Ever since Bitcoin passed the $10,000 mark I have heard so many what if stories from people who would have been a millionaire IF they had bought bitcoin back when it was $400. Here are two examples that you should remember when you see days where the market is down for the day filled with bad news or FUD as they call it.
Throughout my entire time of having a Coinbase account I estimate that I sold around 2.5 bitcoin throughout a couple of months when bitcoin was valued at $700 each. I took the small profits because back then I was in college and this is how I would have to get by on some days. I completely accept this and is what I had to do to get by, but nonetheless today that would have been worth an estimated $32,000 had I just found another way.
My second lesson I should have known better than to sell my shares because at this point bitcoin was already worth around $6000 and so I knew the potential of the cryptomarket. This past summer I invested my money into a little crypto called Antshares which as some of you know rebranded into what is now NEO. I bought ~75 shares at $7 and was so happy when the rebranding shot NEO up to ~$30. At this point in time news started coming out about China banning crypto and so I gave into fear and happily sold at a profit just like I did with bitcoin. At the time of writing NEO is now priced at $160.
My point is that both Bitcoin and NEO went through tough days where the market was slow or where they were constantly going down, but look at where they are now. You literally don't have to do nothing if you believe in the potential of your holdings as everything good comes with time and patience. Don't get scared into selling your small fortunes because we are still in a very early adoption phase in the crypto world with tons of potential out there. You only lose when you sell at a loss so don't let the traders take away your rightfully earned money.
The biggest lesson I've learned is to JUST HODL IT because you may very well be holding the next bitcoin and these red days will pass.
Here's some inexperienced trading humor I found on twitter although I forget who to credit. Come forth and I'll give credit where it's due if you find this. You can only get lucky so many times if you don't know what you are doing.
Do you have any similar stories? Whats the biggest GEM you let go? Comment below!