The price of bitcoin started rising from 15k to 20k,from 20k to 25k, I thought it has reached the last increase this season.
The following day I saw a bullish movement again, I saw movement from 25k too 30k. I thought it will be too risky to buy when it was at 30k, but it kept rising until it was 32k. I bought some Satoshi at that price level.
Few days later it rose to 33k and started a bearish movement to 31k, I was already loosing my hard earned cash. I hastily converted it to etherum because it was performing better.
I later discovered that I made a very big mistake by cashing out at a loss, I would have waited a little. A week later, Bitcoin rose to 40k plus.
I want you to comment on this scenario, when should one cash out, as the volitality of the market is very scary.
What's your advice? Is it keep holding? What if keep holding means holding at a loss?
The volatility factor is here to stay for a longer period of time and you will also witness market crash,dips,price boost and its really depend upon you to decide entry and exit point of the market.But if you can wait for longer period of time and have patience until that time just HODL for that time period.The prices are once again rising and have reached $48k level but it's just a kickstart for major boost which are yet to come.
Imagine 5 years later the prices have reached to $200k and have crash to $140-$150k will it still matter to you at that time if you have invested at $50k or lower when you have 4x investment in such short span of time because negative people will still be calling it bubble.Lol
So it's upon you whether you want to stay or not depending on your needs or profit margins (usually everyone wants high returns) but advice is to Hold for longer period of time because you fiat will be depreciated with rise in inflation and BTC will help you to secure your future with high profits and payment methods.