Hello,
I got into Bitcoin last February. I don't know anything about trading though I often watch Krown's Crypto Cave on YouTube. It's just as confusing to me as it is fascinating. I don't want to be a trader because I know nothing about it but since I bought my first Bitcoin I set up alerts on my phone for sudden increases and decreases and I've noticed patterns.
For instance, on Friday when Bitcoin jumped 36% from $7,400 - $10,300 my alerts on my phone were off the charts. I've seen this before, most notably when Bitcoin jumped up to $13,600 in September. Both times I felt that whales were pumping and dumping and I pushed the button on my phone to sell high but then I started shaking and canceled the sale. Sure enough, a couple of hours later Bitcoin gets dumped and goes back to reasonable levels.
Guys, I know I'm stupid because I'm asking myself, in both instances, why I didn't sell high and wait for Bitcoin to come down and buy again? It seems like a sure thing. All I hear are stories about people losing the shirts off of their backs from trading so that's why I just hodl. Am I missing something here? When I see the whales move the market this quickly should I just grab onto their tales and go for the ride? It seems like a sure thing but I know I'm missing something. Please educate me as to what is wrong with my reasoning.
Thank you.