I was so lucky that I started putting money in crypto in December. When I started, I did not know what a blockchain was. All I knew was that people were making a ton of money. My first investment in crypto was XRP at 0.65$ and I later sold that holding for 2.5$. I started taking investment advice on YouTube, I bought ReddCoin (RDD), Litecoin and Cardano. I was thinking of what a great summer I was going to have with 40x-50x gains. I kept cheering for dips, I think I have bought the dip about 10x.
In May I was totally slaughtered and did not know what to do. I was starting to think that I have two choices.
- Sell all my holdings and get my head into something else
- Read all I can and take rational actions according to my knowledge
I choose to stick by my investment and read good quality content. The more I read about blockchain, the stronger belief I got in the technology. The stronger belief I got, the less I cared about prices. I did a lot of changes to my portfolio and made a plan on what I want to accumulate based on what I think the future of blockchain is.
In addition, I have started to educate myself even further. I want to get a job or make my own job in the blockchain space. I feel that the upside is even greater by accumulating knowledge then coins. There is a BIG demand for knowledge for understanding the blockchain and what the technology can do for a business or how it can impact a business.
So instead of wishing for new ATH so you can sell your crypto and buy a lambo. Try to contribute to the crypto world in what ever way you can. Explain to your friends in simple words what it is, how it works and try to get them educated. Read and learn - you will be rewarded sooner or later!