Bloody Market Sentiment
|10th Nov 22|18:00|
It's been a long time since we waited for the crypto market to recover, but the end of the year is quickly approaching and it doesn't appear to have any progress. The market always falls after a brief upswing. We don't even know when to dive in and out of it because it's too volatile right now, and the subsequent episodes are impossible to predict. And the majority of the time only gives us false hope and disappointment.
I often get tired of waiting, which leads to rash decisions and the selling of assets that I believe are no longer valuable. I've been telling myself that I'll wait for the perfect time before letting them go, but I'm not sure if that time has come or will still come. Maybe it did, but I didn't recognize it as such because I'm still anticipating, and hoping for better ones to come.
When the market turned green last weekend, I had the opportunity to sell some of my coins, but at low prices, because I didn't expect those coins to rise more. However, I was unable to sell the vast majority of the coins before the red market. When I felt it was appropriate to repurchase those I had sold, I placed orders that were eventually fulfilled. Then came the regrets as the market became even bloodier. I was disappointed that I wasn't able to sell most of my tokens before the red market, and I was able to purchase some at higher prices. Counting those that are supposed to profit from them, is enough to purchase more coins. Such a substantial amount of losses this time
I sold BCH at $121 too soon, but it eventually reached a high of $126. I bought it back at $115 too soon, and it dropped to $87.
I sold ETH too soon at $1540 and $1530, then it rose to nearly $1700. I was too confident that it wouldn't fall any lower and bought back too soon at $1485; unfortunately, it fell to $1073.
I sold BNB too soon at $300, but it quickly increased to nearly $400. I bought it back at $290 expecting it to recover quickly, but it ended up falling dramatically to $260.
WTF!! Such a mess. Such distressing.
Two years seems insufficient to learn the lessons and understand how the market works. Strategies always seem to fail. Or maybe I'm just too careless in making decisions because I'm being held by my emotions.
One of my significant losses has come from SmartBCH, specifically the $CATS token. I've been waiting for it to reach at least $0.0004 because I promised myself that if that happens, I'll sell all of my tokens. Unfortunately, it is only getting worse day by day. So, before the market goes even deeper, I sold half a million $CATS for only 0.95 BCH yesterday.
I know it was the worst decision I ever made because I can actually sell them back while the price was still high. I waited and hoped for it to recover, but to no avail. I'd rather lose some, than gain nothing. I just saved over half of it in case the price rises sooner or later. Patience is what I need in this situation. And trading the remaining ones is the only way for me to recoup all of my losses. There will be no holding this time, only trading. I don't want to expect anything more from it because even its project OASIS appears to be stagnant, and I'm not even sure if it still has NFT traders. Better projects are being opened by new chains, and investors are migrating.
My only hope now is LAW, and I know it will recover sooner or later because, of all SmartBCH projects, BlockNG has the potential to last the longest. As a result, its token has a chance to recover as well. JOY was already sold a week ago, and I have no regrets because I had already recouped my investment before. My investment in EBEN was also long ago recouped, so the remainder was simply saved for staking to accumulate small rewards. I'm just waiting for the BPAD, KONRA, and MIST to rise a little before selling them all. The rest were considered a loss of investments, and I no longer care about them.
I don't want to stress myself out in SmartBCH anymore, and I just want to get out of it as soon as possible so that I can focus on more important things. I've already lost a lot, and I don't want to lose any more.
They said that the best way to avoid the market's sudden swing is to hold as much as possible and simply wait for it to recover. The hell it is. The longer I kept some tokens, the lower their value became. Is it still worthwhile to hold? Maybe for some, but not for the long term. I guess short-term trading is the safest way at this time.
I plan to sell most of my assets and only concentrate on a few. I know it will be worthwhile to harvest in a few years from now, but definitely not those from SmartBCH, and I need to get rid of them (while keeping some) before things worsen.
This is just a pure rant about bloody market sentiment. Pardon me if you find it annoying. I know, you are, lol. Still, thanks for reading.
Today is my mother's birthday, I rather focus on her than stress myself in the crypto market. Have a nice eve, morning, and afternoon out there.
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Ah. So sorry Janey. That can be stressing and frustrating... That's how the market is. When you hold it, it falls...when you sell at a price, it goes higher and when you buy back, it falls deeper.