The original post: /r/cryptocurrency by /u/Frizzik on 2024-11-25 12:39:58.

I’ve started to see a lot of posts now that Bitcoin is on the verge of $100,000. It’s obvious many of these posts are from the people new to this market who are not prepared with a plan and asking things like if they should sell now because their investment went down over the weekend…

In all due respect, if you are asking these questions you shouldn’t be in crypto. You are too emotional with your investment. The crypto market is the most volitile market you’ll ever invest in. If you let your feelings take over you will likely end up chasing pumps and paying unnecessary fees.

If you do want to stay in this market I suggest you choose your coins now and DCA (Dollar-Cost Average) into those specific coins even if you see others outpace them. You will never choose the winning horse in a race of 10,000+.

Also, I would pick a realistic % in profit target for which you would be comfortable selling at and stick with that plan. This is what will really test you because it will go against everything you are feeling in that moment. You’ll be telling yourself “It will go up even more and I’d be an idiot to sell now”. And you might be right, it might go up more. However, the market can crash just as quickly as it pumps if not more. At the end of the day the reason we invest is to make money.

Don’t be emotional. Have a plan, stick to it.

Good luck!