Ive read some news and threads saying that stocks and cryptos is dropping low and indeed its true. Bitcoins price drops to $7K and is quite disturbing.
Do you think its the best time for gambling? Given these following reasons.
- A certain loss on holding a coin can be obtained if you win on a bet in gambling and can recover what has been lost to you because of the drop.
- Holding is not that practical because it can be much lowered in the future and better risk it on gambling than seeing it continue dying.
- Trading or Holding consumes more time and risk and it prolongs the pressure of loss in you mind and stress you through out the day and the only way to release it is to risk it in gambling.
As you can see, these things are only successful if you win and much stressful if you dont. What do you choose? What do you recommend? Need some answers.
I don't believe that the current circumstances should affect anyone's habits or ways of gambling in terms of sums of money placed or money risked since either way you are risking coins that may have a much higher or a much lower value by the next sunset and whatever was your betting habit whether the prices are down or low won't change a thing because winning when the price is low or high is the same since you won the same amount of coins , what will change is the overall sum of coins you have and you'll only care about their value in fiat if you're willing to withdraw them or sell em .
Risking your money on gambling because you believe that the value will be going lower isn't a solid argument because the total opposite could happen and hodling would be your best decision then , so everyone should take his own decisions and accept whatever consequences .
As for your third point , i 100% prefer that trading/holding consume time and can make me some profit over wasting everything that i hardly earned on gambling and knowing that i could loose it all in a few minutes .
Lol. Gambling has no time to enter. And even though the price of bitcoin or crypto is higher or lower, it doesn't makes any difference specially if you going to convert it to fiat. If you prefer to gamble $100, then just play it with the equivalent value.
But as far as making money in crypto, I still prefer trading, less risk and its more favorable, that's just me. I gamble yes, but I also take advantage on how my crypto trading will give me profits as well. Two different ways to earn and satisfies once goals.