You bought ETH for $3,000, and then the price rose to $3,500, putting you in a great mood. Next, ETH continued to soar to $4,000, and your excitement reached its peak.
However, the good times didn't last long; ETH quickly fell from $4,000 back to $3,500, and at that moment, you began to feel disappointment and regret, thinking that if you had sold at $4,000, you could have made an extra $500. The sentiment at $3,500 is completely different.
ETH still has the potential to rise to $5,000, which has never changed; the only thing that has changed is your mindset.
If you do not adjust your mindset, you might face one of the following two outcomes:
1. Missed profits: If the upward trend is not over, you may fear a pullback and prematurely take profits at the wrong time, missing out on further gains.
2. Loss of profits: If the upward trend has ended, you may stubbornly wait for the price to return to previous highs before selling, resulting in continuous price drops and loss of all profits.
Neither of these scenarios is ideal. Therefore, it is necessary to adjust your mindset and not chase selling at the highest point. We should make decisions based on our expectations of the market. If we believe the market will continue to rise, we should hold on and not worry about short-term pullbacks; if we believe the market has ended, we should sell promptly and not hope to return to the highest point.
Recently, I have been paying attention to a potential coin on the Ethereum chain ρꪊρρⅈꫀડ. Interested friends can keep an eye on it, as it could see a 5-10x increase in the short term.
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