Anyone HODLing from the most probably is just like their investment is equally like dead. But, crypto isn’t a penny asset, even cryptos beaten down hard can rally back in theory.
I’ll explain what I mean like this, back in 2015 I thought coins like LTC could never obtain back to where they were. LTC goes from $40 to $1.50. I was worried about it going lower honestly. No way its going back to $40 I thought… but fast forward to 2017 and it goes to $400.
Back in late 2017 I thought, “no method alts goto the BTC costs they watched at summer time ” (they had been beaten down very hard in BTC costs at that point).
Well, many didn’t, however some did, a few longer got close, and a couple others missed the BTC target but surpassed all of time highs at USD… and also this happened quite quick (just like with two months they’d got there and began to escape!)
This is the reason why the HODL me-me became popular at a feeling, the remarkable skill of cryptos to muster like mad.
Say you experienced a coin which has been $2 now could be currently at $0.04 bucks. Maybe this occurs:
- It functions to 0.08.
- Months after in a thrive that it erupts to $0.20.
- A year after it can 5x and extends to $1.
- Then there’s this significant alt flourish along with its own rear up to $ two.
It didn’t just go from $0.04 to $2 in a straight shot, it ramped up to that over time in jumps that were understandable.
Look, the reality is this is the sort of cost action that got alts to where they were at the peak in 2017 — 2018. It might be years away, and it might never happen again, but historically it has happened to many coins… and that is why when you are already down 99% (or whatever) in crypto there are reasons to not give up and take a loss and instead to just stick your coins in a wallet at wait it out.
TIP: If you have guts and a high risk tolerance you can average down in a coin that is down hard. This means in our example maybe you only have to obtain back to $0.50 cents and not $2 to break even. Maybe at that point you take half out and then let the other half ride. Something like that. You have options, one option is HODL, the other is dust yourself off, level up your knowledge, and try again. Remember though, some coins are never coming back, there is a graveyard. So HODLing and averaging aren’t magical pills.
Bottomline: Your coin isn’t dead until it goes to the graveyard. I’ve seen a coin go from a penny to $20k, it was Bitcoin. Most coins don’t pre-form that but enjoy, you don’t need that size develop to obtain back to breaking even even if you bought at the top with 99.9% of coins. So in that sense, you still techincally have hope.