I lost 70% of my portfolio's value attempting to predict a further dip and then a rebound. I still have 3x to 4x my initial investment that I made in December, however that's still small. DON'T trade with leverage, no matter how sure you are or how sure everyone appears.
Totally gutted, never going to trade with leverage again... It truly is Danger multiplied by Danger.
Greed got the best of me. I intend to cut back the next couple of months to put some back into my portfolio, however as you say... its the matter of making a lunch instead of spending £5 a day.... or not buying shit i don't need on amazon.
My goals ain't Lambos or 7 figure bank accounts. Its being able to move in with my friend of 15 years and girlfriend of a year who lives across the country. Yes i can save £2000 in 6 months but if i cut back further and putting £1000 extra into crypto COULD give me the safety net I would need to make such a jump more comfortably .
Yes its in a bubble, Yes it will pop, Can i catch a break? Maybe. Is it a pipe dream? almost certainly.
Before you say about leverage I'm completely aware that I'm an idiot.
Leverage does seem handy if you are extreme low on liquidity, but have a high networth. Its just the risk you take that matters.
It happens to all of us, but yes do stay away from that for the future. The complete opposite could have happened where you would have set yourself back from your goal to move in with her. Being up 3x for 4x is still killing every other asset class, so you're doing well still.
If it did work out i would already be there....
But yes it is killing other asset classes and that is whats driving people to Crypto in droves. £50 a month on lotto vs £50 in a Medium-Small cap coin that's getting a lot of attention....and has some yet maybe small potential of going 2x-10x in a week.
I know where i'd prefer my money.