Quote from: michellee on Today at 01:56:33 AM

Quote from: DU18 on May 21, 2021, 07:30:25 PM

Quote from: michellee on May 21, 2021, 04:04:28 PM

If the bears are coming, then so be it. I will still hold my coins for some time and I will buy more if the price is getting down for deep. I already take my profit before. I am okay with what happened to the market, but I still want to profit from the market to wait for more. I still hope that some altcoins can increase to give me the profit to get the money from the investment.

If we are not selling any coins in the bear trend, we only lose the value of the coin and that value can back increase in the future. But if you sell the coins, that will make you worry if you can not make a profit in the future because you can be late to buy back the coins.

This kind of situation will really test our mentality as traders, because in this bearish market condition, not a few traders experience panic and do Cut Loses (CL) to minimize losses, even though if you think about doing CL, it will worsen market conditions because the selling volume that occurs is getting higher, from the experience so far, when the price of bitcoin or crypto is falling, of course the whale will collect a large amount of bitcoin and will most likely push the price back up, and like you, I prefer to keep my assets on the exchange instead of having to CL and suffer a number of losses, because I am very confident that the bulls will come again.

That happens to some of my friends who can not hold their coins, even we already tell them not to selling their coins. I admitted that the reason why they do that is that they need to make money from trading. Some of them use limited money and they need to survive from trading and they think fast to cut losses before the losses become bigger.

The crypto market will be back like before and we only need to be patient. The whales themselves try to accumulate more amount by buying the coin at a low price and that is their benefits because they have a lot of money that various potential coins can buy.

History repeats itself. Starting in the mid 90s day trading became a big thing. Many went broke, some killed themselves, some killed other and then killed themselves.