Ninjastic
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Board Bitcoin Discussion
Re: Throwback: Bitcoin was $64k today, a year ago.
by
KaliLinux
on 21/10/2022, 06:43:24 UTC
Quote from: Anonylz on October 20, 2022, 07:29:44 PM
Quote from: virasog on October 20, 2022, 04:55:09 PM
Quote from: BitcoinBarrel on October 20, 2022, 04:34:47 PM
Anytime the price of an asset or commodity shoots straight up vertical producing 10x+ returns, it's a good time to sell.

Let this be a lesson to anyone new to crypto, not to get greedy.

You can say that bitcoin was 10x return a year back and it was a good time to sell. But do you remember when bitcoin was at 69,000$, the whole media, everyone was shouting for 100K bitcoin? At that point, it was hard to sell when everyone was anticipating 100K.

You can call this greediness, but these whales make such an environment that a common man like us never sells and keep holding.

You are both right in different ways, I would say as from 60k and above was a good time to sell but @virasog pointed out, with such prediction from whales, it was difficult for many investors to make that move to sell. I believe this does serve as a lesson in the sense that every investor should have a goal and a target point so that they don't get confused when the price surpass their target and keeps going. It is a tough but necessary decision to be made.
Rightly so. We cannot continue to follow the hype without having our own target in this cryptocurrency market. We all invested at different times and ought to be looking at different profit-taking points however if we feel we want to continue HODLing through the continuous Bears and Bull market without selling, then those are the Diamond Hands  Cool but Bitcoin that we have come to know will surly rally back but only a matter of time.