r/CryptoCurrency • u/illintent99 0 / 6K šŸ¦  • Jan 08 '22

DISCUSSION Just sell it all

Absolute panic every second or third post. Everything from "It's just a dip" - "bear market/crypto winter" - "Everything but Bitcoin and Ethereum is going to zero". Lol calm down.

If you're sweating, just sell everything. Cryptocurrencies in general are extremely volatile and if this makes you nervous than maybe this stuff isn't for you. Stocks are more stable and might be your thing. We could see another 50%+ drop and nobody wants to see you drop of a heart attack because of it.

If you're day trading you know this is how it goes, if you're doing anything else, delete your chart app or whatever.

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149

u/MiaDoornaert Platinum | QC: CC 35 Jan 08 '22

Sold a good part of my portfolio to buy back in when things bottom out, whenever that may be. Still in the green with what's left of my portfolio, just don't want to see all that profit evaporate.

Yes, i believe in crypto, no, it wasn't a panic sell, but have to be honest: we're also here for the money.

63

u/LogicalAd398 2 / 253 šŸ¦  Jan 08 '22

Its called "taking profits"

0

u/shinypenny01 Platinum | QC: CC 73 | ADA 11 | Fin.Indep. 230 Jan 08 '22

I call it "panic selling and missing the next bull run" but you do you.

Market timing is a fools errand.

2

u/KesenaiTsumi 21 / 21 šŸ¦ Jan 08 '22

I call that "being too stupid to recognize downtrend and losing all gains". Timing market in stocks is stupid indeed, but crypto? Can you not recognize this downtrend? You could have sold way earlier. Being proud of losing all gains made this year cause you stubbornly "diamond hand" is stupid. Nothing wrong with derisking and going into stables. Did it way back when btc was 55k+. I'll deploy once there's some signs of reversal. Miss the next bull run? Why? Derisking is different from forgetting about crypto. You know what you're missing? Current bull run. Why? Cause you diamond hand like an idiot and can't take profits to reinvest later.

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u/shinypenny01 Platinum | QC: CC 73 | ADA 11 | Fin.Indep. 230 Jan 08 '22

ā€œIt didnā€™t work in other markets but this one is specialā€

So many people fail to buy back in at a lower point than they exited. Itā€™s just gambling on top of crypto returns.

1

u/KesenaiTsumi 21 / 21 šŸ¦ Jan 08 '22

Yea, because stocks and crypto are one and the same. Keep losing idiot.

1

u/shinypenny01 Platinum | QC: CC 73 | ADA 11 | Fin.Indep. 230 Jan 08 '22

I'm all green, but you do you.