Re: Dont Fall Prey to these Market Sentiments and Save your Bitcoin
These are the few steps that you can take to avoid HODL that can cause loss of BTC.
Well, avoiding HODL is what we should stay away from since it's a great strategy to HODL. - Set stop-losses and take-profit targets
- Diversify your portfolio
- Have a well-thought-out investment strategy
- Regularly review and adjust your portfolio
- Conduct research and due diligence
- Have a plan and stick to it
The purpose of HODL is to take advantage from Bitcoin's capped supply and long-term trend.
HODL means we don't sell because selling would mean a loss if we miss getting back in, when prices will go up again.
And regarding diversification: I'm not sure if diversification is beneficial at all. I've written a separate article about it: Is diversification into different coins really a good advice for Newbies?
Just HODLing Bitcoin has proven to be less risky than diversification into different Altcoins.
After all, it's an interesting compilation.
May I ask which are the sources where you got your content from? I might add some more Merit if I know about the genuity of your compilation and amount of your workload.
