Something I read frequently around here, usually from newbies, is the phrase:

-I lost "X" in a certain cryptocurrency.

Let's understand something basic! If you bought an amount "X" of a certain cryptocurrency, you only lose money if you sell that amount of cryptocurrency below the value you paid for it, for example:

You bought 100 tokens $ADA each for $1.00, so at the moment they are worth $100.00.

If the value of each Token drops to $0.50, you still have the same 100 tokens, they are just worth less at that moment, but they are still exactly 100 tokens and you will only have a loss if you sell them.

The same applies when the market goes up. If you have the same 100 tokens and paid $1.00 for each, you have $100.00. If the market goes up and they are worth $2.00 each, you have $200.00, but you haven't earned anything! Because you haven't sold them yet!

Profit or loss only occurs after the sale action. Before that, the money belongs to the market and the only thing you have, and it is immutable, is your initial amount of tokens.

So stop looking at your tokens as if they were casino chips and the market as a big roulette wheel where you bet and lose or win your chips. That's NOT how it works!

The market can go up 1000x or fall 1000x, your purchased "chips" will always have the same amount, and you only win or lose when you make a sale.

Rule number 1 - NEVER sell for less than you paid.

Rule#2- NEVER break rule #1.

I would be honored if you would follow me.😉👍

May the wealth be with you 💰