ever since we saw that figure the whole market movement started falling and we still have those who are still holding till date, that alone made me to wonder, for how long are we still going to hold even when the market is dropping off more than we expected?
They understand what they are holding, and the drop in the price of Bitcoin is not a reason for them to sell. Holding Bitcoin is a mindset, and you can develop a better mindset based on the understanding you have. If you don't understand the volatility of Bitcoin, holding may seem boring to you. Holding is all about having patience and understanding of the market, knowing that even if the price of Bitcoin drops, it is just for the moment, and a time will come when the price of Bitcoin will also increase.
If you don't understand Bitcoin, you won't be able to hold it for the long term by ignoring volatility. You definitely need to understand what you are investing in based on the possibilities, what its risks are, and how you will manage the investment properly in the long term by ignoring volatility. All these things cannot be ignored, if you don't know about them, the easier it is to hold the investment, the more difficult it will be for you. Seeing the price volatility will create panic in you, and because of that panic, you may have a wrong mindset, that you will think that Bitcoin may decrease even more, due to this kind of wrong mindset, there is a possibility of selling the investment even at a loss, and this will definitely cause loss for you and the failure of the investment.
So, not in a ignorant way, you definitely need to know what Bitcoin is, have an idea about Bitcoin, and knowing everything, you need to have a stable plan. If you invest in Bitcoin out of greed or emotion, you will never be able to sustain it, and you will only suffer big losses from it.
