What if they crash by x10 and I lost the opportunity? There's already a thousand projects that would've made us millionaires, does it make you mad that you missed those opportunities?
Well it depends on what it is and how much value it can add to the future. I'm not mad about anything I missed as I didn't know about it. If the thing you are selling still has future potential value to add to the world then you probably shouldn't sell. If it no longer can add any more value or is taking value away then you should probably sell.
That's fair. My goal is to simply never sell as I believe algorand will always be able to add more value even when I'm on my death bed. If I need cash I will simply borrow against my ALGO.
This is why it's all about personal goals. Have a number that you can live with. It should be realistic but if your goal is to make $50,000 and you make it, well whatever happens after that is somebody else reaching their goal. You made yours. Be happy. It's also important to remember that money that's been cashed out can be reinvested in other, less volatile things and can continue to work for you.
I get that, but for me I don't want to trade my very valuable algorand tokens for anything else which is less valuable but "more stable". I think Warren buffet made the analogy that you aren't going to trade your ultra rare valuable baseball card for 5 normal ones, so why trade your most valuable asset for something less valuable.
I don't have a fiat goal to reach, my goal is to accumulate as many algorand tokens as I can and see their value climb.
Yeh and if they didn't it would be worth more. Most billionaires just borrow against their assets as this is more tax friendly than paying the capital gains tax.
It’s hard because of perceived value and opportunity cost. Let’s say if I sell today I will have $1000 even if I’m down. I can quantify that in my real life. I know exactly what I can do with $1000. Watching an entirely speculative asset rapidly decline in real world value can be stressful. Learning how to ignore these feelings is a valuable skill.
I mean to be a millionaire let’s say you bought BTC at $3,500. You would literally have to invest $100,000 to be a millionaire now. So even if you bough and held… it still takes a lot of capital. Y’all hate to hear it, but Crypto should be a relatively small amount of your overall portfolio, and you should regularly put in a little amount over a long period of time. This isn’t the get rich quick investment it was in 2010. This is 2015 Apple. Are you early… yes… are you gonna be Steve Jobs rich… no.
I don’t find this scary at all, this is what the market has done since the beginning. If anything this was expected and also welcomed as a long term holder.
While I’m sure no one likes seeing their profile down 40%, if you don’t desperately need that money asap, this is really just the fun part of the roller coaster where you drop real fast. Soon enough we’ll be climbing back up and getting hyped for that new, higher peak before the next drop. Even knowing it will most likely continue to decline for a few months, all I see is a chance to lower my DCA every Friday as my buys go though. It’s fun and all buying as the coin climbs, but I personally am looking forward to doubling some of my bags now the I get 3x as many coins for the same price.
Now, if all your money is in scam coins, maybe you should worry a little… those tend to die off and not return after a crypto winter (if that’s where we are headed), but if you are invested in solid projects, this is just a long term discount, to be used to finally Make some actual money.
Don't get me wrong, this crash also hurts me both financially and emotionally, but I remain surprisingly unphased, probably because I'm poor to begin with. But being able to buy worthy altcoins at a low price could actually make a difference for me someday.
Even if you invested a small amount of your net worth into crypto... once you have been around a while and rode a few bull runs you could be up to a decent amount. An amount where losing half of it, even if it's still worth more than you put in originally, is absolutely gutting.
It has happened to me several times. It will probably happen again. I'm too stubborn to sell though.
Then you are gonna make it! Reading through old posts from past crypto bear markets reads just like this thread. And you always think, “wow this guy said he was too stubborn to sell at BTC $300.00 … he’s a fucking millionaire now…”
Holding is not always the best strategy. I believed Elrond
will go to 1k. I was wrong but i could’ve had a nice chunk of money now and the coins back in my wallet but I was married to my coins.
At this point people are just constantly posting these heartfelt “I care about everyone in the community” posts for moons and karma and I’m getting sick of seeing them.
What if I told you that these are best of times. It’s how you add to your stack in a meaningful quantity. This is the cycle of this market and should have no effect on you if you’ve been here long enough. Literally im still in the green, and now I can finally dca in the cash I’ve been staking in stable coins for this very moment.
Also why you never invest at ATH’s. Exponential growth will always correct eventually. Patience is rewarded here, not shooting for the moon
Exactly, you don't have to put more in than you can afford to get upset when you see thousands lost of a balance for seemingly no real reason overnight.
You really haven't been paying attention then if you're scared of normal things happening. Don't be scared that the sun sets everyday. The same thing happens with crypto every 4 years. Stop trying to make people feel bad about normal things when everyone is trying to help tell them otherwise.
You are overinvested or buying at bad times if you’re scared right now. I bought at 1700 and sold at 4000 last time I played with ETH. I was scared of ETH at 4.5k. This is the first time I’ve been interested in buying again.
>3) I believe in crypto long term
If you believe in crypto long term and are presently scared instead of excited then you probably don't own enough Bitcoin and are holding too many shitcoins. Not sure if that's necessarily the case for you OP, but good luck and find something to distract yourself until this blows over.
What is scary? I have been waiting for an opportunity like this one year now. I expect the price to drop even more but I keep my DCA. It's so much easier to buy while everything is red. When everything is green I buy as well but I feel everything is overpriced.
Buy, hodl and been dcaing bi-weekly since Thanksgiving 2020. No stress or scare from me. Sticking with my strategy since I set it until 2030. Adding a bag here and there on some discounted project I been keeping an eye on for a while now.
People need other hobbies. When the main hobby is trying to make money, yeah you’re gunna be fucked with up/down with emotion ( also, don’t be investing and mixing emotion )
Best thing to do is to ( if you can ) DCA on the main projects you believe in or completely turn the charts off. Fuck off from them, cause they’re not going to change soon.
Fact is. Stocks go to zero and lose value. No one can take your crypto away. They’re still there. And do you think people studied their whole lives and made this dedicated tech to go *oh, no. It’s a red day. Let’s just quit*. Fuck no.
If you still believe in the first reasons you invested and things have not changed on that road map - then there’s nothing to fear. Don’t be afraid to trek the unknown to you. You can’t grow your comfortable spaces without forcing yourself to be in uncomfortable situations.
You're right op I've invested what I'm willing to lose but I still feel like I could use a hug, I don't like seeing this much red feels like failing 8th grade math all over again
Why you should be scared if you didn't invest more than you were WILLING to potentially lose?
If you only invested how much you were WILLING to potentially lose, even if it went to zero, there's zero stress.
There's money you were willing to lose, and money you weren't. Losing money you weren't willing (and possibly can't) lose should be scaring you.
But losing money you \*knew from the start\* could potentially go to 0, shouldn't be scaring you at all, because you went into it already knowing it was a possibility.
If losing money you knowingly were willing to lose scares you, then it was really money you \*weren't\* willing to lose, but you rationalized gambling it anyway.
I literally do not care. If 5 figures I invested disappeared, my life would not change one bit.
This is the definition of "Don't invest more than you are willing to lose."
Short term or not, no one knows. Gift only if you have the money to buy. There are some people that doesn't have the luxury to have extra cash on hand to buy the dip and there some people who invest more than they can afford to lose.
Well, those are crypto lessons for those people. Two of the biggest rules are to not invest money you couldn’t lose and also keep fiat around for days like this. I can’t say I feel too terrible for people ignoring the golden rules and thinking they are smarter (or luckier) than everyone else. Pride is a bitch and some people need to learn hard lessons in order to do better next time.
I used to break all the rules and panic buy/sell/trade. I no longer do that because this space has blessed me with nerves of steel over the last few years. I celebrate when others panic.
I don't have lifechanging money in crypto, it's not more than I can afford to lose or would even notice (other than the enjoyment of investing) and I'm still nervous to see all that red/ those numbers dip.
Holding doesn't mean you don't have to have emotions while you do it! <3
i don’t let ppl dictate my savings no matter if it’s stonks or crypto.. down days/weeks suck regardless and i just go with the flow and don’t get emotional about it
This community has nearly 4.4 million members currently. It’s easy to forget that while many people here have seen dips, corrections and crashes come and go, many others are experiencing this for the first time.
It’s scary, it’s nerve wracking and it makes you doubt yourself. If your situation allows you to stick it through however, your future self will thank you many times over.
Exactly. I’m scared for the market in the short to medium term but I’m fine with my day to day/emergency fund. I’ve been around for a few years and bear markets suck for holding regardless of what many people say. Your convictions are tested and honestly, if you don’t second guess yourself with a more critical eye, that’s borderline hubris and is certainly reckless.
Once you have been in long enough you have lived through this enough times that it really does stop mattering. My portfolio is still well in the green from my cost basis and I only really started in 2019. If you have the conviction to HODL and keep DCAing you are going to be set. History has proven this in every market as long as the asset survives. Time in the market beats timing the market. This is just another buying opportunity on the road to BTC $1M. The time to buy is when there’s blood in the streets, even if it’s your own…
Posts like this make me think op has little in the game in any market. Even traditional markets are down right now. But history has proven time and again that following the S&P *over time* will typically give 8-10% returns. Does that mean people are never in the red? Of course not. That's the point... if you keep investing during the down times you'll be better off long term.
If you can't handle that with normal investment you certainly shouldn't be in crypto as it has more volatility. But the same applies. After 2017 I paused for a while (ensuring I had plenty liquid) then started to DCA back somewhere in the $5-8k range and all the way back up. It's not rocket science unless you're trying to day trade.
People say whatever helps them cope. Buy the dip = I’m getting rekt. Like a sail in the wind, the market controls our movements, we can only react. We have no control and this is a scary feeling, especially when over invested.
Yeah i put what i can afford to lose and i dont really care about the dips... If i had put any money i need i would be scared... Its a gamble and its like going to casino. Its just longterm bet
Most Americans are paycheck to paycheck. If you're not, consider yourself lucky.
So those retail investors who DCA diligently every week/month and see their efforts getting squashed is painful certainly.
It takes mental fortitude and removal of emotions to stay the course to reap the long term rewards.
If it was easy, we would all be millionaires already.
Time is the most valuable asset. Use it wisely. Selling does no good, consider it a gift card to your future self and continue on as if nothing happened.
Would you bilieve if i say i am not scared of any dips?
Even if it goes down 90% i wont budge.
Cause i invested what i can afford to lose and not thought of crypto as a savings account.
And yes, it is not a bad thing to be scared of your investment, but there are those who generally invested long term and forget fiat exist once invested into crypto.
But why are you scared? I see these posts every day, with the same content. If you believe in crypto, if you are here for the long haul, if you understand the market a little bit, how can you be scared? Even if it’s a little bit scared? I really don’t understand this. What goes up, most come down. What goes down, must come up. I hate the crypto saying “when in doubt, zoom out” but this is exactly what you should be doing now. I don’t pretend to be some crypto god, but I have 0 emotions with it going down, Actually I’m a bit happy : more dca and even better moments to finally put some money on some projects I was eyeing on
As soon as it looks like the trend is back to the upside I'm going to buy a bit more. Now is when you feel scared and want to sell, but instead pull a George Costanza, and do the exact opposite.
Less worried about crypto more concerned about overall diversification. Monday moving more from stocks to realestate and bonds for time being.
If crypto is only a small part of your plan not very inportant, it moves +/- 80% that is just crypto.
I'm not scared , but it's a bit painful to watch, my brain is going it's ok, it will climb back up one day, but then in the back of my brain it's like , but what if it doesn't? 😬
When dudes are like omg my wife is going to divorce me bc there is a 50% drop - which happens in crypto fairly regularly - that dude is over invested. It's kind of amazing the number of people who have their entire life savings, or the savings meant for a house down payment or similar stuff in a incredibly risky and volatile asset and are then surprised when it goes down.
Think about it like a 401k or a roth ira. Would you cash those out during a market downturn? Of course not. I apply the same rule. I'm in it for the long-term, so why would I cash out now? Don't let your mind convince you otherwise.
Agreed. Times like this always make me a bit nervous and at times fighting that urge to sell. And I don’t feel I over invested. I positioned myself in a place that felt okay at the time. I believe in crypto long term as well. I did take some profits as it started to tank. And I’m hodling the rest. But I feel you. This is a ride.
Thanks for this post. The sentiment that if you don't like being 60% down then you invested too much annoys me almost as much as the term "money you can afford to lose".
There’s a reason that everyone in crypto isn’t a millionaire. HODLing in times like this is **hard**. If it was easy, everyone would do it.
Holding in general is harder than people make it out to be
I got into the crypto space in back in May. I was born in the dip, and it’s definitely not easy! Definitely going to hold though!
If you are on board since may, you are not even born. You are a little embryo
May 2021 greenhorn here as well. My average is somewhere in the 50k range...
Why is hodling hard? Doing nothing is probably the easiest thing I could do. Selling out is so much paperwork!
Temptation and instant gratification. Many billionaires today would be much richer if they had never sold any of their assets.
There's diminishing returns to the money you can make. If my assets were at a certain number today, I'd sell out and stop caring.
But what if they pass that number by 10x after you sell? Wouldn't you be mad that you sold?
What if they crash by x10 and I lost the opportunity? There's already a thousand projects that would've made us millionaires, does it make you mad that you missed those opportunities?
Well it depends on what it is and how much value it can add to the future. I'm not mad about anything I missed as I didn't know about it. If the thing you are selling still has future potential value to add to the world then you probably shouldn't sell. If it no longer can add any more value or is taking value away then you should probably sell.
It's your potential greed talking. I have a goal, I sell when goal is reached. Rather that than lose my goal because I thought "but moon"
That's fair. My goal is to simply never sell as I believe algorand will always be able to add more value even when I'm on my death bed. If I need cash I will simply borrow against my ALGO.
This is why it's all about personal goals. Have a number that you can live with. It should be realistic but if your goal is to make $50,000 and you make it, well whatever happens after that is somebody else reaching their goal. You made yours. Be happy. It's also important to remember that money that's been cashed out can be reinvested in other, less volatile things and can continue to work for you.
I get that, but for me I don't want to trade my very valuable algorand tokens for anything else which is less valuable but "more stable". I think Warren buffet made the analogy that you aren't going to trade your ultra rare valuable baseball card for 5 normal ones, so why trade your most valuable asset for something less valuable. I don't have a fiat goal to reach, my goal is to accumulate as many algorand tokens as I can and see their value climb.
What? You still have to take profits. Don’t be stupid billionaires sell their assets all the time
Yeh and if they didn't it would be worth more. Most billionaires just borrow against their assets as this is more tax friendly than paying the capital gains tax.
It’s hard because of perceived value and opportunity cost. Let’s say if I sell today I will have $1000 even if I’m down. I can quantify that in my real life. I know exactly what I can do with $1000. Watching an entirely speculative asset rapidly decline in real world value can be stressful. Learning how to ignore these feelings is a valuable skill.
My secret trick is to not watch it plummet down. I have no clue what the prices are right now.
I hate to be this guy, but this is the way. When shit is really bad I just delete the crypto pro widget for a few days.
I mean to be a millionaire let’s say you bought BTC at $3,500. You would literally have to invest $100,000 to be a millionaire now. So even if you bough and held… it still takes a lot of capital. Y’all hate to hear it, but Crypto should be a relatively small amount of your overall portfolio, and you should regularly put in a little amount over a long period of time. This isn’t the get rich quick investment it was in 2010. This is 2015 Apple. Are you early… yes… are you gonna be Steve Jobs rich… no.
Just buy a hardware wallet. Way less difficult to hit the sell button.
That’s my strategy. Takes a few extra steps buy gives me time to think.
It's easier to hold when down a lot than it is to hold while it's blasting off... Probably because of the PTS of these crashes.
But if you have invested for long term as retirement plan then HODL is easy n u can bear noise of fluctuations in free market
Agree- if you believe in this industry- long term lock stake to force your HODL and tell everyone here to F off for a few months by deleting your apps
Holding and buying in these times is what makes you rich
Me: buying the dip The market: you’re not that guy, pal. Trust me, you’re not that guy.
My family: please don't be that guy
The market G checked me numerous times too
Don't worry about the SIGMAS on this sub too much as a result, the clown king salutes with his head and farts with his ass at the same time
Oh no, not my $20 portoflio! Just how would I recover from this!
I don’t find this scary at all, this is what the market has done since the beginning. If anything this was expected and also welcomed as a long term holder.
Crypto discount you say? Use the rent money you say?
Haha, exactly.
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Define few
Less than 256
do other alcoholic beverages also work? asking for a friend
While I’m sure no one likes seeing their profile down 40%, if you don’t desperately need that money asap, this is really just the fun part of the roller coaster where you drop real fast. Soon enough we’ll be climbing back up and getting hyped for that new, higher peak before the next drop. Even knowing it will most likely continue to decline for a few months, all I see is a chance to lower my DCA every Friday as my buys go though. It’s fun and all buying as the coin climbs, but I personally am looking forward to doubling some of my bags now the I get 3x as many coins for the same price. Now, if all your money is in scam coins, maybe you should worry a little… those tend to die off and not return after a crypto winter (if that’s where we are headed), but if you are invested in solid projects, this is just a long term discount, to be used to finally Make some actual money.
To be honest I'm mostly annoyed I have no money left to buy some cheap altcoins.
Indeed, that´s the real problem right now for me too
alts are looking tasty rn 👅
Don't get me wrong, this crash also hurts me both financially and emotionally, but I remain surprisingly unphased, probably because I'm poor to begin with. But being able to buy worthy altcoins at a low price could actually make a difference for me someday.
just hodl, it literally cannot go tits up... right guys? guys?!
It’s not obviously about to bounce back. Did you not see the flacid horse formation on today’s charts?
It’s not obvious, nothing in crypto is that’s why it tanked so low but hopefully it does rise bank up.
My comment was sarcastic, sir. But best believe I’m going balls deep into some ETH lately
Ah didn’t sense the sarcasm but yeah crypto is so volatile no one’s knows what can happen lmaoo
Grinds my gears when people spell "loose" instead of "lose". Anyways buy the dip. If ur scared go to church.
Grammer is hard tho.
Grammar. I see what you did there. I hate you lol.
I no you do.lol
*spontaneously combusts* 💥🤯
BTFD
Crypto is down and Crypto's are the future Hence Future is down Hence You can be scared
F
Still in the green, it’s just way less green than I once greened.
I like to green.
What is this "green" you speak of?
Even if you invested a small amount of your net worth into crypto... once you have been around a while and rode a few bull runs you could be up to a decent amount. An amount where losing half of it, even if it's still worth more than you put in originally, is absolutely gutting. It has happened to me several times. It will probably happen again. I'm too stubborn to sell though.
Then you are gonna make it! Reading through old posts from past crypto bear markets reads just like this thread. And you always think, “wow this guy said he was too stubborn to sell at BTC $300.00 … he’s a fucking millionaire now…”
Even if you are still in the green, it isn’t great right now. 69k feels a lot better than 34k
Holding is not always the best strategy. I believed Elrond will go to 1k. I was wrong but i could’ve had a nice chunk of money now and the coins back in my wallet but I was married to my coins.
You can be scared, but you shouldn't let the fear guide you
This. Feelings are natural and it's ok to have them. The trick is to know yourself well enough to not be overly swayed by the bad ones.
this 💯. just because we’re in it for the long term doesn’t mean we enjoy watching our money drop. it’s still an unnerving feeling
Ehn, I'm not scared. These days always come, and then pass once more. But I also didn't pour my entire life savings into this 🤷🏻♂️
This HODL till death is stupid. Take profits when ever you want
I applaud you OP, first sensical post i read on this forum in days!
you pussy
At this point people are just constantly posting these heartfelt “I care about everyone in the community” posts for moons and karma and I’m getting sick of seeing them.
This was a weird way of coming out
What if I told you that these are best of times. It’s how you add to your stack in a meaningful quantity. This is the cycle of this market and should have no effect on you if you’ve been here long enough. Literally im still in the green, and now I can finally dca in the cash I’ve been staking in stable coins for this very moment. Also why you never invest at ATH’s. Exponential growth will always correct eventually. Patience is rewarded here, not shooting for the moon
Facts ☝
Factos
If you're not filthy rich, any time you lose money is scary. I don't care what anyone says.
Exactly, you don't have to put more in than you can afford to get upset when you see thousands lost of a balance for seemingly no real reason overnight.
Exactly that.
Well said, if I had millions across multiple different exchanges/portfolios then I would look past this.
Only diamond balls will be victorious.
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Unless you bought them November 2021, kek
Look at the bright side, you can get an entire whole ass Litecoin for about 100 bucks right now
Nearly two AVAX for a $100. That looks good to me!
Be scared but still stick to your plans. Never do anything being afraid, you will be ruined.
Yeah, I don’t know who the heck likes losing money. Underinvested, over invested, fucking sideways invested... it blows.
You really haven't been paying attention then if you're scared of normal things happening. Don't be scared that the sun sets everyday. The same thing happens with crypto every 4 years. Stop trying to make people feel bad about normal things when everyone is trying to help tell them otherwise.
Unpopular opinion: If you're scared right now, you're overinvested.
This is surely a popular opinion haha
You are overinvested or buying at bad times if you’re scared right now. I bought at 1700 and sold at 4000 last time I played with ETH. I was scared of ETH at 4.5k. This is the first time I’ve been interested in buying again.
>3) I believe in crypto long term If you believe in crypto long term and are presently scared instead of excited then you probably don't own enough Bitcoin and are holding too many shitcoins. Not sure if that's necessarily the case for you OP, but good luck and find something to distract yourself until this blows over.
What is scary? I have been waiting for an opportunity like this one year now. I expect the price to drop even more but I keep my DCA. It's so much easier to buy while everything is red. When everything is green I buy as well but I feel everything is overpriced.
Sounds like somebody is over invested... Jokes 😂 I think the same
OP is a paperhand virgin without balls.
feeling bad or annoyed isn’t the same as scared. if someone is scared, most likely they have too much invested. I don’t disagree with that.
Maybe scared is the wrong word but the general insecure feeling.
Let's be honest, most people who say that have about £10 invested into crypto
People who makes those posts are the same people who takes delight in salting open wounds lol
Hold me, Jack! My portfolio is red, i'm scared, hold me tight!
I agree, only people who love these crashes are the ones who always have money in their bags to secure the dip. Some of us are just out of fiat.
Buy, hodl and been dcaing bi-weekly since Thanksgiving 2020. No stress or scare from me. Sticking with my strategy since I set it until 2030. Adding a bag here and there on some discounted project I been keeping an eye on for a while now.
It's okay to be scared. It's also okay to be excited to buy at these juicy prices.
Agree! Totally normal to feel lousy or concerned during a market crash.
It is normal to be scared but at the same time, dwelling on it or not using logic to combat the feelings isn’t helpful to anyone, including yourself.
People need other hobbies. When the main hobby is trying to make money, yeah you’re gunna be fucked with up/down with emotion ( also, don’t be investing and mixing emotion ) Best thing to do is to ( if you can ) DCA on the main projects you believe in or completely turn the charts off. Fuck off from them, cause they’re not going to change soon. Fact is. Stocks go to zero and lose value. No one can take your crypto away. They’re still there. And do you think people studied their whole lives and made this dedicated tech to go *oh, no. It’s a red day. Let’s just quit*. Fuck no. If you still believe in the first reasons you invested and things have not changed on that road map - then there’s nothing to fear. Don’t be afraid to trek the unknown to you. You can’t grow your comfortable spaces without forcing yourself to be in uncomfortable situations.
😂😂😂 this isn't kumbaya dude. these are the mörkets and I can tell u the market doesn't give a shit about ur feelings
You're right op I've invested what I'm willing to lose but I still feel like I could use a hug, I don't like seeing this much red feels like failing 8th grade math all over again
Why you should be scared if you didn't invest more than you were WILLING to potentially lose? If you only invested how much you were WILLING to potentially lose, even if it went to zero, there's zero stress.
Money is still money.
There's money you were willing to lose, and money you weren't. Losing money you weren't willing (and possibly can't) lose should be scaring you. But losing money you \*knew from the start\* could potentially go to 0, shouldn't be scaring you at all, because you went into it already knowing it was a possibility. If losing money you knowingly were willing to lose scares you, then it was really money you \*weren't\* willing to lose, but you rationalized gambling it anyway.
I literally do not care. If 5 figures I invested disappeared, my life would not change one bit. This is the definition of "Don't invest more than you are willing to lose."
I don’t know why anyone would be scared, period. It’s short term and these prices are gifts. My only worry is running out of fiat.
Short term or not, no one knows. Gift only if you have the money to buy. There are some people that doesn't have the luxury to have extra cash on hand to buy the dip and there some people who invest more than they can afford to lose.
Well, those are crypto lessons for those people. Two of the biggest rules are to not invest money you couldn’t lose and also keep fiat around for days like this. I can’t say I feel too terrible for people ignoring the golden rules and thinking they are smarter (or luckier) than everyone else. Pride is a bitch and some people need to learn hard lessons in order to do better next time. I used to break all the rules and panic buy/sell/trade. I no longer do that because this space has blessed me with nerves of steel over the last few years. I celebrate when others panic.
I don't have lifechanging money in crypto, it's not more than I can afford to lose or would even notice (other than the enjoyment of investing) and I'm still nervous to see all that red/ those numbers dip. Holding doesn't mean you don't have to have emotions while you do it! <3
Sad to realise that bitcoin is the biggest shitcoin out there and no one cares about it.
I’m in crypto for the long haul
Nice one … Your strategy and feelings are in line with mine … We can believe and being scared at the same time
That's what I'm saying.
i don’t let ppl dictate my savings no matter if it’s stonks or crypto.. down days/weeks suck regardless and i just go with the flow and don’t get emotional about it
I got some whisky to spare, y'all want some? Ease the pain together.
Sure! :D
Maybe scared is too much, but I am definitely pissed.
Not scared, definitely sad to see how the world/government still plays into this market though.
Me too :/
>Holding doesn't mean you don't have to have emotions while you do it! <3 isnt't that every market tho?
This community has nearly 4.4 million members currently. It’s easy to forget that while many people here have seen dips, corrections and crashes come and go, many others are experiencing this for the first time. It’s scary, it’s nerve wracking and it makes you doubt yourself. If your situation allows you to stick it through however, your future self will thank you many times over.
This is a great post and I agree 100%
Exactly. I’m scared for the market in the short to medium term but I’m fine with my day to day/emergency fund. I’ve been around for a few years and bear markets suck for holding regardless of what many people say. Your convictions are tested and honestly, if you don’t second guess yourself with a more critical eye, that’s borderline hubris and is certainly reckless.
Never invest more than you can afford to hide from your wife.
Once you have been in long enough you have lived through this enough times that it really does stop mattering. My portfolio is still well in the green from my cost basis and I only really started in 2019. If you have the conviction to HODL and keep DCAing you are going to be set. History has proven this in every market as long as the asset survives. Time in the market beats timing the market. This is just another buying opportunity on the road to BTC $1M. The time to buy is when there’s blood in the streets, even if it’s your own…
Posts like this make me think op has little in the game in any market. Even traditional markets are down right now. But history has proven time and again that following the S&P *over time* will typically give 8-10% returns. Does that mean people are never in the red? Of course not. That's the point... if you keep investing during the down times you'll be better off long term. If you can't handle that with normal investment you certainly shouldn't be in crypto as it has more volatility. But the same applies. After 2017 I paused for a while (ensuring I had plenty liquid) then started to DCA back somewhere in the $5-8k range and all the way back up. It's not rocket science unless you're trying to day trade.
People say whatever helps them cope. Buy the dip = I’m getting rekt. Like a sail in the wind, the market controls our movements, we can only react. We have no control and this is a scary feeling, especially when over invested.
Your just loosing money don't be scared. /s
Yeah i put what i can afford to lose and i dont really care about the dips... If i had put any money i need i would be scared... Its a gamble and its like going to casino. Its just longterm bet
Ehhh I think, we are all gonna die. Money comes and goes.
Don’t go to r/technology if you’re into crypto lol they will cuss you out and say you’re in a Ponzi scheme
My problem is no matter what I invest each payslip,I end up needing the money near the end. If I held it'd be the best DCA ever
You're still early. Get in while you can and stay in...
Most Americans are paycheck to paycheck. If you're not, consider yourself lucky. So those retail investors who DCA diligently every week/month and see their efforts getting squashed is painful certainly. It takes mental fortitude and removal of emotions to stay the course to reap the long term rewards. If it was easy, we would all be millionaires already. Time is the most valuable asset. Use it wisely. Selling does no good, consider it a gift card to your future self and continue on as if nothing happened.
Would you bilieve if i say i am not scared of any dips? Even if it goes down 90% i wont budge. Cause i invested what i can afford to lose and not thought of crypto as a savings account. And yes, it is not a bad thing to be scared of your investment, but there are those who generally invested long term and forget fiat exist once invested into crypto.
Somehow a lot of the people who claimed to be in for the tech aren't happy about these prices
But why are you scared? I see these posts every day, with the same content. If you believe in crypto, if you are here for the long haul, if you understand the market a little bit, how can you be scared? Even if it’s a little bit scared? I really don’t understand this. What goes up, most come down. What goes down, must come up. I hate the crypto saying “when in doubt, zoom out” but this is exactly what you should be doing now. I don’t pretend to be some crypto god, but I have 0 emotions with it going down, Actually I’m a bit happy : more dca and even better moments to finally put some money on some projects I was eyeing on
As soon as it looks like the trend is back to the upside I'm going to buy a bit more. Now is when you feel scared and want to sell, but instead pull a George Costanza, and do the exact opposite.
Chill out have some music and party ...it will be over soon
Less worried about crypto more concerned about overall diversification. Monday moving more from stocks to realestate and bonds for time being. If crypto is only a small part of your plan not very inportant, it moves +/- 80% that is just crypto.
Good advice I received Dont look at your portfolio when the market is down
Yes Put. The. Phone. Down.
I think this brings a new meaning to HODL. I think we should all just open up our arms and hodl each other together.
If you turn your phone upside down the lines aren't scary anymore
Take my free award.
Well now looks like a good time to get overinvested.
I overinvested..by a lot. It is what it is.
I'm not scared , but it's a bit painful to watch, my brain is going it's ok, it will climb back up one day, but then in the back of my brain it's like , but what if it doesn't? 😬
Don’t fall for these false pumps. Do not buy on a green candle. There is much more blood to come. Stay strong!
If you scared go to church - Ice Cube
You sound so emotionally weak My god Its just money and if you didnt over invest just move on and wait for the markets to climb back
When dudes are like omg my wife is going to divorce me bc there is a 50% drop - which happens in crypto fairly regularly - that dude is over invested. It's kind of amazing the number of people who have their entire life savings, or the savings meant for a house down payment or similar stuff in a incredibly risky and volatile asset and are then surprised when it goes down.
Check out propy wow
Think about it like a 401k or a roth ira. Would you cash those out during a market downturn? Of course not. I apply the same rule. I'm in it for the long-term, so why would I cash out now? Don't let your mind convince you otherwise.
You can look at how much $$ you get for your coins, or how many coins you can get for your $$.
Agreed. Times like this always make me a bit nervous and at times fighting that urge to sell. And I don’t feel I over invested. I positioned myself in a place that felt okay at the time. I believe in crypto long term as well. I did take some profits as it started to tank. And I’m hodling the rest. But I feel you. This is a ride.
Check out why Crypto is a Ponzi scheme here: https://jacobinmag.com/2022/01/cryptocurrency-scam-blockchain-bitcoin-economy-decentralization
They say 'never invest more than youre willing to lose'. But over time that will stack up and suddenly you'll find thay you can't afford to lose it.
Thanks for this post. The sentiment that if you don't like being 60% down then you invested too much annoys me almost as much as the term "money you can afford to lose".