Even though my investment was fairly low, the profits are now high.
Maybe I should take out a large percentage of my profits? If I do that and it goes up 400% I am in the same boat. More sickness.
I think I'll do my original plan and hodl for more years. Hopefully this will pay off. I need to forget short term and think long term really.
My suggestion to all BTC owners: HoDL! And if you have the skills & guts, trade a little (not too much). As for me, I don't want to trade because I know I'm not good at it.
I will admit that I get a little bit nervous when the price drops more than 20% and even more nervous when the price drops 40%.. and sure, we never know when is the bottom or if we are going to experience a timely recovery.
I would feel even more nervous if my plan was complete HODLing.
Therefore, why not sell a tiny bit of bitcoin on the way up, and it will make you feel a lot better when the price goes down because you can use that money to buy more bitcoin....
So let's say that you only have 5 bitcoins. You could easily sell between .05BTC and .1BTC (1% to 2% of your stash for every $400 to $600 (10% to 15%) that the price goes up.. and if you are worried about selling too many, just buy a few extra (at some point), so you don't worry as much.
Sure we are all going to worry, but there are little individualized strategies to help to make the extremes of the volatility a bit less painful (and in the meantime, you end up making money from the volatility).. as long as you skim off very small amounts of your stash.. whether your stash is only .5 bitcoin or if you happen to have 5 bitcoins or 50 or more bitcoins... or some amount in between.