I bought solana casually and I did earn some money before but now im at a 45% loss. Should I hold or sell it now to prevent further loss. It was just 10% loss back then and I thought ill hold but it just kept decreasing. Your thoughts?
Should I hold or sell my solana
byu/FirmAssociation367 inCryptoMarkets
Posted by FirmAssociation367
14 Comments
You’d be trying to catch a falling knife.
If you missed selling a top, stake it till your price returns and just forget about it. Solana has $1000 written all over it within 4 years
As i notice , you don’t have any strategy, so let me ask you : Why did you buy Solana ? Because you saw someone shilling it ? because you have conviction ? anything else ?
Lack of strategy is common mistake which explains why people panic sell and accumulate loss.
Create a plan, an entry price, an exit price (or a percentage profit), and stick to your plan, no matter what happens.
Watching SOL slip that far is rough. What I usually do is ask: “If I didn’t already own this, would I buy it today?” If the answer’s no, selling at least part of it can reduce the stress. If you still believe in it long term, holding isn’t crazy either.
Some people just scale out slowly so it’s not an all-or-nothing move. And if you do swap into something else, Rubic makes cross-chain moves pretty simple since it aggregates a ton of routes.
Happy to look at your time horizon if you want.
hold it until your back above water. markets do this but you only lock in your losses when you sell. Try listening to some Charles Munger. He gives good advice on long term holds.
No plan no strategy nothing ? I mean if you sell now you’d be fucked if you hold for short you’d also be fucked so look at which one of the fucked situations you’d rather be in
You should hold it, it will go up soon.
If you sold it now then you shouldn’t invest in crypto in the future. You should **ALWAYS** expect the price to go down -90% anytime.
You’re investing in this market without a plan, without risk management. You buy high then sell low. You probably invest more than you can afford to lose.
You wouldn’t be asking on reddit if you plan everything ahead.
Just keep and forget about it until it comes back.
3 things I don’t sell: BTC, Eth and SOL. I buy weekly regardless of price.
Honest question: If you had that cash in your hand right now, would you buy SOL with it? If the answer is no, just sell and move on. Don’t fall for the sunk cost fallacy.
I don’t sell at a loss.
Sell and run away
Hoold
You never know. It’s like super market check out. You might be waiting at the slow one.
Definitely some chains will be consolidating. I have basically already left some chains.