Quote:
Originally Posted by DinoTriz2
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In all seriousness, my history is a textbook example of how not to invest.
I started in late November 2017, after a relative talked me into investing. He's also a diehard zealot when it comes to crypto.
To be fair, he was talking to me for years about getting in, and if I did sooner, I'd probably be a multimillionaire now. (seriously)
He also didn't hold my hand, so I made MANY costly mistakes.
My investment blew up like 3 days after I bought in. Made about $7,000 in a few days. I was excited. I didn't know that you're not supposed to buy when it goes parabolic, at least not when it has been up for awhile.
I bought a lot of stuff at ATH prices.
I think I have a Litecoin that I bought for $375.
I also bought a bunch of alt coins. Big gamble.
I just found out one was a scam the other day. Exchanges pulled it off - can't liquidate them. That's about $1600 down the drain.
My portfolio stayed around -90% for the entirety of 2018.
Things started improving in the last few months and now my portfolio is around -60%.
I haven't panic sold. I'm just waiting it out. Hopefully I'll break even. My Litecoin might be my saving grace since the "Halvining" is taking place in less than 2 months.
I probably will cash out when and if I break even.
Then I'll either buy a house or invest in something other than Crypto. It's too volatile for me.
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You'll break even over next year or two. Like you said halvings are coming, easy price boost. The volatility can be rough no doubt, but aside from govt intervention/regulation somehow shattering the market, coins are easy money and will continue to be so for years. Maybe don't cash out 100%, leave a little bit of BTC if you wanna make money with zero effort over next few years.
Park a little in BTC it will pay off. Not 1million% anymore but you'll make easy money. Buy alt coins if you wanna gamble, but you seem to have figured out alt coins the hard way =(