Oddbean new post about login | logout I told her she is going to feel worse within the year. She wants to wait to rebuy when it dips back into the 20s where she bought. 🤦♀️
Imho this isn’t even a Bitcoin problem so much as just a general financial fallacy, and is the main reason why people usually do better just buying index funds than individual stocks. I have some luck trying to explain this isn’t a Bitcoin thing, it’s a timeless financial principle. There’s a famous investing saying, Water your flowers and pull your weeds. If you sell winners to buy losers you’ll always have shit results in any asset class. What they’re doing is like selling Costco to buy Kmart.
I’m sorry for her loss. That shit will never see 20k again, and even if it did, she’d be scared to death and certain it was dead and never coming back. The ONLY reason she thinks it’s a “buy” at 20k is literally because it’s worth 3 times that right now. She will literally never buy bitcoin at 20k, whether it ever sees that price or not. If she would actually buy it at 20k after half a year of a complete price dump, she’d never have sold it now.
Some people just don’t get it
This is typical Orange Piller behavior that @rand0mguest2 warns everyone about. She’s never ever going to have the same size stack unless she buys it back and then stacks as hard as possible for that extra 8%.
Lollll back into the 20s . Keep dreaming
If she bought in the 20s she at least doubled her fiat amount. Perhaps another approach is to suggest she keep that profit but buy back the original amount. So if she invested $10k and sold all for a total of $25k (for example), suggest she buy back $10k worth of Bitcoin. In 1-2 years she will be happy she did.