Why is nobody talking about how “buy and hold to $10,$20” calls often come right after traders get wrecked?
A lot of crypto traders learn this the hard way. You see bold targets, you FOMO in, and suddenly you’re holding a bag while someone else just closed a position with a -6,642.69 USDT PnL. The market moves fast, and hype moves even faster.
Take the recent chatter around $MAGMA. Price pops about +16.13%, people start throwing out targets like $5, $10, even $20, and the narrative becomes “just hold.” But price targets without a plan are how traders get trapped. In volatile markets, even strong assets move in brutal cycles, whether it's $MAGMA or majors like $BTC and $ETH.
A more practical approach is simple. Wait for confirmation after the initial pump, scale in instead of aping one entry, and define your exit before the trade even starts. If a trade is good enough to hold for 10x, it should still respect risk management on the way there.
Are traders actually investing, or just reacting to the latest price spike?