If your plan is to HODL please make sure you are aware what that means

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TL;DR: it’s very important to stick to your plan and be fully aware what it means.

The most important part is to always have a plan. A lot of people follow the HODL strat and “I’m never gonna sell it’ll go back up again” mentality. It makes sense, it’s a good strategy but please be aware of what can happen. Let me give you an example.

The 2017 Incident

Imagine you bought around the ATH in 2017. 10-16.000$ back then. After 2017 a bear market hit. And it was a brutal one for the mentality of a lot of investors. -90% investment on BITCOIN not just alts. And this wasn’t happening in a couple months it happened over years.

Fast foreword it’s 2019 and BTC is currently at 9k again. You hope for a new ATH to cut your losses or at least break even and what happens? It goes back down again. It’s 2020 and BTC is still at 9000$. It’s been nearly 3 years now since you bought BTC and your portfolio was always in a loss. And now Covid happens. BTC falls towards 5000$. All that with the years of mentality “Will it ever hit 10-16k again?”

If you managed to even hold through that time after 4 years you finally get rewarded. The next big bullrun hits and it was the biggest that ever happen. In a matter of weeks BTC doubles. After that it doubles every couple weeks. New all time highs every week reaching up to 60k+

If you managed to HODL through those years congratulations you just 6-8x your initial investment. I’ve been through this time and I can promise you the majority of people with that HODL mentality gave up and sold eventually. It’s rough and not as easy as a lot of people think.

submitted by /u/TarkovReddit0r
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