That All Time High Regretful Memories

1 mo
LeoFinance
3 Min Read
603 words

I feel like writing a post about diaries of a crypto hodler, a post series edition that gives me opportunity to just rant about the bear market. I know we have the Leofinance community for that, but I was thinking of a special series edition, this way I get connected to other people with the same feeling and we talk about it. The crypto bear market is a phase and some crypto light Diamond hands need to be reassured that this is just a phase. I call them light Diamond hands because, they are currently stuck between ”keep hodling” or ”Sell”. Well, I will like to reassure them that it’s normal, I have been in that position, so I totally understand how they feel.

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Most of them feel this way because they probably haven’t experienced a bear market before. I started investing in crypto when the 2018 bear market started, so I wasn’t caught in the euphoric pump. But some people are stuck in the euphoric all time high. What do I mean by this, imagine investing in crypto and it pumped to an all time high, but you didn’t take profit, why? Because no one knows how the market will move, everyone is investing hoping for the best. So some people didn’t take profit, did you take profit? I didn’t take profit too, we are in this together, am I regretting I didn’t take profit? Some times? Because when I calculate my assets and the value they are worth, I still use the all time high value to calculate. Is it just me or you do same?

Stuck In All Time High Euphoria

During the last Bull run, lots of people were caught in the euphoria of buying assets to make money, theses assets went high, but they didn’t take profit, they love the feeling of just coming to their wallets and seeing the value higher. The Bull run makes making money on crypto kinda of easy. You can be 10X richer during the Bull run, you can be so overwhelmed to the extent that you stop feeling like taking profit.

You feel that taking profit will make you either spend the money or you might not be lucky enough to have another opportunity. This then makes some people to keep hodling even though they are in profit. It becomes way harder for some people because they were one of the pioneers of the token or coin. They feel they owe the project some great amount of loyalty. It’s like watching a baby grow up.

If you are experiencing this for the first time, well it’s time to learn better. Just like when I bought XRP at $0.5 and didn’t sell at $3. Now I am regretting, this has given me the opportunity to fInd other solutions. Most of the times I don’t take profit, it’s because I am stuck in the constant idea of not trying to regret i sold too early. Imagine buying a token at $1 then selling at $3 then it pumps to $10 afterwords. How do you think you will feel? This is the phobia that most of holders have, they don’t have choice but to keep holding.

In the next Bull run, I am going to try my best to take profit, may be I will take 1% profit of what ever pump price the token or coin pumps, this way, it gives me better taking profit position so I don’t take profit too early or too late. So I will dollar cost average myself out of the token.

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What you mention in this post is actually a common situation that we experience (or have experienced at some point), all traders and investors in the crypto market. The truth is that it is not easy to deal with sustained declines in cryptocurrency prices, especially when you had a long time to make profits at high price levels.

Manage our euphoria and greed when the price of crypto assets is in an uptrend (to make a profit when possible); and eliminate excessive fear, when the market is in a downtrend, certainly it is an art that all traders and investors must learn to be successful in what we do. It is something that we must learn, and never ever forget, so as not to repeat the same mistakes over and over again during the bull and bear cycles.

Very interesting post. Thanks for sharing. Greetings.

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1

Thanks a lot for reading, we are learning one experience at a time, hopefully I do a better job in the next Bull run.

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1 mo

This is so true!

When you're caught in the euphoria of the bull run, indecision steps in:

"What about if I take profit and the market goes x5 again. No, no, I don't want to miss the NEXT PUMP. Let me just keep it for a while."

Interjection: who told you there will be a next pump soon?

Most of the times, when I experience this, before I wake up the next day, the market has taken a drastic heartbreaking movement downwards.

At this time, you'll say:

"Why didn't I take that profit then, let me just take small so that I won't lost it all. Immediately you take out your profit, the market will run back up."

On few occasions, the market doesn't respect T.A 😑

It just makes one confused 😕

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1

God bless you for that, I have said this a lot of times, the market doesn’t care about Technical analysis, fundamental analysis is the key.

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