When the stimulus cheques were coming out in 2021 I remember reading about a guy who found out about his young hairdresser retiring because Solana had absolutely rocketed. SOL wasn't on my radar at all so I was surprised that some young dude had enough value to never need earn new money again...
Of course, crypto is full of those stories, but SOL has is now $20 off its highs of $250. Did the hairdresser cash out at the top, which means it was only ever an investment vehicle and he didn't care about the tech at all... or did he keep his SOL expecting higher highs only to watch it drop... did he ask for his old job back?
If you had enough crypto to retire, and you're expecting fiat to collapse, how much do you diversify? I honestly think that unless we're willing to get back into fiat then you can only retire if you have enough crypto in the deepest, darkest bear market.
That period was filled with numerous stories of young people making mint with their crypto holdings and living the life. But like any investments whether it's crypto or shares, it's only when you cash it out do you realise the gains or losses.
Unless you have the discipline to sell at the high and not be greedy expecting for it to go higher, I won't be surprised 90% of this stories did not have a happy ending...
Exactly. Too many people go "full crypto" at the highs, as if it will never go lower again. It is silly and leads to a massive waste of potential, as they haven't the fiat coming in from a job to cover their lives, so keep bleeding token mass.
It is harder than people think to sell the top - most don't - I know I didn't.