All coins are down from December. The prices kept going up and up, how could we have thought it would keep going to the moon?
I did.
I didn't sell my crypto, in fact I kept buying even when it was 17,000 dollars.
So why isn't my portfolio in the red right now?
There were various reasons but the main one was dollar cost average.
It is so important to not put a large amount of money all at once in any of these cryptocurrencies.
I make small goals like, I want to invest $2000 in the next 4 months. That is $500 a month, which some people might think is very aggresive and others that is nothing if you want to get rich.
Whatever your flavor, it is what I considered within my means, goals and risk factors. But in any case, what I did was invest an average of $200 per week. This gave me time to research the best practices to avoid fees and make mistakes, also, the larger amount of smaller transactions allowed me to test the technology (wallets, keys, etc). This is why my portfolio is not down at the moment. Because I bought little by little and it gave me the time to research the coins and most importantly I stayed away from scams and ponzi schemes. Believe me guys, I was very close to investing in Bitconnect, but a certain youtube dude with the name of David Hay showed me the light.
Dollar cost average and never buy at all time highs and do your research. These 2 things will make you a wise investor. You will not become rich in a few months or even years. But you will always invest and always do it smart. When a good opportunity does arise you will be able to recognize it and capitalize.
Cheers Hodlers!
Gueco