Over the past few years, I have earned more than $ 12 million in investments in cryptocurrency. I did not receive a single profit until they reached the limit of one hundred times the market peak in December 2017. The time was perfect, I set it. However, I took only a small percentage of this profit, and then invested again in the launch of the blockchain.
Then Ali market crashed. I did not sell or risk my positions. In any case, I participated in the operations before the IPO, adding more risks – and losses – to the schedule. Here's what I learned from a trip to the crypto market up and down:
Acquisition is a simple strategy, but it is not the most profitable. If all you do in the most unstable markets that have ever existed is to play a “passionate optimist in the long run,” then you are missing out on this opportunity. Long-term trust is a strong start, but it is much better to define cycles and patterns in order to minimize losses in long-term falling markets.
In difficult times, large coins or stable coins, in soft times, small coins.
Check your altc coins at least once every three months, otherwise you may lose them. Coins are removed from exchanges, exchanges and symbol update protocols are closed. Make sure you can control the number of different alternative currencies that you own. Until the market is mature and can tell apples more accurately than avocados, alternative currencies will continue their high price correlation. You may not need to own everyone you want.
Create a written retirement plan. At the very least, a link to implement against it. You will not know your exit strategy in the middle of a roller coaster. I did not have one of three years, but now I have. This includes diversification into other industries.
It is impossible to sell from above and buy from below. To think that the market will unfold after several months of decline and simply begin to grow at the moment you buy is not very realistic. Several times, she lost 70% of the investment in the months after buying a coin and increasing the target forty times. But…
Remember the current phase of the project in which you plan to invest. There are networks like Polymath that can be very successful and very profitable in the long run. However, for the sake of liberation, they collected and used funds to develop products, market research, overcome critical regulatory barriers, testing, etc. All this takes years. During this time, the presentation of these tokens enters the market through the distribution of investors / consultants, while demand and use are small, so the focus is on other projects, and prices are significantly reduced. We all love the hype about participating in an IPO, but it is possible that purchases can be made at lower prices and significantly reduce the risk over a two-year period on platforms that have a proven product, a regulatory action plan that is approved and ready for marketing.
The cryptography market is not for everyone. My mother told me: “If it’s so easy to make a lot of money, everyone will do it.” For me, this is the same as saying to Rafael Nadal: “If it were too easy to earn a lot of money by hitting the ball with a racket, everyone would do it.” Yes, in encryption you can make a lot of money very quickly, but you can also lose a lot of money very quickly. To be “competitive” in the market, you need smart, strong equipment and accurate information. Good luck, a good time and knowledge of what to do is also recommended. Playing tennis is not as easy as Rafael Nadal.
Do not pay the mortgage until you are sure that you do not need to borrow money in the foreseeable future, if encryption – whatever it is – is all that you have. When you leave work in the company and you do not have a fixed salary, you are lonely and risky. There is nothing worse in America when it comes to getting good health insurance or refinancing at home.
Do not be like most people and do not be touched by fear. At least pay attention to the narrator's voice in your head. For most people, this is never the right time to enter the market. When the market falls, “it's over,” and when it heats up, “it's too late.” There is always an excuse based on fear that you are not trying to do something fun, risky, or entrepreneurial. I have a cousin who researched and explored the market until his eggs turned blue. I felt that he received a doctorate. He did not end up investing. This has nothing to do with the market. Not funny.
We have no strange ideas about what “too high” or “too low” means. Encryption is a new kind of animal, so extreme that usually there is a higher turn and a lower minimum. Volatility in this market requires a broader perspective that goes beyond our