We've all heard the term "bagholder," referring to those left "holding the bags" after the price of a stock (or crypto token) drops dramatically after meteoric rise. Sometimes, people refer to themselves as "bagholders" minutes after buying something, and the price slightly declines. It can be a bit ridiculous. Let's take a look at Bitcoin, for example:
Sorry, I actually misspelled "baghodler" on the chart there. It's important to consider the following when investing: What's your time horizon? If you want to trade something to make a quick buck, and the price falls, you are a bagholder. You did not succeed in your goal of making a profitable trade in a short time period. If you are indeed investing and have a long time horizon, then you perhaps can call yourself an investor instead of a bagholder, although some may mock you for being down on your investment and call you a bagholder. Either way, you're gonna carry that weight.
At this point, let me take a cue from Mr. Dave Sawyer and add an appropriate soundtrack to this post:
Going back to the example of Bitcoin, if you bought at 19k in 2017, you were underwater for years. You could have been labelled a bagholder. But if you were indeed a hodler and you sold when BTC hit all-time highs over 60k, you were a hell of an investor!
The point of my post here is that time plays a critical role, which is why it's important to always consider that when decided where to put your money. Along with having patience, it's important to pay attention to whatever you've invested in: are the reasons you initially invested still valid? Has anything changed along the way that would change the long-term value? The thesis that Bitcoin hodlers postulate is that the value of the token will gradually go up over time, due to increased adoption around the world and utility combined with a limited supply.
So, is it worth "carrying the weight" in order to potentially get a big payoff? That is the challenge of investing and is up for each individual to decide. How much risk are you willing to take on?
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