The Sunk Cost Fallacy: Sometimes you slhoud sell it even if you lose money.

The sunk cost fallacy is the human tendency to continue with a strategy, course, or method even though it isn’t working because of the amount of time and money they have already spent in it.

Sometimes you know you invested in a shitcoin that’s not going to recover. But often people put more money into a deadcoin trying to recover, instead of selling at a loss.

We all saw this recently with Luna, for example.

Please don’t take this to mean that you shouldn’t hold onto your cryptocurrency; rather, it means that if you find a better chance elsewhere, you should seize it rather than holding onto one that you no longer trust.

I don’t think this applies to any currencies that have good fundamentals. For example, I personally bought DOT nearly at ATH and I’m still holding.

So be careful not to become overly attached to a project.