Covid lessons learned know when to finish - page 4.

kawetsriyanto

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Quote from: cryptoboss2020 on January 20, 2021, 09:43:06 AM

Many people who sold their assets before covid was right about.

What assets? Make it specific, please.

If you mean crypto assets, take a look at my answer below.

Bullrun was happening in 2020-2021, while Covid19 was reported from China about 31 December 2019 for the first time.
So what does it mean? People who sold assets before Covid19 happened, cannot enjoy Bullrun. Is it the right decision? Surely not, man.

Well, I don't really understand the correlation between Covid19 and the timing to sell assets. We all know that no one knows when Covid19 will end. No guarantee to avoid Covid19 although you have got the vaccine. Also, no one can predict how far Covid19 can be mutated. From these matters, what we can learn and apply to our assets? I think what we can learn is only about "patient", not about "timing to sell".

sapnu

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Quote from: cryptoboss2020 on January 20, 2021, 09:43:06 AM

Covid shows us you must know When to finish.
When your business doing too good you have to sell it.

Many people who sold their assets before covid was right about.

Good example are all kind of business with debt and own rent money to landlords.
Conclusion: dont Stay on something too long know When to finish and Move on!

Lesson learned dont stay too relaxed cash out and Move on!

In my opinion, it did not teach us when to finish alone, it forced us to choose to finish because there are no other choices left. It is quite unfortunate for many and it could've been one of the best year for new businesses but crazy things happen out of nowhere. Some has been long in the business already yet ended up failing to adopt to the new normal while there are some that was able to survive regardless of being a newbie. Always be thrifty, we do not know when will the economy go down hard as the happenings or the effects of COVID 19 backfires.

ziyaaa

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This is so true. People should know when to stop too. Therefore, I think it is the best to set some price goals for ourselves. It helps us make better decisions and manage our investments much better. But if we don't care about this and the greed takes the control of us, then we may even lose everything we've.

Saidasun

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Quote from: BrewMaster on January 20, 2021, 01:54:02 PM

Quote from: cryptoboss2020 on January 20, 2021, 09:43:06 AM

Many people who sold their assets before covid was right about.

not everything tanked because of COVID19 though! in fact many businesses thrived during the pandemic because of the need that increased during those times (basically anything that didn't have physical contact).
not to mention that bitcoin has been rising for 90% of the pandemic time while everything else was dumping.

Delivery companies are the ones that skyrocketed their profits as local jobs were being promoted with them as they did not have enough drivers. Bars and restaurants will benefit now that the pandemic is starting to be curbed and people will be more willing to go out and spend bigger amounts than they did before.

Haunebu

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This particular lesson is common sense to be honest. Smart business owners will help their business survive no matter what while the dumb ones end up failing.

Quote from: john_nautica on July 15, 2021, 10:52:20 AM

But, of course in these unprecedented times, faith in whatever we are holding to like hope for recovery, belief in God’s grace and many more are also being taught to us.

You forgot the biggest lesson of them all which is basic common sense. The reason why the virus continues to spread like crazy around the world is because most humans lacked common sense and ignored precautionary protocols.

The world would have been in a much better state if majority of the people utilised their brains effectively.

Silberman

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Quote from: john_nautica on July 15, 2021, 10:52:20 AM

The lockdowns and restrictions that are happening because of Covid-19 pandemic caused a great deal of damage to businesses. Yes, it is correct that this pandemic taught us many lessons such as the timing of selling of assets. But, of course in these unprecedented times, faith in whatever we are holding to like hope for recovery, belief in God’s grace and many more are also being taught to us.

I would argue that while knowing when to sell your assets seems like a good lesson to learn there are many others that could have been even more valuable, one of those especially for businesses but that apply to people in general as well is to not indebt yourself too much because things like this happens all the time, in this case it was a pandemic but the 2007 crisis also came out of nowhere and people suffered because of it, and when that happens you do not want to hold any debt, and since we cannot possibly know when a crisis like this can happen then we need to avoid debt at all the times.

john_nautica

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Quote from: Xinarae* on July 15, 2021, 04:58:09 AM

Those who have invested in the virus before have made a profit but it is foolish to sell it in panic although the price of currencies decreases, the value increases over time. We have learned a lot from covid but there is no guarantee of when it will end when the price goes down it's time to hold on efforts to avoid such disasters have led to unprecedented calls for social distance, forced lockdowns and closures. Schools and businesses will try to limit COVID-19 transmission we must always avoid it.

The lockdowns and restrictions that are happening because of Covid-19 pandemic caused a great deal of damage to businesses. Yes, it is correct that this pandemic taught us many lessons such as the timing of selling of assets. But, of course in these unprecedented times, faith in whatever we are holding to like hope for recovery, belief in God’s grace and many more are also being taught to us.

monineklutak

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Quote from: dark1234 on July 15, 2021, 01:43:15 AM

now the Corona virus has mutated so many countries are making efforts to re-lockdown but this is not the best solution in my opinion. and now the price of bitcoin tends to fall, now is the time to collect it again after we sell

The more here the Covid 19 virus actually mutates and I think this is beyond expectations,
In addition, with the implementation of the lockdown policy in several countries, of course it will not be easy for the community,
I hope this can end soon because life like this is certainly not easy

Xinarae*

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Those who have invested in the virus before have made a profit but it is foolish to sell it in panic although the price of currencies decreases, the value increases over time. We have learned a lot from covid but there is no guarantee of when it will end when the price goes down it's time to hold on efforts to avoid such disasters have led to unprecedented calls for social distance, forced lockdowns and closures. Schools and businesses will try to limit COVID-19 transmission we must always avoid it.

dark1234

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now the Corona virus has mutated so many countries are making efforts to re-lockdown but this is not the best solution in my opinion. and now the price of bitcoin tends to fall, now is the time to collect it again after we sell

cryptoboss2020

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Quote from: bekti3 on January 20, 2021, 02:35:04 PM

Quote from: cryptoboss2020 on January 20, 2021, 09:43:06 AM

Covid shows us you must know When to finish.
When your business doing too good you have to sell it.

Many people who sold their assets before covid was right about.

it may be true that many people admit that they lost their assets too early before the pandemic. but most of them were selling bitcoin at that time. maybe because at the beginning of the pandemic the price of bitcoin fell quite drastically. and panic that feels as if you didn't expect the price of bitcoin to go up the way it does today.
This decision should be used as a lesson, cryptocurrencies other than bitcoins that may be sold too early will have little impact. but with bitcoin, it would be a shame.

The best way with btc you never sell all.
You try to wait for ATlow you like 1 btc
And you wait if Price goes up u sell Some %
If you woud bought 2020 spring with 4k you world have now 35k just sell 5-10k of it and keep the rest of it if Price goes more up sell some % if you need cash really

bekti3

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Quote from: cryptoboss2020 on January 20, 2021, 09:43:06 AM

Covid shows us you must know When to finish.
When your business doing too good you have to sell it.

Many people who sold their assets before covid was right about.

it may be true that many people admit that they lost their assets too early before the pandemic. but most of them were selling bitcoin at that time. maybe because at the beginning of the pandemic the price of bitcoin fell quite drastically. and panic that feels as if you didn't expect the price of bitcoin to go up the way it does today.
This decision should be used as a lesson, cryptocurrencies other than bitcoins that may be sold too early will have little impact. but with bitcoin, it would be a shame.

cryptoboss2020

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Activity: 322

Merit: 14

Everybody should know after good times for too long they should be prepared for bad times.
Don't be greedy make your profit and Get out with Some profit.
Even small profit is good times of crisis at least you have money.

Lesson learned time to become adult by actions Not just by the age

BrewMaster

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Quote from: cryptoboss2020 on January 20, 2021, 09:43:06 AM

Many people who sold their assets before covid was right about.

not everything tanked because of COVID19 though! in fact many businesses thrived during the pandemic because of the need that increased during those times (basically anything that didn't have physical contact).
not to mention that bitcoin has been rising for 90% of the pandemic time while everything else was dumping.

Stedsm

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Covid was not something expected, so you can't really say that someone who sold it before Covid did the right job. Maybe the ones who bought such businesses have the capability to run it even during the worst times? Maybe they dragged such businesses into profits which old owners couldn't just because of their mindset? Though, this pandemic truly proved who's a friend and who's a foe.

jvoda

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knowing when to exit a business / stock market / cryptocurrency trading / ... is as important as knowing when to enter

Reid

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There's one more big lesson it gave us.
Stop the YOLO. Cheesy

Lots of people lose their jobs and have nothing to buy for necessities, rent, or bills.
One more thing is to equip yourself with the best investment strategy and not just keeping it with banks that won't even profit anything.
I think some are still lucky they stayed with an investment like Bitcoin and Ethereum even with panic lurking because of the pandemic.

iamsheikhadil

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Not really, I mean, if there were people who were holding Bitcoin and sold it before covid, sold it at loss and if they held it till now, they would have profited so much because now Bitcoin price is almost four times! I think it's a very subjective issue about when we want to sell off our assets and what our personal profit goal is, it's true holding something for too long can have counter-effects as well!

Rruchi man

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Many of us learnt different lessons from the pandemic, to say that the Covid taught us to know when to finish sounds too conclusive. As much as some people incurred and ran into debt during the first wave of the virus, alot of people also likewise made good investment choices and made some good money as well. I believe it is more appropriate to say that Covid brought different lessons for different people.

cryptoboss2020

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Covid shows us you must know When to finish.
When your business doing too good you have to sell it.

Many people who sold their assets before covid was right about.

Good example are all kind of business with debt and own rent money to landlords.
Conclusion: dont Stay on something too long know When to finish and Move on!

Lesson learned dont stay too relaxed cash out and Move on!

Topic: Covid lessons learned know when to finish - page 4. (Read 624 times)