greetings #bitcoin
Imagine this scenario: You've received inside information that suggests something will rise to $100,000 in a few months. Here's the kicker, though: It's currently priced modestly at $71,000. Now, if you had the opportunity to purchase it for $60,000, you wouldn't hesitate to wait for it to drop to $45,000, correct? People would eagerly jump at the chance to buy $55,000 because it's a fantastic deal!
The twist is this: those who bought between $55,000 and $65,000 probably won't bail out with $45,000. However, if you are trading with borrowed capital, proceed with caution. If you are concerned about the possibility of financial loss, it may be prudent to accept your losses and exit the trade. After all, sometimes enduring a setback now can lead to future gains.
Here's the reality: "You don't lose until you sell" is not entirely applicable in leveraged trading. It is best suited for those who hold stocks for the long term or do short-term trading without leverage. Short-term traders are banking on the price rallying to $70,000, either quickly or over time. Meanwhile, long-term holders are committed for the long term, believing that Bitcoin will emerge as the next global currency as the US dollar weakens.
Whether you're a short-term trader, a long-term holder, or something in between, always remember: in the volatile cryptocurrency space, knowledge is crucial, and making the right move at the right time can determine whether you rise to New heights or you will crash to Earth!
