Earlier this year, I decided to focus my attention on the move to earn sector because I didn’t want to miss the opportunity. I lost the bitcoin opportunity, I lost the Ethereum opportunity, I lost the early play to earn opportunity, now opportune to be an early adopter of move to earn. I searched for lots of move to earns, StepN was too expensive as at then to get an NFT shoe, so I decided to go for stepapp move to earn. Stepapp promised to have their move to earn game ready soon, so I bought loads of its native token called FitFi. Then came the massive bear run that rode lots of the tokens to their bottom price, I saw the value of my Fitfi token plummeting so low.
I didn’t sell, I decided to HODL, but 5 months later the value is still low and the stepapp team haven’t released any move to earn whatsoever, they promised that they are taking their time to launch a perfect move to earn, but ended up launching bunch of unnecessary stuff that seemed like a way of diverting its investors attention into forgetting that their project is a scam, at least that is what I think about it now. I lost complete hope in the project, and the value of their token has gone down, so I started having the capitulation feeling.
The capitulation feeling is a feeling on wanting to sell your assets, especially the crypto assets because you feel there is no hope anymore on the asset. This is when all hopes on the asset is gone, so you sell it and take your loss.
Not all cryptocurrencies will be successful, some will succeed and pass the test of time while some won’t, so it’s best to know when take your loss and bounce. Unnecessarily holding because of pride can lead to complete loss of your asset where you end up having a worthless token. But the most important thing to know is “when”. This is when you have done your research of course, if you do your research and you still have the feeling, then sell, there will always be better opportunities else where. It’s crypto, opportunities are everywhere.
Most times when you take this decision, it’s advised to never look back and keep keeping up with the price of the token to make sure it’s price doesn’t rise even after you sell it. Because this can mess with you mentally, sometime you find yourself buying the token back again.
I have lots of tokens I am having capitulation feeling on, most of them are the move to earn tokens. I have recently sold my fitfi token and some of my other move to earns, but tokens with great utilities are still intact.
