The Wolf Den #406 - To HODL Or Not To HODL, That Is The Question
thewolfden.substack.com
This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin - up to $3600 worth. PHEMEX is also celebrating their two year anniversary by sharing 2 BTC with 10 lucky winners to help them realize their dreams: https://anniversary.phemex.com/#dream-sectionHODLing is one of the simplest and most effective investing strategies particularly when it comes to crypto. Navigating a nascent market with emotional highs and lows can be challenging, which is why successful communities emerged around the philosophy of "holding on for dear life."(HODL was actually a misspelling of "HOLD" on a message board that went viral, but came to mean "hold on for dear life) We have all heard countless stories of HODLERs making life-changing money by simply tuning out the noise and sitting tight. We have also read the headlines of forgotten fortunes, dug up years later when the price of an asset rose. These stories strengthened the idea that HODLing is all you need to do to succeed.This couldn't be further from the truth.What’s often overlooked and less considered is the dark side of HODLing. This strategy and mentality can be a costly one-way trip to nothing town.First, you have not "made a fortune" until you have taken profit. Outside of a few select lifetime investments, most assets that you are HODLing should eventually be sold (even if you sell into Bitcoin).That said today is the right time to consider what you are holding onto and what you need to let go of. It’s not because today is a special day or the start of the new year. It's because today is your first available opportunity to release the baggage that you should have dumped a long time ago. Coins that were once the gold standard in 2017 make up a large percentage of coins that today may no longer be relevant.TO BE CLEAR, I am NOT talking about Bitcoin and Ethereum or any of the projects that are currently developing and thriving! I am talking about the coins at the bottom of your portfolio that are utterly irrelevant today.Sellers make the price go down, so of course the loudest people in the room will be those recommending HODLing. It’s also a great tool for larger market players to manipulate retail who are susceptible to making emotional decisions. I too recommend most people to HODL, but will never advise you to weather the storm of a losing battle. You have to learn to cut your losses. If you didn't cut the loss early that’s okay, but take this as your sign to consider doing so at some point in the future. It’s time for some of these to go. In this case, the first step to victory is admitting defeat. In This Issue:To HODL Or Not To HODL, That Is The Question Bitcoin Thoughts And AnalysisAltcoin ChartsLegacy MarketsI Wrote A Blog On MemesBitcoin Had Another BirthdayMelania Trump Loves Bitcoin?The Wolf Of All Streets Podcast Ft. Sam Bankman-FriedMy Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO
The Wolf Den #406 - To HODL Or Not To HODL, That Is The Question
The Wolf Den #406 - To HODL Or Not To HODL…
The Wolf Den #406 - To HODL Or Not To HODL, That Is The Question
This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin - up to $3600 worth. PHEMEX is also celebrating their two year anniversary by sharing 2 BTC with 10 lucky winners to help them realize their dreams: https://anniversary.phemex.com/#dream-sectionHODLing is one of the simplest and most effective investing strategies particularly when it comes to crypto. Navigating a nascent market with emotional highs and lows can be challenging, which is why successful communities emerged around the philosophy of "holding on for dear life."(HODL was actually a misspelling of "HOLD" on a message board that went viral, but came to mean "hold on for dear life) We have all heard countless stories of HODLERs making life-changing money by simply tuning out the noise and sitting tight. We have also read the headlines of forgotten fortunes, dug up years later when the price of an asset rose. These stories strengthened the idea that HODLing is all you need to do to succeed.This couldn't be further from the truth.What’s often overlooked and less considered is the dark side of HODLing. This strategy and mentality can be a costly one-way trip to nothing town.First, you have not "made a fortune" until you have taken profit. Outside of a few select lifetime investments, most assets that you are HODLing should eventually be sold (even if you sell into Bitcoin).That said today is the right time to consider what you are holding onto and what you need to let go of. It’s not because today is a special day or the start of the new year. It's because today is your first available opportunity to release the baggage that you should have dumped a long time ago. Coins that were once the gold standard in 2017 make up a large percentage of coins that today may no longer be relevant.TO BE CLEAR, I am NOT talking about Bitcoin and Ethereum or any of the projects that are currently developing and thriving! I am talking about the coins at the bottom of your portfolio that are utterly irrelevant today.Sellers make the price go down, so of course the loudest people in the room will be those recommending HODLing. It’s also a great tool for larger market players to manipulate retail who are susceptible to making emotional decisions. I too recommend most people to HODL, but will never advise you to weather the storm of a losing battle. You have to learn to cut your losses. If you didn't cut the loss early that’s okay, but take this as your sign to consider doing so at some point in the future. It’s time for some of these to go. In this case, the first step to victory is admitting defeat. In This Issue:To HODL Or Not To HODL, That Is The Question Bitcoin Thoughts And AnalysisAltcoin ChartsLegacy MarketsI Wrote A Blog On MemesBitcoin Had Another BirthdayMelania Trump Loves Bitcoin?The Wolf Of All Streets Podcast Ft. Sam Bankman-FriedMy Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO