I've been in this crypto space for a while now and there is this mentality instilled in people that seems selling ones coin is bad and one is heading to failure which is very wrong at least from my perspective.
I've always been on the track that investing in Bitcoin simply means buying low and selling high, which I think is one of the keys to success in the crypto Industry. I always tell people that the moment you buy at a certain price and it starts rising possibly to a price that you feel ok and contented with, then you should feel free and confident to sell atleast to get the profit first and always use stop loss just incase the price drops, rather than having a little portion of Bitcoin and letting it get liquidated just because you want to preach and prove HODLing, trying not to feel odd.
So my question is:
~ Do people hodl just because others are HODLing?
I think most people feel most interested in investing in Bitcoin. And Bitcoin investors more or less want to hold for the future. And people believe that Bitcoin has the potential to reach a higher level in the future. That is why people are interested in holding.
~ Why do people hodl rather than sell and buy again when low
The Bitcoin market is seen to fluctuate a lot most of the time. Ups and downs are the religion of the crypto market. When the bitcoin market is bearish people buy more bitcoins instead of selling them. And there are some investors who buy when the price of Bitcoin falls and then sell when the market rises. But most investors buy bitcoins and hold them for the future rather than selling them. They believe that Bitcoin will grow a lot in the future and reach a good point.
~ What is your major reason for HODLing and how do your survive the bear market?
The current market condition is much worse than before. and surviving this bear market is very difficult for some investors. But those who are interested in holding have no headache to survive in the market. Investors think that the Bitcoin market will recover their losses sooner or later. and they invest for a long time and have a lot of patience. And the bitcoin market will grow like a bull run later in time, it is the opinion of various investors, so it is better to hold patiently.