Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
letteredhub
on 07/02/2024, 11:55:52 UTC
Imagine a $7k price rise into the current $43k+ price of bitcoin making it $50k, a recent holder will be triggered)tempted to jump into selling to make dollar profit forgetting that the idea was initially to hold for a long long period accumulatively without tampering regardless of  the market price, but to an earliest holder such a price increase is next to nothing or less because he had seen many higher price increases in the past than what he's getting now and to him the holding target continues even after the next ATH. It will take a lot of discipline and determination to hold irrespective of what come may in price for a recent holder to find himself in the lines of holding for long as expected.
Those who held Bitcoin all the way from $7k to $50k are probably lifetime holders. They would have concluded that no matter the price of Bitcoin, they will hold it. They would have overcame the temptation of taking profit that many investors usually do. That price range actually shows such person have seen two bull runs yet still holding so I don't think there is any basis for comparison between such old hands and some new investors that have nit witnessed any bull run.
Of course there is a basis, the only difference between the old holders than the recent new holders is just in the price at which they met bitcoin and nothing more. The spirit of thought to be drawn from the old holders by the recent new holders as a motivation to hold steadfast for long long should be that if the old holders could hold that long and had made this amount of profit assuming as at a time when bitcoin was 7k to now it's rally around $43k, this thought should be something for recent holders to go on with as new investors in the market believing that they too can become lifetime holders just like the earliest bitcoin holders till date. In any business a person engages in if he/she doesn't have a motivating factor it's very easy for the person to crash at the hit of any challenge, which is why in this case the old holders should be seen as a motivating factor to the recent new holders for them to be able to hold too for long because the huge profit from bitcoin is embedded in a long time holding.