Don’t Hold Any Crypto for a Long Time but Why?
Holder Now | Risky Iteam | Mistake | I am sorry?
Many users on Twitter are saying that they will never sell bitcoin. But my concern is, can you always earn money by holding bitcoin over time?
Both in bull and bear markets, we notice this tendency to cling onto bitcoin and to do so firmly. But, have the folks who say this ever-sold bitcoin? The answer is yes, they have.
If you own bitcoin and never sell it, you are the most ignorant person on the planet. Let’s talk about why I’m saying this.
Asset
When we acquire an asset, we simply have one goal in mind: to sell it for a profit. There are some people in here who want to sell, but you will not sell since that is how you make money.
Holder Now
If you look at the bitcoin chart, you will notice that anyone who invested in bitcoin or any other currency in 2020 are currently losing money. They may not have lost money today if they had sold while the market was rising. Seeing this, we might conclude that if we own cryptocurrency, we must book profits as soon as the price rises.
Zero
If you intend to hold for two or five years, it is not necessary that you will always be profitable. Crypto might also be zero. Never become emotionally connected to any risky coins or stock. You should understand the goal of your investment if you want to profit from it.
Trending
We use cryptocurrency for staking and lending in order to receive a percentage return, as seen by the state of BlockFi, Celsius, and FTX. If you invest in staking and lending to get a return, your cryptocurrency may go. So, this option is marginally superior for a three-month bull market. Buying and selling is the best solution.
Risky Iteam
What happens if you lose your money when staking, lending, or borrowing? Don’t risk losing all of your valuable coins in the pursuit of 2%, 3%, or 5% returns. To obtain this sort of reward, you must recognise that you are incurring a significant risk in exchange for a relatively low percentage return. You may easily generate 10% profit on a single trade.
However, you have locked your cryptocurrency in taking rewards such as staking, which may cause a liquidity issue. Any project, including Centralize Exchange, may create problems if something goes wrong, and you won’t be able to sell it.
Invest in any coin and if you make a 2x profit, withdraw your money. We’ve come to the crypto market to make money. We are not here to donate any cryptocurrency. You haven’t brought much money with you to give.
Enjoy
We all have just one life, thus we want to generate money by selling and enjoy it. There is no purpose in investing if we have not sold in this life since we cannot come down from above. You can’t even tell people you have so many bitcoins if you become a ghost.
Mistake
You might be surprised to learn that some people intend to sell when the market declines but do not prepare to sell while the market is rising. Never make this mistake. You bought bitcoin for $40000, sold it for $28000, didn’t sell it, and are now thinking about selling.
Blindly
Whenever there is an opportunity to profit, make profit and run. We’ve seen so many large-scale frauds and bankruptcies that anything may happen at any time. It has also gotten harder to trust people in crypto since everyone appears to be loyal and honest. SBF appeared to be a small adorable, and loyal individual. So, we don’t have to blindly believe CZ Binance either.
Even on the exchange, numerous coins appear on the launchpad to be launched. This is a wild speculation, but the exchange may be engaging in insider trading. Don’t put your faith in them. USDT is also under investigation. Big people make their money; therefore, you should love your money as well.
I am sorry
If you see SBF, they will tweet I am sorry, I am sorry. What would happen if this man expressed regret after blowing billions of dollars? What about the ones who had spent their entire life savings simply to receive apologize?
It is preferable to make less profit than more profit and greater loss. Dogecoin and Shiba Inu are among the top 100 crypto coins today. It simply indicates that there are still some such things within the cryptocurrency that might cause a major storm.
I’m not mentioning all of this to scare you. I’m here to let you know how crucial it is that you understand crypto.
USDT
If something goes wrong with USDT tomorrow, the entire market will collapse. Every USDT is tied to one USD, therefore why are they now claiming that we have commercial paper and collateral? Staying in stable coin is indeed dangerous. Stable coin buddies are not decentralized; they are centralized. They have so much power that they can even freeze the stable coin, regardless of where you keep it.
Friends, there has been fake pumping. Bitcoin must reach $10,000 in order for this fake pump to be digested, but it can also fall below $10,000.
The only thing we need to remember is to change it to fiat currency as soon as we make a profit. Don’t put your trust in anyone until the bear market is over.
Falling night tears something or other.
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Disclaimer
This is not a Financial Advice. This article is meant only for educational purpose. I am just sharing my thoughts and analysis based on my many years of experience.
