Below are some typical examples of many people who held cryptocurrencies in the early stages but sold early or did not hold long-term, leading to regret as their values skyrocketed:
1. Bitcoin (BTC)
• Situation:
Bitcoin was launched in 2009 at almost zero price. By 2010, the price of one Bitcoin was only about $0.003. One person bought 10,000 BTC in exchange for 2 pizzas (the famous transaction on Bitcoin Pizza Day). However, today, 10,000 BTC is worth hundreds of millions of USD.
• Lesson:
Many people who held BTC at extremely low prices sold for a few dollars, missing the chance to become millionaires as BTC soared to tens of thousands of USD.
2. Ethereum (ETH)
• Situation:
was sold in the ICO in 2015 for about $0.30 per token. Early participants often sold ETH when the price reached $1 or $10. However, ETH peaked at over $4,800 in 2021.
• Lesson:
Selling too early can cause you to miss the long-term potential of major tech projects.
3. Dogecoin (DOGE)
• Situation:
Dogecoin was created as a joke in 2013. Many people had bought or received DOGE for free from giveaways. However, when Elon Musk and the community pushed the price of DOGE above $0.70 in 2021, those who had owned millions of DOGE regretted selling when the price was only a few cents.
• Lesson:
Sometimes, even seemingly meaningless projects can explode if they have community support.
4. Ripple (XRP)
• Situation:
XRP was once sold for under $0.01 in the early stages (2013). Many people sold XRP when it rose to a few cents, not expecting it to reach over $3 in 2018.
• Lesson:
It is important to understand the value and long-term vision of the project before deciding to sell.
5. Binance Coin (BNB)
• Situation:
When Binance launched in 2017, BNB was sold for $0.10 in the ICO. Early participants often sold when the price reached $10, but BNB surged above $600 during the price boom in 2021.
• Lesson:
A strong foundation and practical application are key factors for a coin to break through.
Conclusion and Analysis:
The examples above show that not holding coins for a long time or lacking faith in the project can lead to regret. However, it is also important to note that:
1. Not every coin has long-term development potential.
2. Risk management and thorough project evaluation before investing are crucial.
3. Long-term holding (HODL) is only effective when the coin has real value and sustainable potential.