The only time I sold and never got back in on the train! My kind off anti-FOMO story!
Throughout the years, I have held a lot of different cryptos one exchanges and in wallets. I have sold a lot now and then, but after years of trading and holding, there is only ONE occasion that I look back at in which I deeply feel sad about selling and not just holding!
I have done many mistakes and invested in stupid projects that have lost value. I remember following NEO to $200, and when I sold at $80, I felt stupid. But, in the long race, I was happy, because later it fell in value to $7.
But, there is ONE occasion on which I sold, and I just missed out on the train. And to be honest, considering that I have been paying attention and do some small trading for 4-5 years, that isn't really much. But, I remember... I had 100 LINK tokens. I bought them around 4850 Sats, and then it dropped to 2000 Sats (all way below $1). Then it returned to 4000 Sats and it was jumping between 4000 and 4000 Sats (4000 Sats is the same as 0,00004000 Bitcoin). Just for your information, the current Link price is 60450 Sats (that is, 0.00060450 BTC, which is 15 times more than the price at which I missed out on the train).
So, what happened? Well, I started to swing trade, and I actually managed to grow my stack to 130 Link tokens. But, then I sold it all, hoping that I could grow my stack even more. And guess what? The train left the station, and it NEVER returned.
In other words, I lost out on a chance to join one of the coolest rides during the bear market in 2019 and 2020, in which Chainlink was one of the few stars shining in the crypto market. And even though it hasn't gone through the same mooning movements in 2021 as many other coins, it is still doing great, and currently, it is priced above $30. When I sold mine, it was worth somewhere around $0.5.
Is this a story of encouragement or a discouraging message?
In a way, I find it to be encouraging because I only have one such story that I really regret. In other words, I have sold my tokens at other times, and somehow, I have always managed to get back in. And also, I believe there are so many more stories about people who regret not selling something, than stories from people who regret selling. Of course, there is a story about the person who was so sad that he sold some thousand Bitcoins at $3 (that he bought at $0,5). After all, when he tweeted about it, a Bitcoin was worth $8. And then you have the person buying a pizza for 27 BTC. So, there are more stories like this, but not as many as those on the other side... those who regret not selling.
It is also a small warning... don't put all your eggs in the same basket. That is, if you swing-trade, don't sell it at all... because you might miss out if the express train suddenly shows up. Be careful, and only play with tokens you are willing to lose!
What is your story? I would love to hear from you!
Wow I love your posts, they are very motivating - Thanks a lot! I regret rejecting cash back in Bitcoin and rather prefering Euro back in 2013. Then I never cared about cryptos until now. It'r really a challenge to regocnize opportunities and long term perspectives when they arrive. After all looking back does hurt but doesn't give you any benefit. Hoping to have learned my lessons;-)
Interesting post i do witness such swing on some of my holding but sometimes its better to sell funny we cant predict the future accurately so FOMO makes us sell out due to panic.
We all have that FOMO experience though but I can't really forget when I bought a new listed token from Binance while it was pumping.. It's really a great experience I can never forget but it's cool that those moments are over now 😂.
Thanks for sharing this great post with love from @hardaeborla and I hope you have a great day ahead ❤️💕♥️
I don't really ever sell and there was a time that this looked like a terrible mistake and I believe it was early 2018 that the people I know who were all bailing after BTC hit 20k then tanked for a year were all consoling me even though it was, for most of that time, still above what I paid for it. I still have all of mine today and well, you know how that is.
The only regretsell that I have is when ETH was dropping like madness and I panic sold on a stop-loss, I wasn't even aware that it was still in the exchange like that. ETH is now worth 4 or 5 times what I paid for it but that is the nature of the game, right?
Well, I fear stop-loss more than anything! I know it should be my friend, but I have seen so many of those big-time 1-minute dumps where the price goes down to half, and then it suddenly returns back again. As a result, I almost never even touch stop-loss, because I know how terrible it can be. In fact, I rather try to use such instances for my own good, so I rather try to use it for what I call crazy orders! I place some orders at crazy low prices, compared to current market prices, and if something strange happens and they suddenly go through, then I have quickly made a very nice profit and can sell...
But stop-loss, I am very careful with it!
Ps: I know holding... but the question is just, for how long will people hold their BTC, when will they actually start selling? If you have 1000 BTC, then it is easy, because you can sell some here and there without noticing. But, for those who only have a few, or 1 or less... that Is a troublesome thing that might cause some headache.
I think a lot of people will probably HODL too long, I worry about this as well.