The pain of selling your assets too early: My LEOM Case

in LeoFinancelast month

It's true that no one can tell the exact bottom and/or top of the market but it's painful when you have to sell off cheap because of some unforeseen circumstances and occurrences you have to deal with. This is a case I found myself in and I'm pretty sad that I sold off my LEOM too early but I'm glad I had something that saved me when I was in need. Overall, I never saw myself selling off my LEO Miners at that early stage because I knew cocksure that it was yet to be fully ripe for taking profit but such is life after all.


Screenshot_20210116200756~2.png


I sold off my LEOM just around 6 HIVE/1 just to see it reaching 18 HIVE/1 in a few days later. However, at the point when I sold off, I had no other option so, there was nothing I could do. I hope I don't have to sell any of my assets too early.

Selling off cryptocurrency assets too early because of fear and panic is usually regrettable in the long run. Hence, it is very important to allow one's assets grow in value to a meaningful level before you consider selling off. Another thing is to know the project you are investing in. When you fully understand a particular project and you carefully study it, you would see the potentials it has to grow in value in the near future and you would not want to sell off cheap.

On the other hand, everything boils down to patience. One should learn to be patient with a project till it is fully grown and development. I have seen many persons sell off too early because of impatience just to come back regretting. Learn patience and be patient. Projects need time to grow and develop; growth and increase in value is usually not spontaneous rather gradual. Understanding this would save some persons losses and/or little gains.

Looking at BTC today, it's trading at $40k dollars but years back it wasn't so. We saw how many sold off out of impatience at cheap rates and one lavished 10,000 for pizza. These were cases of having no in-depth knowledge about a project. Patience and HODLING is a great way to profiting largely from cryptocurrency investments.

Posted Using LeoFinance Beta

Sort:  

Sorry to hear this. This happened to me as well many many times..

It's in the past now.

Posted Using LeoFinance Beta