I think it is understandable that people hold crypto if they see a promising future for whatever individual projects they are invested in.
I too have been surprised at how much some crypto projects have dropped. One example that comes to mind is ADA being over 90% down.
From what I can tell there are a number of differences between share speculation and crypto speculation.
I use the term speculation because the intrinsic value of crypto is debatable for many of the thousands of coins/tokens etc that have emerged over the last 24 months.
Due to these markets being unregulated, there is no real limit to how far prices can rise or fall, and in the case of falling markets, the capitulation seems magnified many times.
When the stock market crashes, they actually halt trade so that prices and participants can get a handle on things.
With crypto, the price of freedom from many things (including regulation), is that manipulation runs rampant. Of course manipulation occurs in all markets, it is just that in regulated markets they have to pretend that there is a fair markets process.
What I am getting at is that I can't see any reason to HODL unless someone bought BTC or ETC and other coins at very early stages, and are still 25x or more up while taking a hit to the rest of the portfolio.
Of course, to sell out now if you are not in the above category may not make much sense if the original plan for any bear market was to DCA.
I have been a crypto market spectator, so I am able in some ways to be less emotional that holders from the recent highs. I have been down 90% on speculative share purchases before, and it was a real drain on me psychologically.
I see incredible opportunity, even though when I start a google search for crypto, the second or third most commonly searched phrase is "is crypto dead"?
My plan is to DCA over the next 2 years or so, and once momentum picks up, actively manage my position and exit before the next downturn using TA. Sounds good in theory, but its a new market, and we can only go off the past few bull markets performance to see what has been possible. I was shocked when BTC almost had a trillion dollar market cap.
