Lately I've been riding the emotional currents caused by the crypto bull winding up for its run. I'm glad to see that I'm less affected than in the past. I've clearly become more accustomed to market volatility.
But there are still those familiar feelings of grasping at gains, regretting profits taken too soon, and feeling a little of missing out on coins I just can't be bothered to research adequately to want to invest in them that, nonetheless, show sick gains for those who did invest.
If I Had It To Do Over
I'm still committed to remaining focused on just the dozen coins I currently own, despite many new contenders for my attention. If I was entering the crypto market for the first time right now, I would own only 3 coins, BTC, ETH and HIVE.
I would do BTC because that's the boss, and you definitely invest in that.
ETH because it's got soooo many dapps being built on it.
HIVE because it is uniquely in active use yet fairly undiscovered. Plus I actually use it myself, and it's good to have some crypto that is more than just an investment.
Looking at profits in my current portfolio, I can't be mad about buying so much LINK at <$2. I can only be slightly annoyed with cashing out my entire initial investment between $10-15, seeing it now at $20. It's just greed that gives me any dissatisfaction there.
But again, if I was entering the market as a newbie now, I wouldn't buy any LINK at all. That's because it's just pretending that I would buy only that one winner. Really I would buy LINK because I'm buying altcoins in general, and would be bound to buy more losers than winners. I'd also have to keep track of the news and developments on all those coins to know when I need to take action with my investment.
I've discovered that after a couple years, the fascination with keeping track of all that subsides, and I wish to simply know a few coins very deeply.
What Would You Do?
If you were entering the crypto markets for the first time right now, what would you buy and why would you buy it?
This isn't about shilling what you currently have. I'm asking what you would do differently now, knowing what you've learned to date and trying to cast yourself in the role of a new crypto investor who had someone teach them all that.
Would you forgo some gains to simplify things, and also possibly avoid some losses as well?
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I think I'm the same, although I hold LTC, it's just more convenient than either BTC or ETH.
I wouldn't beat yourself up about that kind of profit!
Although I would always keep back 10% or so personally, you never know!
Yeah, I'm thinking that next year when the bull is really raging I still will hold back at least some of all the coins I have now. I believe in everything I have.
Hello, it's been a while, how have you been? I'm sorry I haven't really dropped by a lot but then it was my auto vote that reminded me of your post.
Actually if I was entering the crypto market it'll be hive because it ushered me into the world of crypto and basically my first allegiance would be to it.
Second would be BTC because obviously it's the oldest and the grand daddy of crypto and Eth as well simply because it's promising and well I can't neglect the gain too.
Good to see you drop by, friend. How funny that we wind up at the same 3 coins, but by slightly different reasoning 😃
Yeah well maybe it's because I don't really know about the potential of other coins but then these are the certain ones for me.
Cheers it's great to drop by. How are you doing?
I'm well. Taught a workshop yesterday that was wonderful. Now planning a trip to Jamaica. We are having a terrible time here in the US, so need to get away for a bit.
Sincerely, the feeling of regret and early cash-in of profits can be so devastating but if one must be emotionally unattached to investment. One needs to understand when to buy, sell and re-buy. Those three factors are really important.
Thank you for sharing!
Yeah, I swing trade BTC and at first I had a block to rebuying at a higher price than I last sold at. Finally I reconciled myself to the need if I was going to keep profiting on future swings. It's a very different way of thinking than with my longterm HODL stack. I may wind up buying back in with some LINK also if it ever dips again, but it's harder to rationalize buying that one at a higher price than I last sold at, given how much I still hold. We shall see.
Everything is just between playing smart and understanding when to take profits. I would have jumped in on the $LINK signals but just skeptical about the unforeseen circumstances with projects and its effect on prices. But in your words, we shall see!
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