Some of the Trading/Holding decisions I failed to make wisely and my learning.
I had 2 BTC.
Can you believe this?
Yes, almost two BTC. Some I sold in December 2018 and hold the rest. Then when the price start to grow a little I sold 95% of my holding in mid-2020.
Nope, it doesn't make me feel frustrated. But sure, I can be wiser, I could hold it for a little longer. And maybe I would be a millionaire by now.
What made me sell my BTC in 2018?
Back in 2018 December, the price was sitting on the $3000 line for too long. I lost my hope, I needed some money.
I have to approve that the money is an excuse here. I could hold it for longer and arrange money from other sources.
- This was my first mistake to not have faith and patience.
- My second mistake was I didn't invest the money in other cryptos. I cash out the whole amount.
If I didn't do those two things will be different.
What mistake I make again in 2020?
When in 2020 the price of BTC was raising I thought this is the perfect time to withdraw some money. Like when I had them it was around $3000 and when I decided to sell them it became around $10000.
That was a good deal if I compare. But now we all know the math could be different if I can hold for a little too long.
BTC was steady at around $10000 for many months so my thought was this will be the steady price. I sold my 95% asset in June 2020.
If I could wait a few more months then things would be different.
My learning from these two mistakes.
Hold Hold Hold
Don't lose faith, at least on BTC.
Research, analyze the market, see the average holding trend. Study more, believe in the prediction.
More importantly don't sell everything like me, 95%. If you need emergency money sell not more than 50%.
And if possible invest the money in other cryptos if you don't believe in whatever crypto you are investing.
In conclusion, I would say, make your decision wisely if you are selling. Crypto is the future. I will say it again, crypto is the future. So make your treading/holding/selling/investing decision wisely. And you will be no loser.
Thanks for reading my post.
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