Yep. It's useless to cutloss now since the market already bounce back from the massive dip. Setting up stoploss is the key to prevent this kind losses. It will recover slowly again over a months if this side ways continue without further more dip. Holders will win on this market.
Doesn't really agree with Holders winning this market. Expert traders who knows the 2018 bitcoin crash that use stop losses still won as they analyze the market well and where to buy back on the dip. Imagine two scenarios: having your position on 54K and you cut at 50K then bought back at 31K, and Holding your bags from 49K, who's the real winner? Holding is definitely fine especially if your day to day profit making isn't trading alone. BUT, Holding should still has its limits. Why? Yes, Bitcoin price and even any cryptos that were affected by the crash is still going up regardless of the dip, but the time you wasted holding such coin instead of buying it back more in the dip still is a bigger loss than cutting it loss every time you set a position.
A wise trader knows when to cutloss. But a wise investor or holder knows that crashes are common. Nonetheless, where are we when the March 2020 crash came? Have we considered holding any coins from that crash? I guess many of us not. We're just mere traders who needs to learn more to use stoplosses at any trend of the market.
And becoming a good holder is easy and can be done by almost anyone as long as they are willing to do so, but becoming a good trader is incredibly difficult and very few achieve any meaningful results which means that many times it is better to take the safest path and become a holder.
