/biz/ - Business & Finance

WHY SHOULD ONE "HODL" A PLUMMETING COIN

help me understand bros

fuck

cmmon bizzies

>>29203282
Noob here as well. The thought is you never know snything nor can hardly predict anything if you coukd predict everything you be a trillionaire. Fact is you dont know if something will pump the next min or dump the next min. They are saying hold because generslly thing have an upward trajectory especislly if its a legit investment. A few dips here and there, you can try and time it but who knows you miss the next pump

>>29203282
becuz u dumb nigger you'll never buy back in and when you do you will sell again at a loss you cuck, go back and fuck off

>>29203654
Thanks for the kind words, Anon.

Never selling

>>29203379
>WHY SHOULD ONE "HODL" A PLUMMETING COIN
Because it's going to go back up, and you don't know when it'll stop dropping and reverse. If you can time the market, great, but even people who bought the top of previous cycles of BTC did pretty well if they held.

>>29203607
Alright good answer, thanks man.

>>29203731
>but even people who bought the top of previous cycles of BTC did pretty well if they held.

Hmm, good point.

I mean BTC is pretty sure to go way up in years to come, it's probably the safest crypto to invest in long term, isn't it.

>>29203282
Well i mean if you have a crystal ball that can tell the future then by all means sell and buy back. Outside of that, swing trading is literally gambling

>>29203282
I was given a few hundred dollars a year ago and I simply HODL'd it and got an 11x

BECAUSE SWINGIES ARE AS DEGENERATE AS NIGGERS AND THEY WILL ALL GET THE ROPE
REEEEEEEEEEEEEEEEEEE

>>29203282
capital gains and taxes

>>29203869
Yeah I thought about the tax aspect as well. You gotta pay the taxes if you cash out.

>>29203783
You seem a little impatient too, friend - not exactly the most helpful quality when trying to keep your head while timing your buys and sells. All the more reason to simply hold.

it's so they hold all they way to the bottom and not realize any profit.
the mindset that allows for 7 figure gains also also allows for 6 figure losses.
that being said look at the chart now, 3 years of bear market has left only the most hardened holders at the top here. few are buying at market price, but no one not a single soul is market dumping. incredibly strong hands right now

>>29203836
>mfw dirty swingy
>mfw up 2100% on the year
lol keep hodling bro

Just hold forever and have an asset portfolio. The boomers do it all the time and they seem to be doing alright.

On both occasions the overwhelming consensus on /biz/ was to sell. It’s only gotten worse with time. The signal to noise ratio is at an all time low (except for GME) on this board.

>>29203282

Selling in parts while it is going down. Buy half when it stops falling. Buy in parts while it keeps growing.
Use Rsi, Macd, chop and supports. Dont listen to retards here.

I have half of earnings I would have this way compared to just hodling.

Next time I will do it correctly.

>>29204110
looking at the chart again that elon floor with limit buys at 29k/30k and then the two pumps after he revealed his positions really fucked over my swings.
even though grayscale put out the rumor nobody really bought the rumor; they bought the news; elon bought the 29k dip.

>>29203998
Yep, this is it. It’s moving to iron hands, putting it into cold storage to hold for eternity.

>>29203282
Yes you're absolutely right, just perfectly time the top and bottom and don't forget that in most jurisdictions you have to pay tax on short-term transactions. You're got it figured out, us idiots that accumulated 6 or 7 figures through hodling sure are retarded.

>>29204420
Easy, anon. I admitted in the OP that I'm a noob. I realize it's a noob question.

When link first broke 5$ and headed to 7 I saw a thread where some anon said he sold and was waiting for it to hit 5$ to buy back in

It never hit 5 again

>>29203731
I hodl‘d since the big crash 2018/2019.
Stil like 30% down. Was not into btc/eth tho, more because of a few little shit coins like VEN, XRP, XLM etc.

Next time I will switch to tether.

>>29203282

crypto dumps when you buy and pumps when you sell, this is a fundamental principle of the market

>>29203282
Every single person who has purchased Bitcoin before has profited, but ONLY if they held. Literally the ONLY way anyone has lost money in Bitcoin is if they sold at some point.

Just put that into perspective. If you purchased the absolute top of 3017 and just held, you would be in profit today. If you sold, especially at a loss, then you have forever sealed that loss into stone with money that will never come back. Someone else bought that bag from you, held, and made profit instead of you.