Hi Everyone,
BTC has Hit a new All Time high ATH. I Thought I'd share my thoughts from beginners perspective and ask what experiencesd members think. As BTC has hit an ATH That becomes a tremendous news For the early Hodlers and investors. But what about The Newbies?
In these situations most Newbies become prey of FOMO and lose most of their capital. They think it has Hit an ATH and will go for a Pullback and they Short. But it continues to Rise higher.
So I want to know how to react to this market and what do Hodlers do in these situations. Do they Sell, Hold or Buy More. How can we Newbies save ourselves from FOMO in this situation.
Will be really thankful for your advices.
Be a strong Bitcoin holder and commit to your long-term goals. If you know the Bitcoin price will continue to rise, every dip, panic, and so on will strengthen you because you believe the price will eventually rise again, and continue to rise, regardless of Bitcoin's track record.
However, I understand that good advice sometimes doesn't prevent beginners from panicking and selling when the Bitcoin price rises or reaches a new ATH. That advice is what makes them strong and will make them better. But at least you trusted the advice of those with experience because it was good advice, and at least you didn't sell your Bitcoin at a loss even though you didn't have a strong hand. When you try again, you'll put that advice into practice because there's no limit to investing in Bitcoin even when the price is high, and you'll still profit if your goal is long-term.
You wont be called a holder if you are that aiming on making up some short term approach on selling out your coins on which simply means that your entry and exits wont matter up that much because if we do speak about being a holder then this would be talking about years. Somehow its not bad to consider out on making some buybacks on pullbacks on which utilizing those movements to maximize profitability on which its a normal approach. If you are a noob and doesnt have much idea about this market behaves and sees out that your invested money on Bitcoin do make out some profits now, then it will be that up to you whether you would be holding your position or would be securing out profits, but since we are talking about being a holder then this do talks specifically about holding up for some long months or years before selling out. What matter the most here is that you should be setting out those taking profit levels or specific % gains with your investment.