Investing in cryptocurrency can be a rollercoaster ride. When prices drop, panic sets in. When prices rise, panic still prevails. But the truth is, panic is a normal reaction when you have invested your hard-earned money. However, it is essential to change your mindset and focus on long-term goals rather than short-term gains.
Over the years, I have come across numerous individuals who have made a fortune through real estate investments. However, those who have earned substantial profits through stocks and Bitcoin are few and far between. Interestingly, many of them have invested in companies like Tesla and Apple.
Why are there more people making money through real estate? It's not because they are smarter than others in the market. The main reason is their confidence in tangible assets. Real estate offers the advantage of being physically present and can be rented out for additional income. Moreover, the process of buying and selling properties is more complex and time-consuming compared to high-frequency trading in other markets.
So why haven't those who invested in stocks or Bitcoin early on made significant profits? The answer lies in their lack of confidence and the negative news that constantly bombards the market. Tesla catches fire, Tesla's autopilot causes accidents, Tesla faces production issues. Apple products have signal problems, paint issues, and fragile screens. As for Bitcoin, there are countless negative news stories, forks, network congestion, influential figures expressing bearish sentiments, and even the rise of "shitcoins." All these factors contribute to market volatility and pessimistic sentiments. While these concerns may be valid, they are often the most compelling evidence for a bearish market. These opinions constantly influence your thoughts and, if you're not careful, can lead you to make impulsive decisions.
Bill Gates once said, "People always overestimate what can be achieved in the short term and underestimate what can be achieved in the long term."
Therefore, instead of chasing short-term gains, it is crucial to focus on the long-term potential of investments. We need to go against our natural instincts and aim for long-term profits.
Investing should be counterintuitive. Instead of seeking short-term gains, we should strive for long-term dividends. So, let's think about what Bitcoin will look like in the next five years and hold onto it.
Remember, investing in cryptocurrency requires a long-term perspective. While it may be tempting to chase small waves of profit or bet on market corrections, our ultimate goal should be to reap the rewards of long-term trends.
