logic is not the answer for crypto investments
I’ll start with the honest truth, I jumped on the band wagon in January following the hype and a couple of my more entrepreneurial friends had started investing and were claiming to have made thousands of pounds.
I was out with one friend in early January and he was checking his phone constantly, I joked if he was having an affair, but it turns out it was so much more exciting. TRON was pumping! My friend had put a couple of grand in at $0.03 that evening my friend made the best part of $20,000! From that moment I was going to join the party.
I started with a £100 investment of eth at £653 and then 2 hours later thought fuck it I’ll put another £50 (last of the big investors I know) it was going so well every time I check my coinbase balance it was going up, I thought I was Gordon Gecho. I thought I need to get on the alt coin action I’ll be driving a Lambo before Easter. I set up a kucoin and eventually Binance accounts. Everything was rosey until I what happened next, the crypto correction or crash! I didn’t panic i hodled but I literally watch my investment half in a matter of days, it was a blood bath. Lucky my partner doesn’t know how much money I’ve put in.
From January to date I have now invest the best part of £1000 with my portfolio still a good 30% down at least. I’ve spent every spare minute looking at white papers reading reedit and following proclaimed crypto gurus on twitter and youtube.
I have no issue with with my investment going down at present that’s the risk I’ve decided to make however what does baffle me is there seems to be no logic to the alt market. One of my main stakes is Vechain I really believe this is a great project. What I don’t understand is why after the announcements of Thor and a partnership with BMW is why is the price of ven now in free fall? I really don’t get the notion but the rumour sell the news.
I see this as a short term dip and I have no inclination to sell in fact I’ll be buying more once I know what spare cash I’ve got to put in but my real question is this. Why are people so focused on short term gains? When the big picture we’ve all seen and want a piece of is, that the crypto market can make long term “hodling” so much more prosperous.
Computta
https://computta.com/?ref=268161
These guys have really figured this out. You can make money while you sleep, Just signup Download the free miner. There is never a fee. (not to sound like a shill) This is like a money drop! I will post again with details of my profits.
Great post.
I'm in a similar situation to you. Though, I may not be quite as down. As for VeChain, it was a bit over extended and there was a little bit of FUD after the event.
As for long vs short, yeah, not many of the new millionaires got there in short term...they got there after holding for months....if not a year or more.
My timing into crypto was impeccable 😂 but I do see a long term future and huge potential to improve my families faniances. Ven is definitely a long term hold as are the majority of my others coins. Hope yours work out for you.
Thanks! I hope all works out well for you as well! I'll recommend checking out NAV if you are looking for some lower (outside top 100) Market Cap coins on Binance.