Topic: Too many chickens own BTC. Don't be a chicken, HODL! BE A LION. - page 2. (Read 1054 times)

Sorry about that but it's not that late at all. You can still make it no matter what happened last year, you can comeback anytime and start again from the beginning.

I was a chicken before and then I've started to learn a lot from the market and also from my own experiences. It was tough and hard but all good and relieving when you get back on track.

Those that have sold at the peak, they're also lions, they just have to buy back at a lower price and then they're good on track again. Easy on them.

When it comes to money then we are really that impulsive and really that emotional even you do say for yourself that you arent a chicken but with the current things that you've been dealing with or possible

scenarios that you might faced up along the way might really be affecting you in every other way around.Even how hard or how many times you would be making up recommendations and suggestions.

There would be always those people who would really be doing actions which are really that common like sell on loss on the time they are seeing the market is declining
which is really that dumb as we do all know.

Exactly. Just like what my favorite youtuber said, you can't change someone's mind by trashing on their opinion, which in this case is whether they should sell or buy. There's always going to be people who will buy and sell bitcoin, otherwise the economy wouldn't really work. And you are right, you can't blame people for being emotional over their own money, especially if it's something that they've worked hard for. What should be done is aggressive educational information that people could use in order to shed light on the situation and better equip them in situations like this. What should be controlled is FUD, not how people react to it. This discussion will never stop as long as bitcoin is running, there will be people who are very wary of their own money and there are those who take more risks than everyone else.

The day this post was published, the price of bitcoin fell as low as $15,000. This wasn't a flash crash, but rather FUD that caused many traders to sell their positions and close them. Today, the price of bitcoin is trading at around $17,000. This represents a 2-k profit for traders with large amounts of capital, such as margin and futures traders. I am aware that there is much to gain from holding bitcoin for an extended period of time while ignoring fears, doubts, and uncertainty, but trust me when I say that a skilled trader would rather profit from market trends than hold.

And again, if I had the guts to hold onto Bitcoin from 2013, by this point I would have a solid understanding of how the markets operate and would sell at a price around $60k, see what happened, and then buy it back, or sell half and buy it back to have more bitcoin.

I disagree about your explanation that chickens are the reason behind this drop. I would say it was caused by pigs. Greed got companies playing musical chairs with each others funds in a game of curclejerk that ended in nobody having a place to sit. Their overleveraged bets are now forcing them to sell, not fear. Retail investors with a small leveraged position may have fear that they’re selling to run from, but the reason for this drop is most definitely not scared retail sellers.

Holding is definitely good but its not bad to take profits while the price is near ATH.
Over the years we have seen bitcoin breaking every ATH but at the same time we have also seen it dumping after ATH as well.
So selling some near the ATH and buying back later is not a bad strategy in fact it increases our stack.

Loose hands are holding bags and any FUD at all makes these guys sell at lowsy prices. On the one hand, this is not helpful at all and makes it hard for stability, but on the other hand it allows us to purchase bitcoin  at cheap prices.

Unfortunately, I was the chicken. I haven't earned back what I lost last year. How much I regret that decision.

That's the disadvantage if you don't know what you're investing, surely those people who gave up easily and sold their assets low while buying at a much higher price don't really know what they're into and did not researched well. Sometimes, people are just riding the hype because they saw some people getting rich out of it but they don't know how long it took them to get at that point and then there they are, buying without getting some firsthand knowledge.

The market consist of both the bear and bull movement. It's only a matter of time for one to choose the market that's most favourable for oneself. Selling is one's choice and also holding is also one's personal choice. Bitcoin brings profits in either ways. There's enough categories for investors and traders to gain profits from bitcoin. Although the market is currently passing through the bear season with countless failed projects but bitcoin still stand out and it's still top, despite the red long candles everywhere on the charts.

Retail will never understand how the whales are cheating them and making them sell low and buy high.

As you may have noticed that in the bear market you will always find bad news about bitcoin and crypto. Most of this news are created by the Whales so that the retail investor get panic by hearing these news and sell their holdings of bitcoin. Have you ever thought that when the retailer selling who is actually accumulating and buying bitcoin? For sure it is the whales and big investors who want to buy bitcoin at cheap rates and only with they can bring the price back is to create a panic in the crypto world.

Fact is if the weak hands dont sell, the whales get nothing to buy at a discount, so as long as there are weak hands there will be whales and the speculative market will continue like usual. There is nothing about being a chicken as long as you are making a profit. I too consider people to have their own opinions and exercise them freely.

Often people are in dire need of money and they have to sell at losses, you have to blame the circumstances for that not a wronged decision. Now there are people who are selling at loss because they are sick of holding after buying at a high, these people have made a mistake in trading at the wrong price, so they learn their lesson.

If they are not confident, they should not decide to invest in bitcoin because before they decide to invest in bitcoin, they should have researched more information about what the benefits of bitcoin are for them. If they only follow what others suggest and don't look for other information, it can cause them to be insecure and panic if something bad like a price drop occurs. But those who already understand the risks of investing in bitcoin will not panic and can keep holding their bitcoins because they know that the price will increase again.

It’s okay because not everyone is as confident in their decision making skills as you may be. Everyone has a different goal so we need to respect that. Those who wish to hold, should continue and those who want to sell, should do as they please.

BTCitcoin is created to be used as a currency and not to HOLD till eternity. You are contradict your statements, if 1 BTC = 1 BTC then what is your point of holding and not using it as a currency  .


I wish there are more users that use them as a currency rather than a speculative asset. So you claim that you are a $100k chicken because you would eventually sell only at that valuation  . There is nothing wrong in being smart and taking advantage of the market situation and play by the simple rules of buy low and sell high.

I doubt it's possible for people to "wake up" in general. Even for me to change my mind about something I'm pretty set on, not possible except in the wildest of circumstances. Sort of why I don't think awareness is useful (everyone protests and says it's for awareness but I think it's apathy really that's the problem).

In any case, good luck with being a lion. And yeah, spend, when you can. Bitcoin's true value is helped on by all of us continuing to use it.

You spoke my mind aptly.
Selling doesn't make anyone a chicken and hodling doesn't make anyone a lion either.

Another angle to it is this, what if everyone decides to hodl on to a particular cryptocurrency asset, it definitely will not be healthy for such project. People needs to sell, so that others can find an entry to buy more.

Moreso,. people have their individual reason for investing in an asset, so, when they achieve that aim, they could sell and leave.

I agree with this. Investment and emergency needs should be in a different portfolio and not mixed with each other, moreover, I seriously do not think that people will invest to save or thinking of their investments as a savings that they will dig if there's an urgent things. It should be in a different folder, just like your basic needs and monthly bills.

I'm pretty much like OP. I still have coins that I got in 2015 and sold maybe 20% of my holdings between 2017 and 2021. I haven't sold anything for almost a year and if bitcoin never goes above 30k again, I don't think that I'll sell anything. I'm not saying that I won't do it for sure because if I find myself dying and in need of expensive medicine or procedure, I'll sell some. You can't make any money if you're dead.

My plan that I've followed for the last 8 years remains the same. When bitcoin is above the ath from last cycle I start spending my coins buying the things that I need and building up my cash reserve. Each time bitcoin breaks a significant round level above the last ATH I repeat the process, but that's never more than 10% of my coins each cycle, which is why I still have most of what I got in 2015 and 16.

I'm not a trader. Holding coins on exchanges always felt risky to me which is why I only send the money I'm willing to convert and do it right away.

People have different goals in life. Some want to make the most fiat money out of their bitcoin in the shortest amount of time but others want to hold bitcoin as a safe alternative that also appreciates in value. I could sell a few coins and buy a lambo, but I don't need it. I live in an area where you need a good pickup truck with 4x4 and not a sports car. I don't need designer clothes or my own swimming pool. I feel better and more confident holding bitcoin than spending it.

Most people know that valuation of 1BTC is always 1BTC but they easily forget this and the fact that one day the cycle will start to reverse. For them the immediate value in fiat is of more importance. This is the reason why most people find trading a speculative asset.

Even then there will be a niche of users who are regularly trading and these people are the ones making the big profits with every good/bad news. Holding and having patience works a great deal in such times. Lack of patience leads to losses.

Sadly most of the people getting into crypto lack patience and thus the crashes that happen with weak hands selling.