Holding Through the Storm

Cryptocurrency is not for the faint-hearted. It is a world of constant motion where prices rise and fall like ocean waves. In one second, a coin’s value can shoot up and fill your heart with joy, and in the next, it can crash down and make you question why you even entered the market. The unpredictable nature of cryptocurrency makes it a game only for those who have the courage to face both gain and loss without losing their minds.

What makes the market even more interesting is how everything seems to revolve around Bitcoin (BTC). Once BTC sneezes, every other coin catches a cold. The moment Bitcoin dips, most altcoins follow in the same direction as if they were tied to its fate. It’s not surprising, though, since most of these coins are built on the same blockchain foundation and depend on the overall movement of BTC. That is why people often call Bitcoin the “father” of all cryptocurrencies.

Just yesterday, I was watching the market closely, hoping to make a smart investment. I had my eyes on some promising altcoins like BOME and WIF. After checking the charts and studying the patterns, I decided to go in. But before I could even settle down, BTC started moving downward, and everything else followed. The market became dizzy and unpredictable again. I held on to some Hive tokens I had: about 4,000 of them. At a time, I made a few dollars when BTC crossed its previous all-time high, but I didn’t take profit early enough. Eventually, I saw my portfolio drop by hundreds of dollars right before my eyes.

That’s the harsh reality of cryptocurrency, it gives and takes without warning. Some people see a dip as a blessing, a chance to buy more, and hold until prices bounce back. But what if the market keeps going down? Should you hold your position, buy more, or panic sell? The truth is, there’s no perfect answer. In futures trading, for instance, holding a losing position can be dangerous, especially when using high leverage. If your leverage is more than 10%, a single market dip can wipe out your entire account. It’s only when your leverage is below 5% that you might have a chance to recover. Otherwise, it’s best to exit before you lose everything.

Trading crypto is all about calculated risks, but even that doesn’t always work. The market can flip in the blink of an eye, and what seemed like a smart move can suddenly turn into a painful mistake. I still remember the massive crash in 2020. I was on a bike that day, and when BTC fell, my altcoins went down like dominoes. I tried to sell, but the market was too volatile. I could only watch as my portfolio crashed right before my eyes. It wasn’t funny at all. That experience taught me a hard lesson, to only invest what I can afford to lose.

Yesterday felt just like 2020 again. Altcoins dipped to levels I had never seen before. Hive even dropped to around $0.06. It was heartbreaking. Many traders lost millions in just seconds, especially those who went long on futures. Some were left in tears, others in deep regret.

My honest advice to anyone trading crypto is this: only invest what you can let go of without losing sleep. The market is unpredictable, and no one can truly control it. Cryptocurrency is a deadly game for those without strong minds. It can make you rich or leave you with nothing in seconds.