A big drop in crypto markets yesterday. 20% or some even more. A lot of my friends in crypto were panicking and some even sold. All this does is follow the market. If the market is falling and you sell, you are making the markets fall that little bit more.
Remember all the good times that the crypto market has had since December. Amazing bull runs for BTC, ETH and even crappy coins like DOGE. Remember also that in the good times, it is easy to say that I will HODL and not sell when there is a correction or a bear market. Easy to say, hard to do.
How many people clearly sold into the dip yesterday. For the markets to fall 20% or more, it is not only Whales selling. A lot of small and retail investors must be getting scared and selling too. But all you may well be doing, is turning losses into reality.
If you can, sell when everyone else is buying, and buying now when everyone else is selling and panicking... As always, imagine who is on the other side of the computer screen. Who are you buying from? Who are you selling to? What are their reasons for doing the opposite of you?
Remember the long term position. In 2 years, five years or more, what will you think when you look back now? Would you have sold your coins back in December because it fell a little bit? Would you have sold in January before the huge bull run?
Think long term. Be strong!! HODL, HODL and HODL!!!