I hate my life.
may I ask: why did you sell all of them?
I admit to having sold some just 2 days ago. More than I ever sold, maybe about 5% of my stash.
And even that will probably make me feel bad on wednesday.
I take it you viewed bitcoin as "a way to make money"? Well, you did make money, didn't you? And that's what you wanted to achieve. So why do you feel like shit now?
Imagine it goes up further... if you get back in, you've only missed a little bit of the runup. If you don't and it goes up to 1 gold bar, you'll probably hate yourself even more.
When making a decision (like should I sell or should I buy) while you are missing some information (like: is bitcoin going to go up or down) there is an easy way to come to help come to a solution:
Imagine each of the 4 possible scenarios and evaluate how bad/good the result would make you feel:
(replace either buy or sell with "do nothing" depending on your situation)
- 1.) you buy, bitcoin down
- 2.) you buy, bitcoin up
- 3.) you sell, bitcoin down
- 4.) you sell, bitcoin up
The evaluation depends a little bit on your preferences. I, for one, want to avoid feeling really really bad, so I try to avoid option 4.) because selling bitcoin and seeing it go up when you believe in it would be just gut-wrenching.
Option 1.) would also make me feel bad, but clearly not as bad as 4.). I have long regained the fiat I put into bitcoin (way too early, btw) so I could tell myself: "nice try, too bad it didn't work, let's try the next thing" in case of a Bitcoin failure (yea right!). 1.) would mainly make me feel bad because all my friends and familiy who have been repeatedly and strongly suggesting to me to "sell all my stash" would then tell me: "see, I told you so, why didn't you sell, you idiot, you could've had this much fiat, now you have nothing".
Also on the good side: 2.) would make me feel better than 3.). So I'm clearly biased towards 1/2 (buy) and that's what I mainly did (hold 95%)
Well anyhow, maybe this helps someone making decisions without having sufficient information.
You have to live with the consequences of your actions, so why not do some simulations in your head of the different possible outcomes.
And yet another very good advice by lucif: If you're emotional and you're lacking coordinates, DON'T DO ANYTHING. Go walk the street, sleep or whatever until you have a clear view. Then make a new plan.
