I have a couple minutes so I thought I'd jot something down as I wait for my coffee.
I got into an ico this summer and finally sold half that position for BTC.
Why? I feel more comfortable in BTC. I sleep better with my profits in the Mother Earth of crypto. For awhile I was riding this roller coaster of emotions with every dip and pop. Hodling is a tough game for a skeptical dude like me. I commend anyone that held any of these successful cheap penny cryptos all the way to hundreds or thousands.
I got into a couple ICOs this summer and one dumped hard but now finally went 2x, so I guess I'm better than average at holding because many folks dumped for a 65% lose. But the coin I got more emotionally attached to was tough to let go. It was also consuming 95% of my portfolio.
I still believe in the project and the product is coming out soon that could change the world, but I had made almost 300x so I had to diversify.
I would see my portfolio go up 10k overnight and fall 10k while eating breakfast. So I decided to move half of the funds over to BTC Honey Badger.
I love Bitcoin. I want more of it and if it goes down I feel more comfortable with it retracing a couple grrs than I did with my altcoins going down a dollar.
I understand it's the wild west in crypto, but being able to take profits and hold more BTC was one of the best moves I've made. First off the coin I was in was overextended in my opinion and has given back over a third of it's price since. But if you like hold BTC, when your altcoin is going down in USD it is usually going down in BTC also, double whammy.
I have a hunch BTC is going to pump soon so I really didn't want that loss compounded. I didn't want to miss out on another fork. I just love crypto and want to see the disruptive technology flourish.
Maybe you're in the same boat or have been. Thoughts?
Be well,