Quote from: blckhawk on Today at 01:56:38 PM

Quote from: Stedsm on September 07, 2020, 10:59:56 PM

For noobs, HODLing is a term used for "holding" your assets (here: Bitcoins) for a very long time. But, isn't it true that those who bought it at $500 once should have sold it at $20k peak, and if not, why didn't they sell at $15k? BTC didn't crash all at once and they had the opportunity to sell and wait for another opportunity. A $15k per BTC against a $500 BTC - means a 30x return itself. And BTC crashed to $3k, if not $3k, then these hodlers would have bought back at $6k which is even less than half of $15k as they would also have added a lot more liquidity to the markets with too much money on the table. Isn't it true that too long a hodl can stop you from taking great opportunities while sitting dumb and waiting for a specific target?

It is a hundred percent fact. If you hold too much for a long time there's a high chance that you will miss a lot of opportunities. This is not the right thing to do, it would be more likely a greed. There's nothing wrong in holding and as a matter of fact, it is really profitable but you must have a limit, you gotta set your target sell. In my opinion, 10x or quite a few more would be enough. Once you saw Bitcoin in uptrend take an opportunity to sell and vise versa if it is in a downtrend.

Yes. It's kind of greediness as you keep on wanting more profits even if you can already make profits with the present price. I suggest to sell some of your coins when you think the price has already reach your target selling price, but keep holding some of them for future profits. In this way, you did not miss the present opportunity and the future opportunities that you are going to grab if there's any.