If you wish to be an intelligent investor in the cryptocurrency markets, you are about to get your chance. The speculators have gone home, the optimists have packed their bags and the pessimists are running the show.
The Psychology Of An Intelligent Investor
Back in the spring of 1720, Sir Isaac Newton owned shares in the South Sea Company, the hottest stock in England. Sensing that the market was getting out of hand, the great physicist muttered that he could calculate the motions of the heavenly bodies, but not the madness of the people. Newton dumped his South Sea shares, pocketing a 100% profit totaling £7,000. But just months later, swept up in the wild enthusiasm of the market, Newton jumped back in at a much higher price and lost £20,000 (or more than $3 million in todays money). For the rest of his life, he forbade anyone to speak the words South Sea in his presence.
Why is this relevant?
Great post and this part of your long post, shows that even really smart people who can understand the market and should have known not to do a re-entry can fail and then have to learn to live with those consequences.
Knowing when to take profit or cut losses are extremely important when you trade crypto, most altcoins even those in top100 have no real value or purpose, but people still trade them as they have.