You Don’t Lose Till You Sell: Every Crypto Investor Dilemma

Was scrolling through twitter feed today, well, before I start, let me start by celebrating twitter tweet view limit being removed, now I can see unlimited tweets. As I was saying, I was scrolling through twitter and I came across a tweet showing a bored ape NFT Justin Bieber bought for $1.31 Million in 2021 Now worth $59k. The NFT asset community have been experiencing massive loss lately, I guess we can say that the NFT trend is at the bottom level as not a lot of people are feeling the hype anymore, there is nothing special about NFTs anymore, almost everyone has it. The top NFTs are in huge loss, the floor price is way lower than it used to be.

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Back to Justin Biber’s NFT, I remember when Justin Bieber bought this NFT, we had a lot of people who jubilated because it was a big deal that a pop start, a well known celebrity was getting involved in NFTs, and buying it at that price, seemed like the crypto NFT revolution we needed. Then rumours flew around that just may be, the transaction must have been a stunt by the bored ape team to make bored ape NFTs trend. I don’t know how true that is, but looking at a point of view where Justin Bieber truly bought the NFT for that price, because a lot of people had spent outrageous amount of money getting NFTs, but are in dip losses right now like Justin Bieber’s NFT. This is the reason I didn’t venture into the NFT investment, because I felt it was over priced and I might just get in at the top when the hype had reached its climax.

Right now, if Justin Bieber keeps holding, he is gambling the chance of making his money back when the floor price increases and the value skyrockets or it keeps dipping and the value goes really low. Imagine a situation where he sells it and the value skyrockets, that means he has lost a lot of money, but then imagine if the value never comes back up. This is the huge dilemma most of us crypto investors face. They have been good occasions where holding favoured us and bad occasions where holding ruined us. For instance, I got an AIDoge airdrop worth $5 which skyrocketed to be worth $800 later after I sold too quickly when it got to $80, I felt so bad for selling too soon, so the next airdrop I decided not to sell. I got the airdrop and it was worth $24, I held thinking it would be another AIDoge, unfortunately the token dumped to $0.8.

Posted Using LeoFinance Alpha