What's your thought about this?
I have a scenario for this topic:
John bought Bitcoins when at the price of $18,000 and decided it to HODL.
But after he bought some Bitcoin, the price is starting to decrease, from $18,000 to $10,000 and to $4,000.
So,he already lost his money for almost 50% and he decided to gamble his Bitcoins;
Here's the thing, if you are John and start to gamble, would you bet with high risk (betting with huge amount, betting in low chance of winning, etc)?
Since if it was me, I already lost a lot when I even bought those Bitcoins at $18,000 so the best thing I can do is to gamble it and earn more bitcoins to decrease my loss or breakeven it.
What can you say about this? Or maybe you already experienced this.
Indeed. The risk is much higher if you decide to gamble when we are on a bear market because before you start to gamble you already lose a huge amount of money/ So if i were John i would not try to gamble because even he experienced a win streak, his winnings could continue to decrease it's price due to bear market and it will be difficult for him to recover his losses if he experienced a lose streak.