Topic: Just HODL - page 7. (Read 1386 times)

It can't be helped and stopped when many of them think that they'll win with trading. I don't encourage even my friends to trade when they don't even know how they'll make that much on it and how to read the market itself.

Even someone who's experienced will just simply tell to buy and hold and they're good to go with the upcoming bull run.

That's all they need to think of and if they wanna trade whether it's on the spot or futures, it's their money to play with.

These past few days are very risky for leverage traders. The volatility has been really high. Huge liquidations must be taking place everywhere. The year came in with Bitcoin's price around $42,500. It shot to almost $46,000 just a day later only to quickly fall down even lower than $42,000 the following day. And then it started to recover well before it once again fell down. And then it went up again above $44,000.

As always, with Bitcoin's volatility, leverage trading is riskier. Hodling is smoother and safer.

Forced liquidations are more serious when the market is very bullish or very bearish, when people are very fearful or very greed. You can watch the Fear and greed index and if you see it is very fear or very greed, it is time for you to step down and watch the market. Because sooner or later, the market will have either Long squeeze or Short squeeze, with massive value of forced liquidations.

HODL is good and it is very good if you HODL good cryptocurrency like Bitcoin, Ethereum.

HODL is good only if you hodl your cryptocurrency in your self-custodial wallets. If you store them on centralized exchanges, it's a risky practice.

It isn't just the best bet now, it has always been the best bet right for time but people choose to ignore hodling but encourage trading and the exchanges are among those pushing this agenda to encourage trading as they make more money from those trading using their exchanges. People have been brainwashed into thinking there's more profits in trading than hodling, they consider hodling to be boring and I have seen people saying trading is a way of making passive income from Bitcoin and people believe them without understanding what passive interest income is.

You're stressing yourself when you trade while you could have just bought and hodl your Bitcoin and make the same profits. The highest earners in the history of Bitcoin, isn't the traders but the hodler and they do so with minimum efforts. All you need to hold is just to get a good self constodial wallet to use so your coins don't get exposed to hackers.


While you're talking about hodling altcoins, I just want to put it out there that they're a gamble. Altcoins don't have the same fate as Bitcoin. You can hold Bitcoin and be guaranteed that you'll make profits when the market is bullish but the same thing can't be said about altcoin and how do you do your research to know which one will do well when the ones doing well recently aren't even the ones we would've called the good projects because I see just projects with good marketing teams doing well irrespective of the projects been trashed.

The thing is everyone wants to become trader without knowing the key note and important aspect concerning trading, that is why most people easily lose their money at cause of wanting to make huge profits or to double their money will result them to entire lost. Sticking to bitcoin is more advisable maybe they can gradually engage themselves with DCA, with DCA they can be to accumulate whatever amount of bitcoin they wish to than involving in trading and I still encourage holding.

This liquidation actually happen on the 3rd January when the bitcoin price had a heavy fall from $45k to $40k within few hours due to the rumor that bitcoin ETF will be rejected. The largest single liquidation order was actually reported to have happen on houbi BTC-USDT which was valued at $14.26M. The major thing that I think affected most of this traders that got liquidated was as that they had too much confidence on the market pumping with many going for long trade and forget to set a stop loss.

This cases are mostly common with newbies although even experienced traders got affected to. As for the newbies, one of the most secure thing is to just invest in to bitcoin and then hold for a long time, this is less risky than jumping into trading without proper knowledge

As far as Bitcoin is concerned, I don't encourage trading, whether for beginners or professionals. If you have hit your maximum stash, then you can think of trading, but for the most part, it's just a hobby, so just hodl.

All these losses are because some people just panic at every little shift in expectations, whereas they know too well that they are gambling yet leverage with what they might not afford to lose.

Since we are still anticipating halving, the advice is to just hodl, which the supposed majority of us here already know or are doing already.

It's January 5 and those traders who focus on using leverage are already hitting huge losses when it's not even bear market.
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This happened 2days ago, over $600 million has already been loss few days to 2024. Trading is hard and risky while using leverage makes it more risky especially using high leverages. One reason to avoid trading with leverage is that, these traders suffers more in pump and dump Schemes and also market Manipulations especially those traders who trade meme coins and other altcoins which are prone to this.
The best bet now is to HODL even if you are investing in altcoin find some trusted ones and HODL while if you reduce risk entirely just stick with bitcoin since we have seen alot of altcoins which fail to meet expectations.

Even if you desire to trade just use spot trading or any other offering less risk while when using leverage use small leverages and don't be too greedy to use stop lost and take profit.

Also you shouldn't be disappointed or give up in bitcoin or crypto investment if trading hasn't work for you just try to HODL bitcoin or at least do more proper research on the altcoin you choose to HODL while if you are still have desire to trade, reduce the amount you use in trading, try to avoid risk when necessary and continue to learn to improve your skills and knowledge about trading.