You should read this post first if you haven't read post 1 of this series of #stid.
Basically, the question is whether you should continue to hodl in a project that is just starting, but is doing well.
Should we take profit or let things remain status quo?
There is always risk in others taking profits earlier than you and prices will drop.
I believe most people are taking advantage of the relatively low transaction fees in the CEX to trade in and out to make profits.
This is the hard truth I believe: There are likely more market traders than lovers of the project.
There could be even traders pumping the tokens. Therefore we could see another spike up as shown below.
The recent Korean pump as some suggested, is a behavior that we can relate to.
Having been in this situation watching the pump, let me tell you the sense of FOMO is real. The fear is always: what if it goes up to a point beyond return?
It is at this point that I will tell myself to calm down. Don't follow the pump! If it goes to moon and I don't have it, so be it.
There will be other pumps.
And the real profits are made when I bought at low prices and sell in such a pump.
Just watch patiently. Ignore the pump.
And true enough, no pump lasts forever, and some people will take their profit when they think they have had enough gains.
The result is the sharp decline as shown below. If I had FOMO in at about 19 and hope that it goes up to 40, I will be holding the bag at 6!
What would you do next? What other thoughts do you have?
P/S: This is not financial advice, and please do your own due diligence before investing.
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If you read this far... and if you are a like-minded Hiver who is on the path to learning more about Hive and crypto investing, and if you like to be tagged when I write such posts, I welcome you to leave a comment below and let me know. We can form an alliance to support each other's growth.
You might be interested in this post, @jacoalberts and @youngkedar98!
Posted Using LeoFinance Beta
Posted Using LeoFinance Beta
