🔍 Consider this scenario: You've got insider info that hints something could shoot up to $100,000 soon. But here’s the thing—it’s priced at $71,000 now. If you had the chance to buy it for $60,000, would you hold out hoping it drops to $45,000? Many people would be thrilled to grab it at $55,000, thinking it’s a steal.
🔄 Here's the twist: Buyers who got in at $55,000 to $65,000 probably won't be willing to let go at $45,000. But, if you’re trading on borrowed money, tread carefully. Concerned about the potential for loss? It might be smarter to cut your losses and back out now. Taking a hit today might open up bigger wins down the line.
💡 Reality check: The saying “You don’t lose until you sell” isn’t quite right for leveraged trades. It fits better for those holding long-term or trading short-term without borrowing. Short-term traders hope the price jumps back to $70,000, soon or eventually.
Long-term believers are convinced Bitcoin will rise as the next global standard, especially as the US dollar faces challenges.
No matter if you’re trading short-term, holding long-term, or somewhere in between, remember: in the unpredictable world of cryptocurrency, being knowledgeable and making timely decisions are crucial. They can lead to soaring successes or steep losses
