Delayed Gratification
One year in crypto feels like a decade in real life, that's one of the quotes I like the most and find myself resonating with the most from all the famous ones around here. The speed at which everything, especially prices, are changing in crypto is amazing.
You need patience, a bit of education and you need vision to make the most out of your crypto investments in my opinion. Otherwise you're a simply participant to this game having high chances of getting out frustrated out of this, rather than fulfilled and excited about what's next.
Throughout my whole experience in crypto I've only managed to convince one person to invest in such assets so far, a friend of mine who actually bought 10 ETH at the beginning of 2019, played a bit with trading and ended up with 9.25 ETH to hodl for a year or so.
In October 2020 he sold it all at $400 each. He bought the 10 coins at $150 per coin and sold at $400. He made some profit, no doubt about that, but he missed a lot of what's to be made in this bull market. Had he sold a few days ago for example and he would have cashed out around $10,000 instead of the $3,700 he actually got.
He had a plan though, to buy himself a piece of land near our home town in order to build himself a guest house and that piece of land costs around $23,000, hence he sold some stuff he really didn't need anymore, including the ETH he owned, to get the money for the land. That piece of land might hold its price for long time and even appreciate a bit over time...
But so does ETH... I don't know if he had checked the crypto prices recently, but he'd probably be amazed to see how valuable his ETH has become. If he'd had a bit more patience he could have bought almost half the land with only ETH money and if he'd wait for one more year I guess his crypto assets would probably be worth more than the whole parcel of land he bought.
It's late for regrets now, but such situations underline how much, the vision, patience and education weighs in crypto. For someone who is aware of the four year halving cycles, who knows about the boom and bust perpetual cycles and has a strong hand during good and bad times, making money out of crypto is really a child's play.
Two months make a huge difference in crypto... What do I say here, even one day can make a huge difference and DOGE is a great recent example of that. I know the market looks a bit bubbled right now and it's probably on the edge of a correction, but the really fun times are still ahead of us. My gut feeling tells me that the summer-winter time frame will make us the most money in crypto.
I mean, that's when I plan dollar cost averaging and gradually tethering my investment. There's rumors of a longer and more tamed bull market, but nobody knows that for sure. I'm cautious and consider that taking profits off the table gradually seems the best strategy. It so frustrating selling too soon, right before the champagne glasses are handed, but hey... it's an adults play in here.
I feel sorry for my friend's poor investing strategy, but at least he got out on a profit. He could have made even more, but the voice of the land screamed stronger than the one of crypto. I'm a crypto fanatic, I admit that, and whenever we talk investments in real life, the best investments that I am talking about are crypto related.
Having a digital era that's ready to soak us up and seeing the direction the world's heading towards, I find it quite hard to find a more rewarding assets class than crypto. Based on my limited knowledge of course. The tale of the 10 ETH that I mentioned about in this post is one lesson learned that is actually someone else's experience.
Not sitting on a gold mine in here and perfectly aware of a potential correction short term, but my confidence in exponential gains for this bull market is unshakable. Learning on your own is the most valuable lesson, but sometimes borrowing wisdom doesn't seem to hurt either.
Thanks for attention, Adrian
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