I'm curious as to what people here do when they see their coin skyrocket in value. Do you continue to hold?
I was heavily invested in XRP in late-October. I saw the coin go up to the high-3s (USD) probably 5x. I saw it do the same for 1.50 and the 2s probably another 5 to 10x.
I stupidly followed the advice here to hold and not sell. I was new to this scene. I thought that it will continue to go up no matter what. It has already hit the high-3s. It will definitely hit it again and stay there and then hit 10, maybe even 100$. After all, that's what holding is all about, right?
Let's say I had purchased 1000 XRP and sold it each time it had it hit 3.50 USD, and then bought back in when it hit 2 or mid 1.50s, I'd have a few thousand XRP. Had I done it every time it pumped, I'd have 10000+ XRP.
When I made my purchase, I had never invested a penny before. So this was all new to me.
I lost about 50% of USD investment but I now hold substantially more coins than I did when I made my initial purchases due to day and weekly trading.
I have learned that holding is not always the best advice. If you see your coin go up 20% then down 30% then you 40 and then down 20% or whatever amount, I recommend you should consider tethering to Ethereum or Bitcoin. Wait for your coin to drop and then buy back in.
Curious as to why people think holding is a good idea?
[link] [comments]
from Cryptocurrency news and discussions. https://ift.tt/2ue3LKL
No comments: