Build with CoinStats’ all-in-one API. Learn more

Deutsch한국어日本語中文EspañolFrançaisՀայերենNederlandsРусскийItalianoPortuguêsTürkçePortfolio TrackerSwapCryptocurrenciesPricingCrypto APIIntegrationsNewsEarnBlogNFTWidgetsDeFi Portfolio TrackerCrypto Gaming24h ReportPress KitAPI Docs
CoinStats

How do you stop yourself from selling during drawdowns?

bullish:

0

bearish:

0

I’ve been in Bitcoin since the 2017 run (GBTC). Turned a decent profit relatively quickly, then sold on family advice and watched it keep running. That regret still sits with me.
More recently I had a position in IBIT and sold a meaningful chunk when it dipped under $64k after hearing someone on YouTube say it was going lower. I know the long-term thesis, yet I still keep making the same short-term emotional decisions.
I’m seriously considering taking a chunk of money out of my Roth IRA, buying actual Bitcoin, and putting it on a hardware wallet (or even a paper wallet) that I can just put away and not look at. The goal is simply to own a full coin and remove the easy sell button.
Two questions for people who’ve been through this:
1. Has anyone successfully used the friction of self-custody (hardware wallet, offline storage, etc.) to finally stop selling during drawdowns?
2. I once had coins stolen from a software wallet on my computer. How paranoid should I be about the security of holding a larger amount of Bitcoin in self-custody? What are the real failure modes people have actually experienced?
Not looking for price predictions or “just HODL” one-liners — genuinely curious how others have handled the psychological side and the practical security side once the coins are offline.

submitted by /u/BuyIndependent2319
[link] [comments]
bullish:

0

bearish:

0

Manage all your crypto, NFT and DeFi from one place

Securely connect the portfolio you’re using to start.