Just curious if your crypto dives in value 80%, how will you feel? And for those of you who have significant holdings ($20k+) what would be the catalyst for you closing your position?

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If bitcoin dropped 80% without groundbreaking news (ie congress passing a law making it nearly impossible to use money in us banks to fund crypto) I’d go HAM buying up bitcoin and ethereum from people handing out free money. I’d call my dad and my friends so they can do the same.

Smart contracts are going to change the way people transact. Knowing this makes it easy to brush off temporary losses. It doesn’t hurt that I started with 10k, cashed out 25k and have 75k invested

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So is there anything that would compel you to close your position? i.e, what if you are right but the rate of adoption is too slow? At what point would you cut your losses?

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Appreciate the answers, thank you. Lastly, what is your price target? Is there a point at which you say “Okay, I think the market cap of $X Bn/Tn for BTC is reasonable/overpriced, I’m going to take gains now and pare back” ?

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I’m utterly insensitive to significant downturns, so there isn’t a % threshold I could give you. I came into this expecting extreme volatility, which I see as a feature rather than a bug. But qualitative factors could do it for me. Significant governmental action, security risks, or a serious obstacle to broader adoption could get me to ditch cryptocurrencies

Already up significantly, 80% downturn I’d still be up

I think the people on here might be more willing to tolerate price declines than a lot of BTC owners. If it drops by even 20%, that’d likely be enough to spook the dumb money that’s driving this

No plans to exit. I was throwing yolo money at it and will ride it until I want to liquidate for something else.

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