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RE: Calm Down! A Few Thoughts about Investing and the Ups and Downs of the Cryptocurrency Markets
what I think is interesting is that less and less people are panicking and the bounce back seems to be taking place a lot quicker. at some point we could be suckered into taking big losses if the whales were to test our commitment. If you won't split with a 25% hit, would you sell at a 60, 70, 8- percent hit. Where is the psychological parachute point? I'm not saying this will happen, just interested in the thought experiment.
Well, it's an interesting thought experiment. And I suppose it also depends on why you are here. I personally kept powering up when Steem dropped to 7 cents, earlier this year... then watched it go up to $2.65 in June... and then back down. And now back up. I think the bailout point would depend on many things, including how much you NEED the money, and how much skin you have in the game.
OH man to get steem at 7 cents... what a dream... I guess people will look back at the $3 mark and say the same in a year.