I guess I don't understand the sell offs at times? Especially, rapid sell offs? Like the amount drops 700-800 within 15 minutes. Why would you purchase Bitcoin for 3-4 days and have your quick thrill and then sell off? Do Asians get so excited and wet.... they can't hold onto anything??? Must hit sell button??? We're all learning as we go along... but there's really no pattern to highs and lows.
I'm understanding the game though.... I'm sure there are a lot of heavy hitters that have 2-3 coins they truly understand.... and they get the system.
For example.... let's say you were convinced BTC wasn't going anywhere and you anticipated these huge drops at times. For instance 17k. So you sold 5 BTC and got 85k for it. On the drop it hits 13.5k... and you say to yourself... well it's time to get my 5 BTC again... so you purchase it at 67.5k giving you a Net gain at +17.5k... not too bad just eyeing one coin. Last few weeks... charts have indicated this...
And what's the worse case scenario? You accidentally sold when the price continued to rise? Well... look at it this way... you either got a huge chunk of cash... or hopefully you saved half of your stash in BTC and didn't go all in (hopefully you tried to middle.) Some of these heavy hitters are so +EV now... they aren't losing out on a small misread. There's a lot of leverage available... if you know how to use it and have the firepower.
So, to respond to your post JP... when you see something drop drastically and all of your resources are in one coin... it's a natural emotion to feel desperate at times. Anyone would freak out over security. Logically, once you get your emotions in check... you could say well... BTC should be the strongest.... it should hold. I'm good. You would only assume over a long period of time.... the top 10 coins will all gain over time? Wouldn't you? I don't believe crypto is going anywhere????!?!!? But this is all new to me.... and from a reality standpoint... is this real? Or am I dreaming? It's a new world for everyone who's doing this.
True, it takes RISKS for HUGE REWARDS.