You don't lose until you sell

Here's a little story for those worrying about the possibility of an upcoming bear market.

In around 2014 I decided to buy a couple of crappy new altcoins that were launching. Just for the fun and for tipping on Reddit. One was Pandacoin. The other was Dogecoin. I spent about £20 on each. I had to buy them directly from a guy through email. Weird times.

Anyway, neither of these coins ever really went anywhere. Pandacoin had some real trouble, and eventually became more or less worthless. Dogecoin sort of drifted around the same value for years.

Eventually I forgot about them and moved on. Later when the Dogecoin spike happened I tried to recover my coins but unfortunately they were lost. Easy come easy go. I managed to get my Pandacoin back. Of course that was the one I could recover. Great luck.

Anyway those Pandacoin are still sitting there in my wallet. They're worth nothing now, but also they're not gone. PND actually has a decent team starting to work on it again, so who knows I might get something out of it eventually.

The point is that I'll never make that mistake again. I'll never think just because a coin has been doing nothing for 5 years that it's worthless.

When the bear market comes, many of the projects you think have potential now will fade into obscurity. The dev teams will stop working on them as the incentive diminishes. But the coins won't disappear, and the bull market will come again.

Some coins, like Dogecoin, will eventually get their moment in the sun, and make you unexpectedly wealthy. Others, like Pandacoin, may never go anywhere, but one day they could. You don't know until you wait and see. You don't lose until you sell.