initial investment. I’ve been through this time and I can promise you the majority of people with that HODL mentality gave up and sold eventually. It’s rough and not as easy as a lot of people think.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/TarkovReddit0r"> /u/TarkovReddit0r </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/v3ypxp/if_your_plan_is_to_hodl_please_make_sure_you_are/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/v3ypxp/if_your_plan_is_to_hodl_please_make_sure_you_are/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>TL;DR: it’s very important to stick to your plan and be fully aware what it means.</p> <p>The most important part is to always have a plan. A lot of people follow the HODL strat and “I’m never gonna sell it’ll go back up again” mentality. It makes sense, it’s a good strategy but please be aware of what can happen. Let me give you an example.</p> <h1>The 2017 Incident</h1> <p>Imagine you bought around the ATH in 2017. 10-16.000$ back then. After 2017 a bear market hit. And it was a brutal one for the mentality of a lot of investors. -80% investment <em>on BITCOIN</em> not just alts. And this wasn’t happening in a couple months it happened over years.</p> <p>Fast foreword it’s 2019 and BTC is currently at 9k again. You hope for a new ATH to cut your losses or at least break even and what happens? It goes back down again. It’s 2020 and BTC is still at 9000$. <strong>It’s been nearly 3 years now</strong> since you bought BTC and your portfolio was always in a loss. And now Covid happens. BTC falls towards 5000$. All that with the years of mentality “Will it ever hit 10-16k again?”</p> <p>If you managed to even hold through that time after 4 years you finally get rewarded. The next big bullrun hits and it was the biggest that ever happen. In a matter of weeks BTC doubles. After that it doubles every couple weeks. New all time highs every week reaching up to 60k+</p> <p>If you managed to HODL through those years congratulations you just 6-8x your initial investment. I’ve been through this time and I can promise you the majority of people with that HODL mentality gave up and sold eventually. It’s rough and not as easy as a lot of people think.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/TarkovReddit0r"> /u/TarkovReddit0r </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/v3ypxp/if_your_plan_is_to_hodl_please_make_sure_you_are/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/v3ypxp/if_your_plan_is_to_hodl_please_make_sure_you_are/">[comments]</a></span>