Why do people refuse to take profits when their coins and tokens are surging so high? Should this be called greed or they simply have strong believe that the coins and tokens will worth more in future? Is it wrong to keep holding coins even when they bring 1000x profits cos everyone seem to be talking about 'greed' here and there
not a greed but everyone has their own target to determine profit. if the increase is not in line with the target, I think the person chooses to hold rather than take profit too quickly for an asset that is not necessarily on their target.
Yes there are multiple reasons behind it. The coin is considered to be more worthy than its in the market now. Thats why people who bought it, are holding it for many more years as it would grow up more and they can take more profits out of it. Its a kind of confidence that the crypto currencies have made among investors. The growth will be vast than expected. And long term trade is always calm and much profitable than day trading where lots and lots of panic, chaos, emotions, loss fears and etc will really knock us down. I have experienced though.