Wow, what an emotional and physical turmoil this
"crash" had on me.
Not sure if I can breath a sigh of a relief yet, but feel must more at ease now that we have moved up again.
That morning when I woke up and the price was basically crawling around on the floor it was really tough on me to keep a level head and not to freak out.
I was so close to just unwinding everything I had, taking the knock and walking away. I think the hold mantra and the "this too shall pass" credo on this forum saved me from going through with that final decision. In the end I sold about 15% of my BTC at $730, which I consider a very reasonable price to pay for my newbie schooling. It could so easily have been everything at $580ish.
One of the biggest reasons for me freaking out was that I went from being 30% in BTC, then 50%,75% and then 95%. When I was at 30 and 50 percent the price swings barely raised an eyebrow, but once I was at 95, I just had to stay awake late at night, finger on the button, JUST IN CASE EVERYTHING came hurtling down in the blink of an eye. This was even though I was in it for the long run with all the best intentions of holding.
I personally think one of the forum posters here, Vycid, always has some or other meaningful posts which I seem to take valuable insight away from. I recalled that he mentioned that if you were constantly second guessing your long position, that you had too much invested. This was exactly my problem. I have now brought my position back to about 75%, aiming to bring it down just a little bit more. Although this is still a little bit high for me, but my stress levels is down by about 90%. I can now again see this as an exciting money experiment that I'm conducting with a portion of my money, which would not be the end of the world if it halved or dropped to even 10% of its value (think I would get out before it reached 0
).
All in all, had interesting reflections on how greed and fear operated within me and how easily your emotions can take hold.
In any event, I am ready for which ever direction we move in, because the only thing I'm doing now is holding like a motherf#cker.
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we can use them interchangeably easily enough.
