I’ve been staring at my portfolio since morning, going through my head is to hold to zero or sell at loss? Do you think this is the end for Bitcoin or we’ll reach a new ATH after this downsize?
I think, HODL of course, because it's not the first time all crypto market is dumping like this...
Breaking the zones we did yesterday felt a lot like the (start of the) drop from 6k to 2.9k we did back in 2018 - this is probably a reflection in the strength of crypto but is still likely disappointing for new investors.
If you're going to get obsessed with the prices of things, you're definitely better off holding.
If you've got an extremely strong level of self control and a good amount of confidence in crypto only then would I consider selling and moving funds out for a short time (perhaps into a diversified equity fund).
Let this be a lesson to all that claim btc is a store of value.
Store of Value don't fall off a cliff like btc.
By this logic nothing is a store of value (gold fell off a cliff around the same time, oil did similar at the start of the pandemic and might still be doing in some cases).
It is understandable that some people particularly newcomers or new investors in this market are maybe in agitated mode.
We can't blame them because it has been like we saw this $20k+ level of btc last Dec 2020. We already surpassed the hard days of pandemic period.
And yet, why are we going down to 20k range again? And so most of us thought, btc won't go down to this level again.
But if you have been in this market long enough, you will think that it is only a matter of time before it will start going up.
So better hold off because btc's lifespan is not yet over. Just another hurdle to overcome.