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WHAT IS THE RIGHT WAY TO HODL?

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@joseph23
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Among the several ways to make profits from cryptocurrency is HODL ( Hold on for dear life) and many people have embraced it because it has been profitable. In this article, I want to share my views about HODL cryptos especially for a long-term purpose, but before I proceed, I want to state that the information you are about to read is my personal view and you are not bound to accept it. Ensure to do your research and feel free to criticize or affirm.

Let us start by considering these two scenarios;

Investor M bought Bitcoin in 2020 when the price of bitcoin was at $20,000 and held it till early March 2021 when the price of Bitcoin hit $60,000. He sold his Bitcoin and bought back the same quantity he sold with an amount lower than the amount he sold them for when the price of Bitcoin dropped to $40,000 and he is still hodl up till now. He used the remaining amount after buying back the earlier sold Bitcoin to invest in other crypto projects.

Investor N Bought the same amount of Bitcoin at the same time as Investor M. Because he believed in the future of Bitcoin, he refused to sell his Bitcoin even when Bitcoin reached an all-time high early this year. He is still hodl up till now.

Among these two individuals, who would you say is a good Hodler?. I will love to read your opinion in my comment section, but let me kick up the discussion.

Cryptocurrency is volatile and it is the volatility that makes it profitable, however, it is also a risk to be considered when dealing with crypto. It is good to be a good believer in a crypto project and to showcase your love for the project by hodl the project token for long, but should it prevent you from taking away profits when there is a need?. NO, there is no guarantee that a project will continue in the uptrend direction for long, correction is certainly going to come in, thus there is a need to prepare for such correction.
In my case, I will certainly sell 50% of my Hodl when there is a huge pump in any project I believe in. The remaining 50% will be a countermeasure should the coin continue to rise. The 50% sell will enable me to buy back more than I sold should the price of the token dip. Having an exit price doesn't necessarily make you a trader when you have Hodl in mind, it makes you a wise Hodler if you ask me 😏.

In conclusion, it is good to believe in the long-term Hodl of token but if we can see a huge ROI on the token, we should consider the volatile nature of the crypto market and make a decision that will bring profit to us while hoping for better days. As I said, this is just my opinion and you are not bound to accept it, DYOR.

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