The Sunk Cost Fallacy: Why sometimes you should sell it even if you lose money.

Greetings from Portugal.

The sunk cost fallacy is the human tendency to continue with a strategy, course, or method even tho 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 sh*tcoin 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.

In fact if you look at 'maxi' communities, 90% of them are just bagholders from the last bull runs who got married to their bags and didn't know how to take profits.

Please don't take this to mean that you shouldn't hold onto your cryptocurrency if you DYOR and you're sure about the long term value; 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.

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