If you've ever bought an Altcoin, an NFT, or participated in a project within the Crypto universe that no longer has the same relevance, or no longer exists, you've probably wondered: "Why are some things so hard to sell?". Come discover the reason for this and some tips that can help you reflect on the current situation to make a decision.
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Why is it so difficult to sell?
It's very curious, because even though you see several signs that continuing to buy that token, that NFT, or participating in that project is no longer as worthwhile as before, you end up continuing, having great difficulty understanding that it's no longer the same, that the reasons that led you to participate or buy that crypto/NFT are no longer there.
But why is it so difficult? Thinking about it, as I write, I've come to some conclusions about why it's so hard to let go of something. The main reason, I believe, is the dominance of your emotions over your rational side. Since many projects within the crypto universe lack high liquidity or a large initial investment, development takes longer than usual, as there's often no large company behind it funding everything. This leads even large projects today to call themselves in BETA, even with the product working.
Thus, because projects take time to develop and bring new features due to a small team, you end up waiting a long time, and in the meantime, you become a defender of the project since you've invested one of your greatest assets in it: your time. Furthermore, if it's a game or has a community, you end up making friends and acquaintances along the way, which further ties you to the project and hinders your rational side from making a decision based on facts, as emotion enters the equation.
A great example was the NFT craze that occurred a few years ago. During that period, Bored Apes emerged, selling for hundreds of thousands of dollars; today, they have a floor price of $12,000. There are now over 5,000 unique owners of these NFTs, who witnessed the price peak, planned various future investments, and created a united community for those who held the NFTs. All these factors led them to hold these NFTs until today's price.
How to Get Rid of Bad Investments?
It's extremely difficult to let go of a project you've developed an emotional attachment to, because even knowing what needs to be done, it still demands a great deal of energy to break free from the inertia that arises and take action. However, even though it's difficult, the first step is to write it down. Humans are not capable of keeping up with all the information; at any moment the crypto landscape can change and impact the project, the global scenario can change and affect the crypto landscape, so you should initially dedicate time to noting as much as possible about the project's current situation and what is or could affect it.
With the information noted, it's time to rationally analyze whether the project has lost its initial characteristics that made you participate in it or not. At this point, there are some interesting questions you can ask yourself to find the answer. The first is "If you were encountering this project/crypto/NFT today, would you choose to participate in it?", this will give you a very direct answer. In addition, you can also ask yourself "Would you recommend it to a close friend?", making you think about whether it's a safe and good project for a friend.
If you conclude that the project today is no longer the same and that you wouldn't join or recommend it to an acquaintance in the current situation, know that it's good to stick with good projects and not get attached to bad ones. In this situation, you can think about what you would do with the same energy dedicated to this project elsewhere; if it's better, then the answer is already on its way. It's very much in line with the saying: "past profitability is no guarantee of future profitability." The past and the beginning of a project don't guarantee that it will continue the same way in the future, so it's important to do twice as much research to prevent this from happening again.
