Post
Topic
Board Mining (Altcoins)
Re: What to do in a bear market
by
rdluffy
on 06/06/2022, 20:36:04 UTC
I always found it curious why you did this. I know you bought your eth at around $80 so selling at $1500 was a huge profit, but why only target around $100+ above the previous ath from back in 2018? Why didn't you dca out, ie. layer out, say 25% at $1500, 25% at $2500, etc.?


Everything rose too fast, it was insane, eth did not but altcoins rose too much, so, because altcoins rose too fast a huge crash was imminent, so I sold before that, yea there are phases but insanity goes beyond market phases, crypto is 99% speculation, 1% is error. I bought some altcoins few months ago and sold them when I saw 4 times rise and then all crashed much much lower than what I bought. When on profit, sell, there are levels of greedy, I was not too greedy, yes I was greedy because I got almost 20 times profit and it was enough for me, aiming higher than that is delusion but each to its own.

It is easy to trade the past  Cheesy

1500 USD was a good price to sell, and at that moment, was a good decision for sure, because a crash could occur and again people could ended with a bag of coins
After lived a bear market, I learned that we can't be too greedy, and we can always leave some %, like 5 or 10% to sell in an incredible pump.
This is for altcoins and mining to pay costs, for BTC I believe in a better future, and for ETH sometimes I have bad feelings about, but in the long run it should be good enough to maintain the 2nd place and the main altcoin for some years.
And if you hold a coin and mine at a loss just for secure network and support the project I also really respect that.

Bear market is always confusing, some say we are already in a bear market, some say we're not yet, but in my opinion, we are for some time and NOBODY knows the future, maybe the cycle will not repeat again and we can start some run to ATH again...