⭐ Merited by JayJuanGee (1)
To convince myself to keep HODLing during "testy" market moments is to keep telling myself that the Bitcoins I HODL in cold storage is a kind of time deposit placed in a secret Swiss banking account that cannot be touched until the right moment. That moment is when it's trading in a six digit price valuation+. That's why I don't have the same complaints when fees surge, because as a "secret Swiss banking account", you don't use it to pay for coffee transactions. I believe many of you don't want to be like the Bitcoin Pizza Guy. That was probably the worst trading decision of his life.
Good strategy, I guess we have to sort of re-invent everything on how we are going to see our Bitcoin and why we are holding it for a very long time. Not just for this testy market moments, but perhaps the end game of Bitcoin to us, because we will feel and be affected mentality, so we need to be strong and think outside of the box on how we are going to HODL for a long time.
For me, just take it slow in the beginning, I might set a personal record to hold, let's say short term is 10 weeks. And if I can brutally manage that then I go for 26 weeks, at least half a year and see how it goes to me. Then why not go for 52 weeks? If I can do 26 then maybe another half a week can be done? And that's how I started though. Now if ever I see the market down, I'm not emotionally affected and just like what others do, just continue to accumulate sats in whatever manner we can and we will be good in the end.
.Something is wrong with your strategy since you are just "hoping" that you can hold longer and longer and longer, and so you seem to be doing something wrong.. .like you are gambling.. and you are so nervous to lock in your profits in dollars because you are worried about a correction..
I get the sense that you might be overly investing.. and that is what is causing you to feel so nervous but I doubt that I know enough information.
I don't see it as gambling though, I see it as a test to myself, on how tough I will be on this kind of games. So I just started with a short term goal and then work my way up to a year and then now I'm confident of my capacity and mental strength to continue to accumulate although there were moments last year wherein I need to sell some stash because of the death of my sister.
Nevertheless, I was not deter, after that I continue to have plans and execute my strategy and I would say that I'm doing fairly good right or at least have the confidence now to be a bitcoin HODLer.
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Thanks for this input, I will look into it as well and see how I can incorporate this strategy or even tweak it to suit my investment plan.