You still hold it because of what you paid

Anchoring is letting the price you originally paid decide what you do now, even though the investment has no idea what you paid for it.

Holding on "until it gets back to what I paid" ties a decision to an irrelevant number, instead of to whether the investment is still a good one today.

Bought at €100, now at €60. The honest question is not "will it get back to €100" but "would I buy this today, at €60, knowing what I know now?"

Selling only once a loss turns into a gain feels satisfying, but the market does not know or care what you paid. The price you paid is history, not a target.

Before holding on, ask plainly: would I buy this today at this price? If the honest answer is no, the original price is the only thing keeping it.

The price you paid is history. The only question that matters today is whether you'd buy it now.