For the last couple of weeks I have been very frustrated by the sheer number of people writing about how it is the end of Bitcoin and that we should all sell. I even saw these posts here on steemit which surprised me as you would assume people here have a bit more faith and understanding about how blockchain technology works and behaves. Bitcoin was never in any real danger, even if there was a fork it would have been temporary yet people were in 100% FUD mode. Even though a lot of these people bought and sold low and were advising others to do the same. My reaction was somewhat like this:
The only way to reliably make money with crypto is to HODL, sure you should have a good percentage of your investment for trading, but the backbone of your investment should always be HODL. These people advising others to sell low actively lost people money and should feel ashamed. Everybody seems to claim to know that you should buy low sell high but almost nobody seems to actually abide by these rules. I was loving it during the crash, I was buying crypto left and right and now that the crypto market is recovering I can sit back and enjoy.
Sure, I took precautions in case of a chain split, I moved my Bitcoin to cold storage and was prepared to set up a BIP 148 node should I need to. What I didn't do is sell all my crypto at rock bottom prices and recommend to everybody to do the same. I have a lot of sympathy to those of you who sold low and are now having to buy back in high because somebody told you to, I can only recommend you stop taking people's advice and read your own charts and make you own assessments.
There you go guys, I, and other more calm individuals were right and those of you who are probably still panting from all that running around panicking were wrong. The moral of the story is FUD is dumb and so is FOMO! Just take a breather, stay relaxed and enjoy the ride.
Happy Trading
Viking
