Some of the Trading/Holding decisions I failed to make wisely and my learning.

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Avatar for Iamjohn
2 years ago
Topics: BTC, Holding, Buying, Trading, Crypto, ...

I had 2 BTC.

Can you believe this?

Yes, almost two BTC. Some I sold in December 2018 and hold the rest. Then when the price start to grow a little I sold 95% of my holding in mid-2020.

Nope, it doesn't make me feel frustrated. But sure, I can be wiser, I could hold it for a little longer. And maybe I would be a millionaire by now.

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What made me sell my BTC in 2018?

Back in 2018 December, the price was sitting on the $3000 line for too long. I lost my hope, I needed some money.

I have to approve that the money is an excuse here. I could hold it for longer and arrange money from other sources.

  • This was my first mistake to not have faith and patience.

  • My second mistake was I didn't invest the money in other cryptos. I cash out the whole amount.

If I didn't do those two things will be different.

What mistake I make again in 2020?

When in 2020 the price of BTC was raising I thought this is the perfect time to withdraw some money. Like when I had them it was around $3000 and when I decided to sell them it became around $10000.

That was a good deal if I compare. But now we all know the math could be different if I can hold for a little too long.

  • BTC was steady at around $10000 for many months so my thought was this will be the steady price. I sold my 95% asset in June 2020.

  • If I could wait a few more months then things would be different.

My learning from these two mistakes.

  • Hold Hold Hold. Don't lose faith, at least on BTC.

  • Research, analyze the market, see the average holding trend. Study more, believe in the prediction.

  • More importantly don't sell everything like me, 95%. If you need emergency money sell not more than 50%.

  • And if possible invest the money in other cryptos if you don't believe in whatever crypto you are investing.

In conclusion, I would say, make your decision wisely if you are selling. Crypto is the future. I will say it again, crypto is the future. So make your treading/holding/selling/investing decision wisely. And you will be no loser.

Thanks for reading my post.

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Avatar for Iamjohn
2 years ago
Topics: BTC, Holding, Buying, Trading, Crypto, ...

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