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RE: Hey, Minnows & Dolphins - It's OK to Spend Your Steem When The Market Is Down!
Good post. You have to do what is right for you. It's easy to say hold if you are sat on hundreds of bitcoin and thousands of dollars. But if you are not and need to sell just sell. You need to consider why you are in Steem. Are you a writer earning a living (or supplementing earnings)? Or are you an investor? You can be a bit of both, but this will affect what you do with your Steem. It could go back up, go higher or crash to zero. We have to wait and see. But if you need funds, just sell. I don't believe many of these whales saying they are holding anyway. If everyone was holding, the price wouldn't drop!
Dude that's so true what you said about if everyone was holding, the price would be higher. I think maybe people are just looking for advice to give out because they need to post something... and it's really easy to post "DON'T PANIC, DON'T SELL!" for a few days. Personally I thought all that was a bit silly... nobody was really panicking!
And no one wants to admit they sold if the price goes up. But I bet you'd get a whole load of people bragging about how they sold at the top, if it goes to zero!!
Ya!!! Survivorship bias to the max.