Re: Dont Fall Prey to these Market Sentiments and Save your Bitcoin
⭐ Merited by 1miau (2)
Well, avoiding HODL is what we should stay away from since it's a great strategy to HODL.
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.
Yes 1miau, i read your diversification article and its really interesting. There is no doubt in your context. because diversification has more benefits in traditional market because that market has more sustainability and crypto market is very volatile. i think i made a mistake here by writing Diversification instead of DCA. because diversification means, investing your money into different types of securities or assets. and as we are talking about only btc then i must have to write dollar cost averaging method to avoid hodling to save btc.
Appreciate your concerns, i will edit the post and change it into DCA. Thanks buddy,
And Also thanks for the appreciations. and coming on to the genuity. i tried to provide source links to almost most important facts and figures i used in this article to prove genuity. Additionally, i read different article to get clear concept so i can write in a way that others can understand. So i hope you get the answer. I did not add those article links ofcourse not of every article. Do i have to add? or is it ok, i thought it would be overcrowded with links then. Yeah and the pictures i edit them myself on Canva.
Dear Op your complication for the his topic
Thanks for the appreciations.
Pump and dump scheme does not exist in Bitcoin market. If it has ever existed, it was long time ago, years ago when Bitcoin had smaller price and very smaller trading volume. Nowadays, you can see rises and falls for Bitcoin but not pumps and dumps.
It is true to use pump and dump scheme for altcoins, not Bitcoin.
DCA and hodl your bitcoins with very long term vision will help you get rid of fear of missing out, panic.
Stop loss order is good but you have a better order, Stop limit order
Exactly, It is true to use pump and dump scheme for altcoins, not Bitcoin.
DCA and hodl your bitcoins with very long term vision will help you get rid of fear of missing out, panic.
Stop loss order is good but you have a better order, Stop limit order
OP, you forgot to mention the biggest and worst market sentiment, when it comes to Bitcoin-panic selling. I think that panic selling doesn't belong to the FUD category and it should be on it's own category.
I don't agree that HODLing is a wrong market sentiment for Bitcoin. Maybe HODLing is wrong when you want to HODL some altcoin or token for the long run. I'm sure that HODLing middle-sized altcoins and tokens, that belong to shady crypto projects is a recipe for losing your money.
The pump and dump market sentiment doesn't apply to Bitcoin at all. I don't know why did you put it in this list. The pump and dump schemes are focused solely around shitcoins/tokens.
I don't agree that HODLing is a wrong market sentiment for Bitcoin. Maybe HODLing is wrong when you want to HODL some altcoin or token for the long run. I'm sure that HODLing middle-sized altcoins and tokens, that belong to shady crypto projects is a recipe for losing your money.
The pump and dump market sentiment doesn't apply to Bitcoin at all. I don't know why did you put it in this list. The pump and dump schemes are focused solely around shitcoins/tokens.
yes davis196, i appreciate your concerns about correcting information, Firstly the biggest and worst market sentiments like, concerns related to regulations, security risks and enviromental conerns etc. these topic require lot of information and can not be covered under the roof of one article, or if you have on your mind then share, i will try to cover them separately with corelation to each other for better understanding. P&D scheme is for informational purposes, i think i also made mistake by writing not few lines in the heading "Why should we avoid Pump and Dump Schemes?" I will add some line just to clear things out. or if you want this heading to be removed or replaced then also i am open to hear you.