Do you stare at charts all day and end up FOMO buying in to some alt coins only to sell at a loss?
I think that has happened to everyone at some point. Let’s take a step back and try to separate what you know you should do, versus what you emotionally want to do.
Some questions to ask yourself in this climate are:
- Do you think BTC is going to drop to $8K and under?
- If so, are your USD holdings to crypto holdings proportional to that?
- Remember that humans have a bad sense of time passing. If you think BTC is going to drop (which can take days or weeks), does it make sense to look at hourly/daily gains of alt coins that are immune to BTC prices?
- Yes I said immune, not resistant. The question isn’t how resistant a specific coin is, but whether if you think all the holders of that coin will sell off at certain BTC price movement.