This is how I should think post-May dump
I’m sad. Who wouldn’t be? Especially after losing half the value of your crypto portfolio in mere days. Sometimes I wish it has never grown so big so fast. I would be so happy with gradual climbs. I’m still up 5x by the way. I still remember that faithful moment when the price went up before I was about to sleep. I said, “Naah, tomorrow will be okay.” Tomorrow came and the price crashed. It crashed but not so bad and I was busy away from the keyboard. I cannot trade because of other concerns. I said, “next daily cycle.”
And then Bitcoin price declined by half. I missed a chance to sell all my bitcoins again. I planned to sell all my bitcoins whenever there is a correction. But I lack the guts to trade large sums of my coins.
For the most part of the last two years, I wasn’t trading my entire stack. In fact they are all in cold wallets. I was a hodler. Anyway, I am pissed at myself. I could have, would have…fck!
I had some sort of an informal plan that when Bitcoin reaches $120,000 I would probably start selling, I am happy to sell all and would probably use the capital to start businesses or some sort of requirement for immigrant visa in some country. Well, if a full blown bear market comes, this dream is no more.
Another pressure for me is needing some capital for another round of IVF for my wife. If the bull market continued, I would probably use some of the profits for the medical procedure.
Anyway, the funny thing is: I am upset because of losses I can’t see or feel. The coins were just in storage, not making money or not being used for trading. I don’t physically feel the loss. It is because I don’t use it or do I plan to spend it.
All the same, even if there was no market crash, I still wouldn’t touch the coins unless we reach the desired price.
What has change, what hasn’t change
I still don’t plan to exit crypto. I will hodl BTC, ETH until an obvious market top around $100k region even if it takes another 2 - 3 years.
Never mind if the value of your portfolio was halved, you won’t exchange for fiat anyway until of course mewn. If this June, we enter into a full blown bear market. It’s oke. We just try our best to profit from trading. It doesn’t matter if bear or bull, as long as there is volatility of a thousand dollars. We can be rich by doing intraday trading Bitcoin.
For a real trader, they don’t care what the market direction is, crashing or pumping, as long as the price is moving! Volatility is a trader’s best friend, up or down. Your portfolio or “long term holds” is a bet or “investment” that you hope will rally many times over in the future. In which you will have to take profit in order to benefit from it. Otherwise it’s just numbers. If you don’t believe crypto or Bitcoin has future gains anymore, you get out, realize everything.
Don’t be sad, just man up, have guts and do some margin trading!
Actually, you just need to make at least 40Gs, 15%, or about 1.277 BTC to fund your current goals. In fact, you used to do 2Xs minimum in altcoin trading. 15 percent is easy in an altcoin pump. Do what you do best and spot the trending coins. Also, always practice making 500 pips minimum per trade and record bad/good DCA ratios.
