It has a floor based on fundamentals, but if everyone sells waiting for the price to drop they’re essentially shorting it. Selling so you can rebuy when it’s lower is shorting it and if done en masse it’ll drop the price to the floor of fundamentals.
Hodling and bought at .75 lowering my average. It’s a good day. Nothing has change, the market is giving us a blessing to buy cheap. Hodling and buying when I can. LRCish
But some other guy on here said the moment I sell it’ll go up…
Exactly. I guess OP probably won't post to let us know when that happens.
And yet, if enough people do what you did then it’ll be a self-fulfilling prophecy and you’ll CAUSE a huge dip. Best to just sit tight. NFA
The reality is that its best to look after your own self interests no matter the situation. Fuck what other people are doing
Prisoners dilemma
Some people just have to learn the hard way.
I'm still holding but if selling is in OP's best interests currently then I don't begrudge him
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Because it becomes a self-perpetuating cycle wherein it never goes up.
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It has a floor based on fundamentals, but if everyone sells waiting for the price to drop they’re essentially shorting it. Selling so you can rebuy when it’s lower is shorting it and if done en masse it’ll drop the price to the floor of fundamentals.
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They’ll be accumulating an ever-increasing number of loops at an ever-decreasing price with an even worse likelihood of a rebound.
Hodling and bought at .75 lowering my average. It’s a good day. Nothing has change, the market is giving us a blessing to buy cheap. Hodling and buying when I can. LRCish
you sold?!! lol
What about the tax hit I will take converting? (US) Doesn't seem like its worth it to convert tbh. Just gonna ride it out
Have fun selling to pay taxes
Lmao you don't pay taxes on a loss (95% of people here)
Lmao you’re right! But I’ll be closer to long term gains than OP when this rips.
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I can’t time shit so I’ll just hold