Ninety-nine percent of people enter the Bitcoin market for the same reason. With the hopes and dreams of hopefully being able to change their lives financially forever, and maybe even become rich.
But something strange happens the longer that you are in the market. You fall down the rabbit hole of Bitcoin, begin to believe that Bitcoin has the power to change the world, and you want to be a part of that change. There is a saying that once you start to understand Bitcoin, there is no going back to how you looked at the world before. You now see the world for what it actually is, and your naive blinders have been taken off.
After spending enough time as a Bitcoiner, you begin to become a part of the community. A place where HODLing your Bitcoin for the long-term, or possibly forever is respected. Selling out of your position, taking profits, or even having conviction that sometimes wavers is seen as being weak or having paper hands. People may say that you were mentally weak, or weren’t worthy enough to reap the rewards that Bitcoiners will be able to obtain later on.
The hard truth is that sometimes the Bitcoin market can be a difficult place. There is peer pressure that makes you feel like you are in middle school again. HODLers or Bitcoin maxis are part of the popular group, and anyone else is shunned. Being declared that they aren’t true Bitcoiners.
With that said you need to always remember why you are in this market. While it’s true that we would love to change the world to make it a much better place. But, we must first concentrate on our own survival. The world out there currently is difficult to just make ends meet. If you have a chance to change your life financially you should take it.
Nothing in life or Bitcoin is guaranteed. Having the ability to pay off your student loans, credit cards, and escape from the heavy burden of debt can be life-changing. Being able to finally have a financial cushion, and no longer be living paycheck to paycheck. Or finally having a nest egg saved, and having hope to be able to retire. These are all incredible things to sell your Bitcoin for, and you should never be ashamed or embarrassed to do so.
But there is the never-ending dilemma of if you should sell your Bitcoin for short-term gains, or take the risk and HODL for the chance to become rich. I’ll be honest with you, this is the situation that I struggle with the most at times. Before entering the Bitcoin and cryptocurrency market, I was deeply in debt and had a grim financial future. Being able to retire was something I had already decided would be impossible for me.
Thankfully investing in Bitcoin has taught me the skills to be able to turn my life around, but I still remember how difficult life was. This makes me sympathize with anyone who was to sell quickly to improve their lives. There is no shame in doing so, and I would actually recommend it in many cases. After all, nothing is guaranteed in Bitcoin, and it could go to zero someday.
However, if there is any way that you are able to hold on, protect your Bitcoin, and keep it for several years. I truly believe that not only could it change your life forever, but could make you rich. All of those predictions about Bitcoin eventually causing the largest transfer of wealth the world has ever seen could be more likely than you know.
At the end of the day, you need to do what is best for you. Everyone is in a different financial situation and has several different factors. Your debt, age, goals, marital status, having children, and even your health.
How about you? Are you planning to sell for quick profits, or hold on and try to become rich?
Read Exclusive Articles 1st on
Substack
As always, thank you for reading!
