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RE: BTC Price Action! Bear? Bull?
I agree that people should buy Bitcoin and HODL (Hold on for Dear Life). But there are alot of people that like to trade (they find this very exciting). I don't understand why people can't do both. Buy some Bitcoin that you intend to NOT sale for any purpose to get those long-term gains. For instance, buying below $10,000 and then sell when it hits $100,000. That's a long term strategy and even if bitcoin hits $100,000 I wouldn't sell ALL of it. I'd let some sit it out in case Bitcoin goes higher. Then take a small amount and trade with it - have all the crazy, risky fun that you ever want to have. But you are right, so many people sell at the first sign of falling. They just don't have the fortitude to be early adopters.
My mentor actually hold some bitcoin from when the price was $200 but I think if you buy and hold from $10,000 not a good idea (at least in my opinion).
At this 5 digit price there is more down side then upside potential but as long as you have a plan for both bear and bull market you should be fine. Flash crash always takes time to get used to.
I remember losing 50% value on my positions a couple of months ago. It sucks but we all have to go through with it.