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DON'T INVEST YOUR INCOME
Recently, a follower told me, "I'm planning to invest all my earnings from my job into crypto!" This is a critical mistake that can lead to losing all your hard-earned money and ending up with no savings.
Investing a portion of your income in crypto and stocks is a smart move. However, avoid investing your entire income, or even the majority of it, in cryptocurrency. Remember, the crypto market is extremely volatile. While it can offer substantial gains, it can also result in significant losses. Investing most of your earnings means risking a large amount of capital, for which you might not be psychologically prepared, often leading to costly emotional decisions.
During the last bull market, I witnessed many individuals make this mistake, losing three to twelve months' worth of salary. They typically sold at the worst times and bought at the best, driven by emotions. Avoid making the same mistake by managing your investments wisely.
Many crypto enthusiasts might criticize this viewpoint, believing that cryptocurrencies are infallible and risk-free in the long run. This is simply not true. Invest wisely, take profits by selling your cryptos, and exit the market. You can re-enter during the next cycle, and you'll be glad you did.
This post reflects my personal opinion.
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