LJ Articles| 14/09/2021 | #21
Tied To Prices
by Lorimer Jenkins, y.at/⌛🚀💎🙌
Like me, you probably can’t stop checking your phone to watch Bitcoins or your invested Crypto’s prices. I can’t stop you from doing that and I don’t think anyone can. But I can tell you some experiences I’ve had when doing it too much.
First of all let me tell you this, the people that have made the most money out of Crypto just didn’t sell their coins. It’s as simple as that, they picked some coins they liked and just never sold. They weren’t traders or speculators; they just bought a coin and held it.
Being emotional, constantly seeing your investment half and double has an extremely damaging impact on your health. It gives you all you wanted and then takes it away just as quick, this creates huge mood swings. I now only look at prices once a week, if I need to sell I just set an alert on my phone to do it.
Fomo, you log onto the exchange and go past the home page. There is going to be one point where you’re tired of logging on and see your coin is down but the whole market is up. This usually ends with you placing large bets on coins that are just about to crash. You then lose a lot of money and buy back into the coin you originally had.
3. Being rich on paper, if you double your portfolio the likelihood is that you feel great but this then causes you to spend money from your normal bank. Then when the coins go on a bit of a dip, you actually have just wasted money on silly things. It’s just because of that really happy state you have been in you make very weird decisions.
by Lorimer Jenkins
Disclaimer : I am not a financial advisor these articles for education purposes, new articles released by 12pm BST every day.