06-21-2021, 01:50 PM
Some general thoughts from someone who's been involved with crypto since 2010. I'm n
<!-- SC_OFF --><div class="md"><p>Personally, I am to a point where I am treating the dip as an opportunity. Billionaires and banks own crypto. They have the financial means to not only wait out dips, but to continue to accumulate during them. I am in a position where I can afford to do the same, so I am.</p> <p>Also, everyone's financial, emotional and mental positions are different. If you've got too much skin in the game and need to sell, then you've gotta do what you've gotta do to get by. Most of us have been there and had to do the same thing. People should understand that and, if they don't, that's on them, not you. Don't worry about the naysayers and do what is necessary for you financially. </p> <p>If you are too worried by the drop and selling is the option you need to take to dissociate yourself from that emotional turmoil, then do that. I've been through many big drops myself and sold 625 BTC in early 2011 for the same reason. I originally bought them in 2010 for $0.83/coin. There was a run-up to $9 and I was on cloud nine. Then, there was a big dip and during it, I sold at $2.50. Now, I obviously regret that, but at the time, it was necessary for me to decouple myself because I was too emotionally attached and was spending most of my waking moments obsessing with Bitcoin price and speculation about its future. It was negatively affecting my work life, my social life and, most importantly, my relationship with my wife and kids. Getting out temporarily and hitting that reset button was necessary to allow me to rebuild and focus on those other aspects of my life. </p> <p>And, I know this gets thrown around a lot and people have tons of opinions regarding this subject, but if you're in a position where you are seriously thinking about ending it all, like a friend of mine did just before Christmas of 2018 after investing more than she could afford to lose and watching her investment drop 80%, please seek help. What is happening right now is very concerning to many people, especially those who haven't personally experienced a drop like this before, and there are people out there who can help you get through your mental turmoil if you let them. Focusing on you and your mental health is the single most important thing if you are in that position.</p> <p>Be well, everyone.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/MightyCaseyStruckOut"> /u/MightyCaseyStruckOut </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/o460uy/some_general_thoughts_from_someone_whos_been/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/o460uy/some_general_thoughts_from_someone_whos_been/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Personally, I am to a point where I am treating the dip as an opportunity. Billionaires and banks own crypto. They have the financial means to not only wait out dips, but to continue to accumulate during them. I am in a position where I can afford to do the same, so I am.</p> <p>Also, everyone's financial, emotional and mental positions are different. If you've got too much skin in the game and need to sell, then you've gotta do what you've gotta do to get by. Most of us have been there and had to do the same thing. People should understand that and, if they don't, that's on them, not you. Don't worry about the naysayers and do what is necessary for you financially. </p> <p>If you are too worried by the drop and selling is the option you need to take to dissociate yourself from that emotional turmoil, then do that. I've been through many big drops myself and sold 625 BTC in early 2011 for the same reason. I originally bought them in 2010 for $0.83/coin. There was a run-up to $9 and I was on cloud nine. Then, there was a big dip and during it, I sold at $2.50. Now, I obviously regret that, but at the time, it was necessary for me to decouple myself because I was too emotionally attached and was spending most of my waking moments obsessing with Bitcoin price and speculation about its future. It was negatively affecting my work life, my social life and, most importantly, my relationship with my wife and kids. Getting out temporarily and hitting that reset button was necessary to allow me to rebuild and focus on those other aspects of my life. </p> <p>And, I know this gets thrown around a lot and people have tons of opinions regarding this subject, but if you're in a position where you are seriously thinking about ending it all, like a friend of mine did just before Christmas of 2018 after investing more than she could afford to lose and watching her investment drop 80%, please seek help. What is happening right now is very concerning to many people, especially those who haven't personally experienced a drop like this before, and there are people out there who can help you get through your mental turmoil if you let them. Focusing on you and your mental health is the single most important thing if you are in that position.</p> <p>Be well, everyone.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/MightyCaseyStruckOut"> /u/MightyCaseyStruckOut </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/o460uy/some_general_thoughts_from_someone_whos_been/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/o460uy/some_general_thoughts_from_someone_whos_been/">[comments]</a></span>Kind Regards R