A bullrun isn’t something that happens overnight, and IS NOT something you’ll miss if you’re not paying attention… Here’s how the market increases over time…
TL:DR – Price action is the short term has little to no effect on a projects overall value, and the best way to make money in this game is to HODL your coins and let the market increase naturally over time. Most big investors didn't get rich by gambling and coming up big, they were patient
The reason everyone tells you to stop checking your portfolio every two minutes is because natural price action is almost completely negligible in a short time-frame.
The only people who need to check the markets frequently are those who actually day-trade, and make money in the short term.
Any big jumps in price, especially those within a few days are destined for a harsh correction, though they usually find a higher bottom resistance and progressively increases as time goes on…
Think of it this way;
Buy = price goes up Sell = price goes down Buy & HODL = price goes up, but finds a higher bottom each price jump so long as people continually HODL (This is also assuming that the supply of the project in question is limited)
BTC starts at $2 and starts to increase to $3.
People frenzy and buy which in turn pushes the price to $5. (Green candles)
People who bought early sell at $5 thinking it's the top (red candles), meanwhile people who bought at $5 have to protect their investment, and HODL hoping that people will buy again in the future.
These HODLERS limit the purchasable supply, which makes the price settle at $4 instead of $2 where we started.
This process repeats itself indefinitely for years, which is why BTC is now hanging around the $50,000 range
If you realistically expect your project's price to increase and never drop, you'd basically have to convince the person who bought BTC at $2, that he's just as safe if he bought at $50,000, $100,000, etc, etc….
When you see a project increase by 50% or more within a day or two, that's a sure sign of FOMO at work (project reaches a new milestone, X company adopts this project, or a P&D) – though the latter is really only when you're talking about shitcoins.
Everyone and their dog wants a piece of the action, and this buy frenzy creates green candles until people aren't willing to buy at such a high price any longer. When this happens, the price will retrace, and this cycle continues until the "buy power" isn't as strong and continuous as it was when the frenzy started…
IF THE MAJORITY OF BUY ORDERS STAYS CONSISTENT, AND PEOPLE KEEP THEIR FUNDS HELD, THE PRICE OF THE UNDERLYING ASSET/CRYPTO WILL INCREASE
Why does all this matter?
Because any natural growth of a crypto cannot increase indefinitely if people are not willing to consistently buy at higher prices and refuse to sell.
When people on /r/CC are telling you to stop checking your portfolio, it's because natural growth isn't something that happens in a short time-frame and in most cases is not sustainable
Checking your portfolio in the short term is a VERY good way to make bad decisions when you could ultimately be setting yourself up for success in the future….
If you believe in the projects you invested in, HOLD your goddamn coins, and the rest will take care of itself….
submitted by /u/clodhopper88