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Apr 16, 2021
9:19:17am
GRCoug All-American
I bought a lot of crypto in the summer of 2017 I got a couple of Bitcoin at
Under $3,000 and I also bought Litecoin and etherium. By December when it had gone up to $19,000 I sold it all thinking it would never go back.

I learned something from that experience though - the wild swings of crypto are not conducive to a buy and hold strategy. I think it would be almost impossible to weather the ups and downs and keep DCA Bitcoin. The biggest reason is the mental aspect of it. When I was holding Bitcoin, every up and down was either excruciatingly anxiety ridden or brought absolute euphoria. I thought about it almost all of the time. I’d wake up in the middle of the night to check the price. Could you imagine if the stock market went up and down like that? People jumping out of windows would be as commonplace as getting the morning news. People say that you should buy and hold crypto but I’d like to see someone who has done it over the last 4 or 5 years - you are constantly thinking about selling.
GRCoug
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GRCoug
Joined
Jan 14, 2009
Last login
May 10, 2024
Total posts
10,040 (36 FO)