Whether its bitcoin trading or altcoin trading, there is bound to come a time when your investment is getting dumped badly, and its panic time.
How do you panic? Does that really make you panic and do you take decisions that you actually regretted later? Or do you keep calm and HODL?
What makes you panic and how do you react to it?
I'm on Panic if the price of bitcoin is dump. Especially when l am in need l used to sold already because l need money for my kids. But now people panic on holding bitcoin because of the promising price in the future.
If the above still represents your reaction whenever the price of Bitcoin plunges, it shows there's need for your trading skills to be overhauled. First and foremost, a good trader analyzes whatever asset they're going to commit their money on and whatever change that needed to be made, is never done midstream. Beyond that, you do not invest money you cannot afford to lose, because emotionally one would be destabilized and end up making avoidable mistakes.
HODL seems to be mistaken for some holy grail or fail proof strategy, but it's not! Quality studies and analysis of the asset is still very vital to forestall a situation where one ends up buying at the peak price and losing so much value when a plunge ensues.