A year ago, not the same date but about this time, I started trading cryptos...or at least I thought I was doing that. It was that time of the year when Bitcoin was hyped by the media as hell and shit coins were popping almost every day. I remember looking like IOTA for example which increased in price in one year at that time by 400x and I was wondering how it would be for me to score such a coin so I put some money on several cryptos and waited. At first I followed the pros and diversified my portfolio because I thought this was the right way to do but then the gambler mentality sucked me in and went all in on different coins.
I was only a click away from multiplying my money with at least 10x in December 2017 and that click didn't had to be a clever one, it rather had to be a patient one. Looking back on how the market evolved and how it behaved in December last year there were tons of opportunities to make a lot of money from crypto but you would only need a very important ingredient that I lacked at that time and it is patience what I am talking about. Yes, my lack of patience screwed my gains. I didn't had patience to hold Litecoin after I bought it at 50 dollars so I sold it at 55, I didn't had patience to hold XRP to at least $3 after I bought it at 23 cents and I did had the patience to hold Stellar Lumens either till it hit $1 after I bought it at 10 cents.
And I wasn't the only one doing that. A close friend of mine who introduced me to cryptos had the same strategy. Jumped from one crypto to another through the whole bull run and not making too much profit out of it. Simply because we didn't had patience to wait. Yes, all we had to to was to put our money on a cheap coin wait for it to pop at least 10x and sell it. Something like what the smart money did... but we weren't smart at all. We always looked at other cryptos and always believed that this other one is going to pop next and not the one we would hold thus we left some pretty good money pass through our fingers and we also burned ourselves with the NXT hard fork which I will never ever forget loosing more than we earned.
Now getting to the fun part I also remember the clowns from the crypto space. The ones that were pretty much doing the same thing but called themselves "entrepreneurs" and "financially independently" clowns. They were pretty much doing the same thing but they also went public clowning about it. Where they might be now I asked myself recently? Some of them had the entrepreneur badge even on Steemit when I discovered the platform at the beginning of 2018. Now some went form entrepreneurs to "blockchain enthusiasts" and "believers" in the technology after letting a strong bull run get by and dreaming of mooning. What can I say, perspectives and entitlements fade when prices are on a continuous down fall like they pretty much have done this year.
It's not bad that it happened this way because for me it was the most expensive and painful lesson I have ever had and what better way one has to learn something other than the painful one. Pain creates a mark in ones memory of not to do that again and what to avoid in the future. I don't know now about what the others who skipped massive gains like myself learned this year and what are they going to do this December or when the next bull run will come, but I am definitely not going to be lead by the same strategy. Jumping from one coin to another and loosing money is not an option anymore. I haven't become a stubborn HODLer either that dreams of Lambos and holds cryptos to the moon but I am going to hold some of the cryptos that I have until their turn comes for popping and not get lured again by other "potential ones" and sell them too soon. Got myself burned once, not doing it again. I have a bag full of regrets, time to trade them for gains.
Thanks for your attention and have a great day!