If you could go back in time, what would you do differently in CRYPTO?
There is one thing that we all have in common. No matter how rich or poor you are. The decisions that you have made in the past have decided and put you in your current situation. We have all thought at least one point in our life, âIf only I could go back in time and do things differently.â In the cryptocurrency market that is something we think about daily. If only I had gotten into Bitcoin or Ethereum earlier. If only I had maintained my conviction and didnât sell out of my position. I could have been rich.
But what if we could go back in time and do things differently? Changing our past decisions and mistakes to change our lives forever. What would you do differently?
First, we will eliminate the most obvious idea of going back in time to be one of the first investors in Bitcoin or Ethereum. Instead, we will be focusing on what we did personally, and what we would change.
Indecisiveness
If I were going back in time with my crypto journey, the first thing I would change is my indecisiveness. When I was new to the market and hadnât done my research, I was very impressionable. It makes me embarrassed how naive I was back then.
Back then, instead of holding onto my positions and allowing them time to mature, I'd hastily swap them for other assets once I gained more insight. This cycle of impulsive trading persisted, resulting in missed profits and regrettable losses. Looking back, I recognize that many of the tokens I hastily sold off eventually surged in value. Had I maintained my positions and exercised patience, I could have capitalized on these gains and minimized my losses significantly. In hindsight, holding onto established cryptocurrencies like BTC and ETH would have been a more prudent strategy, yielding better returns over time.
Following every Trend- Staying True to Strategy
Throughout my crypto journey, I've remained steadfast in my commitment to a disciplined trading strategy centered around trading to generate both short-term gains and long-term profits. While the allure of chasing every trend in the market can be enticing, I've focused on identifying well-researched narratives within the crypto space that align with my trading goals and leveraging them to my advantage.
By focusing on fundamental analysis and market trends, I've been able to identify lucrative opportunities that offer both immediate returns and sustainable growth potential.
For example, despite widespread recommendations to invest in the 2022 UST trend, I trusted my analysis and refrained. This decision spared me from losses when UST/Luna depegged shortly after. Independent thinking saved the day. Instead of chasing quick profits without fully assessing the risks involved, I've maintained a cautious approach, prioritizing the preservation of capital and the pursuit of consistent gains.
By staying true to my strategy and resisting the urge to follow every trend, I've been able to navigate the volatile crypto landscape with confidence and resilience. While there may be moments of temptation and doubt, I remain steadfast in my conviction that disciplined trading and prudent risk management are the keys to long-term success in the crypto market.
Going All-In
As crazy as it might sound, I regret being so conservative during my first few years investing in the crypto market. At the time I hadnât done the research that I have now and didnât have the conviction in the market that I currently do. I was very concerned about the risk of possibly seeing my investments go to zero and therefore invested small amounts in the beginning.
While I was still able to accumulate great positions due to being early in the market. It still pains me how much more I could have accumulated if only I had been willing to take on a little more risk. But it is important to remember that during those days the future of Bitcoin and the crypto market, in general, were much less certain than it is today. There was real doubt if this market was real if it would go to zero, or if it would be a criminal offense to even own it. Today we have much more confidence that this market will still be around ten years from now.
Cultivating Resilience and Optimism
Perhaps the most valuable lesson I've learned from my crypto journey is the importance of resilience and optimism in the face of adversity. While setbacks and failures are inevitable in any investment endeavor, it's our response to these challenges that ultimately shapes our success. Rather than dwelling on past mistakes, I choose to view them as valuable learning experiences that have equipped me with the knowledge and fortitude to navigate future obstacles. If given the chance to rewrite history, I would approach each setback with a sense of resilience and optimism, knowing that every challenge is an opportunity for growth and improvement.
While there are many things I would change if I could go back in time. Iâm still very satisfied with how things turned out. The crypto market has truly changed my life and Iâm very excited about the future. If you made mistakes in the past, it is never too late to learn from them. The crypto market is full of opportunities, and you just need to keep your eyes open so that you can spot the next one.
How about you? If you could go back in time, what would you do differently in crypto?
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