This post is a feel better post:
You're either not in the same boat as me, in which case you should feel better, because you were either smarter or luckier than I was...
Or your in the same boat as me, in which case you should feel better, because you're not the only one...
Anyone else have most of their portfolio in alt coins during this bull run for Bitcoin??
Be honest...
Did anyone else think, like I did, that we'd have a crazy alt run leading up to the two forks in Bitcoin???
No?
Well I did and I'm super stressed. I'm at that place, where I want to cut my losses, convert everything to BTC and be grateful that I cut my losses.
If things keep tanking, then this could be a good decision... for now!
But what do you think will happen when the forks are over? What has always happened following a massive bull run by BTC?
BTC will begin to pull back and that money will flow back into alt coins.
So no matter how close I get to pushing that sell button, the simple probability is that I've missed this BTC bull run. However, I haven't lost my gains yet, until I lock them in by converting back to BTC...
Someone very wise that I know once told me something that has stuck with me ever since...
I was beating myself up for not making a buy that could have rewarded me with LOTS of money... He said:
You shouldn't beat yourself up so hard, because you wouldn't have just had to make the right decision to buy then, you would have had to continually make the right decision not to sell
As I thought about this, I realized that he was right. That knowing me, I would have sold at gains that were far lower than what I was beating myself about for missing out on.
This is the beauty of the HODL strategy. This is the reason that the term is so ingrained in our lexicon as cryptocurrency enthusiasts that it litters Slack channels and Reddit threads.
If you guessed correctly and are benefiting from the recent BTC run, I applaud you.
If you diversified, so you couldn't miss out on these types of runs, again I applaud you.
But if you gambled, like I did, and missed out (for now at least), don't lock in those losses by selling in a panic.
HODL strong and wait for the inevitable correction. The all time high is never a good place to buy. A low point is never a good place to sell. I almost did just that today, before coming to my senses.
For now, I'm going to stay away from coinmarketcap and relax!
Will I live to regret this? Ask me in a month...
