Never Marry a Coin/Project - Practically Example

[sokani]

This is his own story. Most of us are blaming him probably because of the size of his investment and how much has come back as profit at the time which I think is not more than 1,000 percent increase. So just like him, some of us here too have been such a "fool" to the marriage op is talking about. I believe we have invested in cryptocurrency and at the long run fell on the bull trap. I have read some stories like that and that will keep happening when we are greedy and estimating the range we want price to get to before getting out but we are blinded by greed from seeing that the price have been overwhelmed, over stretchd or oversold of which the next step is retracement that you never can tell the support area. Always trade with the chart and and nothing wrong with running away with profit to have your peace. I don't wish to lose that much, hell no.

There are instances where some persons might be caught up in a bull trap but this is totally different. How can someone buy a coin at $250,000 and after a short time it got to $3,000,000 and it never occur to him to take profit? Mind you dogecoin didn't just fell drastically to where it is today. When the bear hit the market, the price started dropping off gradually and if he was wise he would have sold the coin and waited for it to fall to a bottom price and then buy and hold for the bull season. He was just blindly married to the coin that kept holding unto it and I'm certain he regrets his decision.

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[DanWalker]

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These kind of acts do really shows that people are really that greedy! We are hoping for more and despite of saying that we do support the project but its impossible to deny that making profit
is what we are really that mainly aiming which its normal.It is really just that people do make out different decisions on a particular time or condition which neither it could be considered
to be a good or bad hit or such action.

You have a point there, many people are holding junk altcoins, and they always say they are supporting the project, but the truth behind it is that they have become too greedy and are paying a pretty heavy price and becoming reluctant holders. Indeed, other than those who are embracing bitcoin as a currency, no one in this market is kind enough to say they are supporting the project. We all have a single goal of making as much profit as possible, we have never intended to support any project. I would be suspicious if someone said they don't care about profits and just want to support the project. Because we all know that this is a financial market and there will be winners and losers.

[cryptomaniac_xxx]

This is his own story. Most of us are blaming him probably because of the size of his investment and how much has come back as profit at the time which I think is not more than 1,000 percent increase. So just like him, some of us here too have been such a "fool" to the marriage op is talking about. I believe we have invested in cryptocurrency and at the long run fell on the bull trap. I have read some stories like that and that will keep happening when we are greedy and estimating the range we want price to get to before getting out but we are blinded by greed from seeing that the price have been overwhelmed, over stretchd or oversold of which the next step is retracement that you never can tell the support area. Always trade with the chart and and nothing wrong with running away with profit to have your peace. I don't wish to lose that much, hell no.

There are instances where some persons might be caught up in a bull trap but this is totally different. How can someone buy a coin at $250,000 and after a short time it got to $3,000,000 and it never occur to him to take profit? Mind you dogecoin didn't just fell drastically to where it is today. When the bear hit the market, the price started dropping off gradually and if he was wise he would have sold the coin and waited for it to fall to a bottom price and then buy and hold for the bull season. He was just blindly married to the coin that kept holding unto it and I'm certain he regrets his decision.

As explained, he thought that it can still go higher to $1.00 = 1 Doge. But it turns out that he is very wrong. And we all know that we can't really predict how the market is going to be, and in some instances, luck plays a big role.

And in this case it did, as we has able to invest before the whole Elon Musk influence on Doge. But nevertheless, he might have lived on fantasy at some point and thinks that he can still make more profits out of it, which turns out to be wrong and now he has to wait again for the price to go up in the next bull run and hopefully this time he makes the right decision.

[usekevin]

What a big mistake from that guy. Even with that $250k, if it's me I guess I'll take profit when it doubles and becomes $500k. But he did really give himself the space for greed and thought himself that he's cool by just holding it for too long. Remember that this market is totally brutal for most of the altcoins. It's totally fine if it's with bitcoin because it's for sure going to recover but uncertain with Dogecoin. We knew it that it had become a trend because Elon gave it space to his own platform and kept on tweeting about it. But we're seeing that without him shilling it, Dogecoin remains to be the funniest meme coin that it has ever been but investing wise, it's not.

The trader should handle their emotion in the trading,because the price pump may make the trader greedy.Since the price was increased to the value of hundred percentage from the original value,the trader may get greedy to more profit.But the cyclic pump of the coin may over and back to the old value by the panic seller.Since the coin was the random coin,the investors will cash out at the all time high.The trader should ready to face the all time high and get the bag full of profit at the pump.

[Hamphser]

This is his own story. Most of us are blaming him probably because of the size of his investment and how much has come back as profit at the time which I think is not more than 1,000 percent increase. So just like him, some of us here too have been such a "fool" to the marriage op is talking about. I believe we have invested in cryptocurrency and at the long run fell on the bull trap. I have read some stories like that and that will keep happening when we are greedy and estimating the range we want price to get to before getting out but we are blinded by greed from seeing that the price have been overwhelmed, over stretchd or oversold of which the next step is retracement that you never can tell the support area. Always trade with the chart and and nothing wrong with running away with profit to have your peace. I don't wish to lose that much, hell no.

There are instances where some persons might be caught up in a bull trap but this is totally different. How can someone buy a coin at $250,000 and after a short time it got to $3,000,000 and it never occur to him to take profit? Mind you dogecoin didn't just fell drastically to where it is today. When the bear hit the market, the price started dropping off gradually and if he was wise he would have sold the coin and waited for it to fall to a bottom price and then buy and hold for the bull season. He was just blindly married to the coin that kept holding unto it and I'm certain he regrets his decision.

As explained, he thought that it can still go higher to $1.00 = 1 Doge. But it turns out that he is very wrong. And we all know that we can't really predict how the market is going to be, and in some instances, luck plays a big role.

And in this case it did, as we has able to invest before the whole Elon Musk influence on Doge. But nevertheless, he might have lived on fantasy at some point and thinks that he can still make more profits out of it, which turns out to be wrong and now he has to wait again for the price to go up in the next bull run and hopefully this time he makes the right decision.

On the time that you do get FOMO on the time that it had been that being be able to pump just because of some person like Elon and then the hype builds up then pretty sure you would really be having those impressions that you should be needing to hold it up until it would reach a dollar a piece but this is where people do commit out mistake on which they didnt even trying to think basing up on the overall supply
and to those presumed values which those marketcap would really be able to surpass Bitcoins MC which we can say that it cant really be that impossible on that case but once you are on the situation where you've seen your $250k investment turns out to be millions then it wont really be that so easy for you to get out on the feeling on getting hyped.

This is why tons of people would really be missing out the opportunity on selling out when its really that on that peak or they are already on huge profits and this is something
that people should be minding on on which you should set out targets in speaking about profits because if you do hold and miss out a cycle then waiting for another one would really
be long and not all would really be having the patience on doing so.

[JoyMarsha]

All I can say is that if he hasn't sold the dogecoin he's holding, he can still get back the 3 million dollars, as if the battle isn't over yet, and I don't see any portion that he has lost or lost from buying that dogecoin. But if he has sold that profit, I can say that Glauber really lost.

But like I said, if it hasn't been sold yet, maybe when the bull run comes, it will exceed the 3 million dollars that happened before, when it should have a profit. So just hold for now until bull season.

If he can hodl his dogecoin from the last bull run till now, he's probably going to wait to the bull run happens before he can sell his dogecoin.
I find a surprising that someone can hodl onto a coin that gave him millions of profit and he refuses to take profits but decides to hodl onto the coin until this moment. That's interesting but a big mistake was it.
He should be praying to his God in his quiet moments so that his beloved "dogecoin'' will give him the same profits back again in the upcoming bull run.

[KingsDen]

According to the screenshot and his tweet, His 3M is now 21K and the last screenshot show it's only 6K.

This is not possible.

Doge ATH is $0.74
Doge price today is $0.062
That is a loss of 11.935x
$3 million when doge was $0.74 would be $251361 by now when doge is $0.062
So now loss.

This calculation did not cover his entry point. You should be able to know the point at which he bought to be able to know the losses. Speaking from the screenshot, he is already at lose. Myself, the doge coin crashed on me and I am at about 70% lose. So, there is  no how he will not be at lose. With all indications, seems he joined after the coin was first pumped.
Meanwhile, it is possible that dodge may see $1 during the bull run. There is hope, but then he made a huge mistake. You don't hold on for long to what is not bitcoin.

[lalabotax]

The big lesson here is to never marry a coin, no matter how good you think the project is, be it
Bitcoin
Ethereum
BNB or any other, always take profit.

Some advice that we should listen to and do when investing in cryptocurrency is:
1. Invest the amount that you can afford to loose.
So that when you suddenly lose the money due to something or you are late in taking profits, you will not feel too much underpressure and can move on quickly to maintain our mental health.
2. Don't put your money into one bag
In this case, diversification when investing in altcoins is very necessary. This is related to the advice from the OP above, that don't marry a single altcoin, because no matter what, we have to survive if the coin drops very drastically, this is also a form of good financial management.
3. Don't be greedy.
When you feel you have met your target, then you can take profits both overall and in several stages. So you can still enjoy the results of your investment at a certain time. It's okay to hope for more, but don't be too greedy, because no one knows the most accurate prediction for the coin price. When we are too late, we will regret it.

[Viscore]

Know your limits. Never marry a coin and expect like everything will definitely happen according to your plan. The whole crypto market is so much volatile that you can’t even assure that these profitable coins today will stay be in the same position tomorrow. Once you invest, invest an amount that you can afford to lose, and when you see your investments are showing significant profits, learn to sell them and make profits, otherwise forever hodling might only end up in zero value as we don’t hold what the future events may bring.

[goaldigger]

Know your limits. Never marry a coin and expect like everything will definitely happen according to your plan. The whole crypto market is so much volatile that you can’t even assure that these profitable coins today will stay be in the same position tomorrow. Once you invest, invest an amount that you can afford to lose, and when you see your investments are showing significant profits, learn to sell them and make profits, otherwise forever hodling might only end up in zero value as we don’t hold what the future events may bring.

Better to be more realistic and if you are trading, you must know when to sell it and take the profit. The market can become more unpredictable and if you wait longer, you might miss the chance of taking the profit. Well, this is normal to those who can’t handle their emotion but hopefully, since you are already here in the forum you should already know how to manage it and be more professional when it comes to trading and investing.

[xSkylarx]

Know your limits. Never marry a coin and expect like everything will definitely happen according to your plan. The whole crypto market is so much volatile that you can’t even assure that these profitable coins today will stay be in the same position tomorrow. Once you invest, invest an amount that you can afford to lose, and when you see your investments are showing significant profits, learn to sell them and make profits, otherwise forever hodling might only end up in zero value as we don’t hold what the future events may bring.

Better to be more realistic and if you are trading, you must know when to sell it and take the profit. The market can become more unpredictable and if you wait longer, you might miss the chance of taking the profit. Well, this is normal to those who can’t handle their emotion but hopefully, since you are already here in the forum you should already know how to manage it and be more professional when it comes to trading and investing.

When you are already having profit our greed will take over making you want to have more profit and not take the profit first as you want to wait more. This is really the problem we are not able to control our emotions and after the price drops and we are unable to sell that is the time we regret it. We will learn a valuable lesson that time for sure and next time that it happens again we should need to get our capital, withdraw some profits, and let our other profits continue if the price reaches some level so that we are safe.

[CarnagexD]

I've learned my lesson in the past. Back in 2017, during the first bull run I experienced, I was overly confident that it would reach my target price, but it didn't happen. It turned out to be a scam. I could have made a good amount of money if I had sold, but I consider it part of the learning experience. What matters is that I was profitable overall during that time.

Investing is indeed a gamble, and since we cannot predict the future, it can lead to either failure or success. What's important is that we can accept what happens and continue learning from our mistakes. I once read an article about an early investor in Bitcoin who was delighted to have sold his Bitcoins at $10 each. If he hadn't bought back in, he might be regretting it now, given the current high price.

The anecdote about the early Bitcoin investor highlights the unpredictability of the market. Timing is often a matter of luck, and even those who sold their holdings at lower prices can't predict how the market will evolve. Your ability to approach investing with a balanced perspective, considering both successes and challenges, is a valuable trait for any investor. Keep learning and adapting, and you'll be better prepared for the opportunities and challenges that lie ahead in the world of investments.

I think what is needed is risk managgement. It's okay not to get all the possible profit. But also to not lose money from the first place. It's a great feat actually to celebrate even if you're just breakeven as long as you're not losing money.

[Distinctin]

This proves that greed will never put you on top of the situation but will only ruin everything you have. If you know the essence of investing, you should know how to sell when there are profits in front of you. Long term hodling is either good or bad. You might be getting the biggest value of your investment or the other way around, you will end up investing for nothing. But for him, he’s a proven example of never marry your coins. Now he’s totally at loss and is surely regretting of his so wrong decision.

[el kaka22]

It really makes no sense at all to do something like this. I am not saying that it doesn't make sense just for investment world neither, it doesn't make sense that he kept holding something called "dogecoin" and that should be laughable enough. The fact that it went from 250k to 3 million dollars is already a huge enough deal if you ask me, it really doesn't feel like that would make any sense at all.

I hope that people could get better help and we will not see anything like this again. I do not think that it makes sense for people to spend their hard earned money on something like this, and they should totally be getting out of it as soon as they possibly could and not own any. This is not a serious investment at all.

[milewilda]

Know your limits. Never marry a coin and expect like everything will definitely happen according to your plan. The whole crypto market is so much volatile that you can’t even assure that these profitable coins today will stay be in the same position tomorrow. Once you invest, invest an amount that you can afford to lose, and when you see your investments are showing significant profits, learn to sell them and make profits, otherwise forever hodling might only end up in zero value as we don’t hold what the future events may bring.

Better to be more realistic and if you are trading, you must know when to sell it and take the profit. The market can become more unpredictable and if you wait longer, you might miss the chance of taking the profit. Well, this is normal to those who can’t handle their emotion but hopefully, since you are already here in the forum you should already know how to manage it and be more professional when it comes to trading and investing.

When you are already having profit our greed will take over making you want to have more profit and not take the profit first as you want to wait more. This is really the problem we are not able to control our emotions and after the price drops and we are unable to sell that is the time we regret it. We will learn a valuable lesson that time for sure and next time that it happens again we should need to get our capital, withdraw some profits, and let our other profits continue if the price reaches some level so that we are safe.

And this is the most hardest thing that you would really be able to control on the time that you are seeing that you are making profits or gains on which you would really be asking for more and this is something that you would really be that able to experience or encounter which if you dont have that good self control or discipline then most likely you would really be ending up on holding.Who doesnt really want on getting rich?
For sure you would really be aiming on holding for long years because we've seen that there are people who do become multi-millionaires on a short or couple of years or 5 years or more on just simply holding and
this is why we cant really remove into our minds about those probabilities and this is why we do really try to mimic out and believe that it would really be just that the same on what we are really that trying to do
and this is why we do end up on holding even more.

[serjent05]

This is why in every investment, there is a need to set a target selling price. I do not think the person stated by @OP married the coin/project or whatever@OP means by holding it and not selling the coins.  I believe he just set his selling price at $1 and since it is not met, he has no choice but to continue hodling. 

I believe one lesson here to learn is that we should set a realistic selling price.  The price within the range of reality and if we wanted to take another profit for the coins, we can always invest again when its market revisit the bear market.

[GreatArkansas]

I can really relate here. I remember my early days in the cryptocurrency market. I exchanged my Bitcoins to these random altcoins, which instead of just taking profits from my Bitcoin profits or just hold it only for Bitcoin, I should've become more profitable instead and not losing a lot.

[lienfaye]

This is why in every investment, there is a need to set a target selling price. I do not think the person stated by @OP married the coin/project or whatever@OP means by holding it and not selling the coins.  I believe he just set his selling price at $1 and since it is not met, he has no choice but to continue hodling.  

There's nothing wrong if you have a set target price on when to sell BUT don't forget to take profit at times. In this case, the guy became greedy even he already made a huge profit from his initial investment. He chose not to sell and wait, not knowing the price of Doge will plunged after hitting an all time high.

I also have regrets in the past due to greed. That's why if there's a chance to take profit, I don't hesitate selling some to enjoy what I gained. Moreover, I learned not to hold and rely on coins that have no real use case because the profits are not guaranteed.

[OcTradism]

I can really relate here. I remember my early days in the cryptocurrency market. I exchanged my Bitcoins to these random altcoins, which instead of just taking profits from my Bitcoin profits or just hold it only for Bitcoin, I should've become more profitable instead and not losing a lot.

Altcoins look very promising and attractive because they can rise 100%, 200% within 24 hours or a few days. With Bitcoin, it won't happen with its big marketcap nowadays. Newbies are disguised by such big rises within short time but they don't know risk with altcoins are very big, bigger than Bitcoin.

Even Proof of Work altcoins can die with time so other types of altcoins that can be minted, without Proof of Work, are very risky. They can be dumped by founders, developers and can be abandoned when the market trend is gone. Developers will come back to create new altcoins that match with a newest trend. Old altcoins will be dead ones and investors will only can look those altcoins in their wallet, without value on cryptocurrency market.

[arwin100]

This is why in every investment, there is a need to set a target selling price. I do not think the person stated by @OP married the coin/project or whatever@OP means by holding it and not selling the coins.  I believe he just set his selling price at $1 and since it is not met, he has no choice but to continue hodling.  

There's nothing wrong if you have a set target price on when to sell BUT don't forget to take profit at times. In this case, the guy became greedy even he already made a huge profit from his initial investment. He chose not to sell and wait, not knowing the price of Doge will plunged after hitting an all time high.

I also have regrets in the past due to greed. That's why if there's a chance to take profit, I don't hesitate selling some to enjoy what I gained. Moreover, I learned not to hold and rely on coins that have no real use case because the profits are not guaranteed.

A good example that greedy people will regret their decisions made. Since we are in crypto everything is unstable here so its not good to hold any altcoin especially it reached for another record breaking all time high again. People need to realize the mistake made by this people and learn not to be greedy then take profit on e there's opportunity. I'm so sure that this guys feel sorry for their selves and learn a lesson from the mistake they made.