Post
Topic
Board Trading Discussion
Re: what is the right time to cash out?
by
aencarnaci
on 04/12/2017, 11:07:20 UTC
I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

I’ve made this mistake in the past. Sometimes you just have to invest and then not look at it for a few months. If you panic buy and panic sell you’re going to miss out on gains. Cryptocurrencies are high risk investments and there will be volatility so you need to invest money that you can be willing to lose if it goes bad. This will help you be able to buy and hold long term.

With Bitcoin, you are most likely going to make money if you buy and hold for a few years even if the price drops some during that period.
So many people have made this mistake a lot and that is the reason why not knowing the details of what one is investing in is very bad. This forum is not for decoration or signature campaigns alone, there are so many people who have shared stories like this in the past, and the problem is just to ask questions. However, like they always say, every mistake is an experience and we get to learn from it.