Post
Topic
Board Beginners & Help
Merits 4 from 1 user
Re: Bitcoin: Understand how to use your coins
by
NeuroticFish
on 03/11/2021, 16:37:21 UTC
⭐ Merited by DdmrDdmr (4)
And my main intention in this post is: Don't do shit!

Believe in time and think if your actions are not self-sabotaging you. Everyone deserves to be happy and achieve financial independence.

Trading is difficult. Crypto trading is already something not for everybody, because of the chances for big sudden movements.
Leveraged trading is even worse.

Unfortunately far too many treat trading close to gambling (and there's a good chance you've done the same) and the wake up call is usually harsh.


On the other hand, holding is not that safe either, I have crypto I've bought some time ago and now they're completely worthless.

What I want to tell is:
1. In both trading and investing/holding caution is needed, more cold calculation (and study) and less feeling. And both can go wrong.
2. Looking back is not always useful. In your case 2020 was a good year to enter the market, but keep in mind that there are people who bought bitcoin at the end of 2018 and maybe sold, disappointed, in 2019, 6 times cheaper than they've bought.

Also comparing 2020 buying prices with 2021 ATH, when you've lost money at various, much lower selling prices, makes your 150k number inflated (i.e. incorrect).


However, your story has the potential to scare some newbies from going head first into trading, especially leveraged trading. Or at least I hope so.